Large Management Rights Business in Southport, Gold Coast - 1p4131MR
MASSIVE $100,000 PRICE REDUCTION
** Seller Moving On With Other Commitments
** Now Offered Below Recent Valuation
** Definite Sale Required
** Present All Offers!
* Situated in the rapidly developing Southport precinct - Total 109 apartments.
* Both Holiday and Permanent letting in this Prominent Position close to Broadwater Parklands, Aquatic Centre, Shops and Restaurants.
* Accommodation Module Agreements (17 years to run) with solid caretaking Salary.
* 3 Bed, 2 Bath Manager's Apartment plus Office, and large Reception - all on Title.
* Resort facilities include Lagoon Swimming Pool, Tennis Court, Sauna, Spa, Fully Equipped Gymnasium.
* Accountants figures for Financial Year 17/18 – Net Profit $330,000.
* Opportunity for Experienced Managers.
* Motivated Seller.
Business $1,551,000 (4.7 x multiplier)
Manager's Lot $575,000 incl. Apartment, Office and large Reception - all on Title
Net Profit: $330,000 Remuneration / Body Corp Salary: $136,000Body corp salary review: CPI Annually
Managers UnitValue of Managers Apartment: $575,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On Title
Complex InformationComplex Type: n/aTotal Units in Complex: 109Total Units in Letting Pool: 67Holiday Units: 19Permanent Units: 48Owner Occupy Units: 32Outside Agent Units: 10Manager Units: 1Agreement Term Remaining: 17 yearsPool: YesSpa: YesSauna: YesGym: YesTennis Court: YesBBQ Area: Yes
Other Features / Notes
A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS, C:QLD - Gold Coast/Brisbane