Rainbow Bay, Queensland

Management Rights $1,035,000

Property Description

UNDER CONTRACT. RAINBOW BAY MANAGEMENT RIGHTS - LONG-TERM MANAGERS HAVE OTHER PLANS - NET PROFIT OF $150,369 - 1P2783MR

This attractive complex is compact and very manageable, in a lovely sheltered location less than 5 mins stroll to beautiful Rainbow Bay, Coolangatta Beach, shops, restaurants and cafes.

After 11 years successfully running this business it is time for the current managers to move on.

* Very popular holiday destination with a total of 36 Apartments.
* Solid support from repeat guests.
* Long term agreements with 21 years to run. Supportive Body Corporate.
* No Set Office Hours in agreements.
* An attractive complex with a sunny central pool / entertainment area.
* Well presented 2 Bed / 2 Bath Manager's unit with spacious outdoor area.
* Secure tandem car park / storage. Adjoining Office on Title.
* After 11 years the managers are ready to move on and are motivated to sell, all reasonable offers will be considered.

* Net Profit - $150,369

Manager's Lot - $440,000
Business - $595,000
Total - $1,035,000

Property Summary

Business Snapshot

Price: Management Rights $1,035,000 Net Profit: $150,369 Remuneration / Body Corp Salary: $45,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $440,000Bedrooms: 2Bathrooms: 2Car Spaces: 2Office: On Title

Complex Information

Complex Type: n/aTotal Units in Complex: 36Total Units in Letting Pool: 19Holiday Units: 16Permanent Units: 3Owner Occupy Units: 10Outside Agent Units: 4Lockup Units: 3Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 yearsPool: YesSpa: YesBBQ Area: Yes

Other Features / Notes

A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS, C:QLD - Gold Coast/Brisbane

Marketing Agent


Marketing Agency

CRE Brokers

Jim Prentice
CRE Brokers

Phone

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Map Location ( get directions )

Rainbow Bay, Queensland 4225 Exact map location not provided

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