Runaway Bay, Queensland

$1,194,000

Property Description

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
Gerard Dixon

Property Summary

Business Snapshot

Price: $1,194,000 Net Profit: $140,000 Remuneration / Body Corp Salary: $102,811Body corp salary review: CPI Annually

Managers Unit

Value 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 Information

Complex 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

Marketing Agent


Marketing Agency

MR Sales

Gerard Dixon
MR Sales

Phone

Listing Tools

Property Map

Map Location ( get directions )

Runaway Bay, Queensland 4216 Exact map location not provided

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