Business For Sale - Fabulous Growth Opportunity - ID 7870 BL
- Permanent Management Rights For Sale
- Motivated Vendor
- Presently run by a single person
- Massive growth opportunity post Covid-19
- Holiday building but currently all permanent rentals
- Stable income during Covid-19
- Pet friendly
- Manager's residence is 3 bedroom plus office
- No requirement to live onsite
- No set office hours
- Would suit experienced operator
This is normally run as a holiday building, it has been converted to permanent letting during Covid-19. The income is now low but stable. Pre-Covid, the net profit to February 2020 was $190,327 (financials available). Now that all letting is permanent, vendor estimate of the current net profit is $140,000 which equates to a 4.35 multiple on the asking price. At $190,000 net, the multiple would only be 3.2! Lots of potential growth for an experienced operator.
Net Profit: $140,000 (vendor estimate)
Asking Price: $1,194,000
(Inclusive of manager's residence
For further information or to arrange an inspection of this Gold Coast management rights business for sale contact:
Management Rights Broker
Net Profit: $140,000 Remuneration / Body Corp Salary: $102,811Body corp salary review: CPI Annually
Managers UnitValue of Managers Apartment: $585,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Pets OK: Yes
The manager’s residence is a spacious 3 bedroom, 2 bathroom apartment with 2 car parks (one on title + one on exclusive use).
The residence is air conditioned and also has ceiling fans.
A pet is permitted with Body Corporate approval.
Complex InformationComplex Type: PermanentTotal Units in Complex: 53Total Units in Letting Pool: 19Permanent Units: 19Owner Occupy Units: 23Outside Agent Units: 10Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 15 yearsSpa: YesBBQ Area: YesPay TV: Yes