Golden Beach on the Water
Established complex in Golden Beach overlooking the Pumicestone passage & offering a stand out managers apartment with views over the water with a business operation that is well run. With the income from a combination of units inside and external to the complex the opportunity exists to expand further.
The total net income is $141k with $123k generated from the resort and $17k from the 4 external units being a mix of short and long term letting. There is also additional income of approx $6k pa from grounds-keeping works at another complex within short walking distance which is not included in the P&L.
- 15 units in complex letting pool plus additional 4 external.
- Family sized water view 3 bed unit with detached office on title and a recent valuation competed at $625k
- Excellent BC salary of $48k with additional income of $6k pa available from outside works.
- Currently run by a single operator with some assistance for cleaning.
- Multiplier of 3.62 on internal income $123,732 and 1.5 on external $17,395
- Central location close to amenities, waterways and outside activities.
For further information on this listing please contact the exclusive agency, either Lindsay Petty or Barry Davies.
Net Profit: $141,127 Remuneration / Body Corp Salary: $49,770
Managers UnitValue of Managers Apartment: $625,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On Title
The managers residence is a spacious 3 bed master with ensuite offering views over recreational parkland and the Pumicestone passage waterway. Quality fittings and fixtures with a good size detached office on the managers title.
Complex InformationComplex Type: MixedTotal Units in Complex: 29Total Units in Letting Pool: 19Holiday Units: 12Permanent Units: 7Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 20 yearsPool: YesBBQ Area: YesPay TV: YesWIFI: Yes
Hotel InformationRestaurant Facilities: -Liquor Licence: -Restaurant: -Lease: -