Management Rights on The Esplanade - 18.75% ROI - 1P2944MR
EXCLUSIVE TO CRE BROKERS. Hervey Bay opportunities like this are being noticed by investors. This is a well-established, high-netting Management Rights with long agreements in place. The current owner has been here for nearly 10 years and it is time for a break.
Hervey Bay has gone ahead in leaps and bounds in recent years. 2018 saw record breaking tourism numbers throughout the region, and accordingly profitability on investments like this is rising.
Hervey Bay is the gateway to Fraser Island and a very popular whale watching destination. But Hervey Bay is so much more than that: It plays host to numerous sporting, musical & motoring events and Hervey Bay is home to Queensland's most advanced regional hospital.
The Federal Government recently allocated $9M in funding for the upgrade of Fraser Coast Airport which offers daily direct flights to and from Sydney & Brisbane.
This business is in an enviable location, across the road from a child-friendly beach, surrounded by cafes and restaurants. The manager's unit has been upgraded with a stone-top kitchen with stainless steel appliances.
Business Price: $1,200,000
Unit Price: $400,000
Net profit: $300,000
TOTAL PRICE : $1,600,000
Price: Management Rights $1,600,000
Remuneration / Body Corp Salary: $50Body corp salary review: CPI Annually
Managers UnitValue of Managers Apartment: $400,000Bedrooms: 3Bathrooms: 2Pets OK: No
Well laid out residence with 2 bedrooms, main with ensuite and a 3rd bedroom or office. Fully renovated including wall removed giving an open plan living space, a new kitchen with stone benchtop, plus large balcony that wraps around the apartment. The residence backs onto the refurbished reception.
Complex InformationComplex Type: n/aTotal Units in Complex: 35Total Units in Letting Pool: 24Holiday Units: 24Owner Occupy Units: 6Outside Agent Units: 2Lockup Units: 2Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 yearsPool: YesSpa: YesTennis Court: YesGames Room: Yes
Other Features / Notes
A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS, C:QLD - Fraser Coast