Set sail in Main Beach with this management rights property net 13% ROI | Resort Brokers ID : MR008161

$2,800,000

Permanent Management Rights, Main Beach QLD

ResortBrokers presents the Spinnaker Apartments in Main Beach, a prime beachside investment opportunity delivering a 13% ROI.

This management rights property offers a perfect blend of work and lifestyle with resort-style amenities and limited office hours.

Enjoy a generous body corporate salary and a luxurious three-bedroom manager's residence. A remarkable investment in a highly sought-after trendy beachside location of Main Beach.

- Prime beachside location in Main Beach
- Perfect blend of work and lifestyle
- Generous body corporate salary of $287,019 (ex gst)
- Luxurious three-bedroom, two-bathroom, one-carpark manager's residence
- Modern and efficient operating systems
- Additional storage facilities included
- Resort-style amenities - Pool, Spa, Sauna, Steamroom, Tennis Court and 2 x barbecue areas
- Peaceful, well-maintained permanent residential building
- Inspection by appointment only
Date updated: 01 Dec 2024 22:00:03

More Information

Financial Overview

Total Purchase Price: $2,800,000
Net Income: $ 367,000 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,280,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: undisclosed
_{Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.}

Letting Business

Letting Pool: 14
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 60
_{Number of units resided in by their owners.}

Lock Ups: 40
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 4
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 119
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 287,019
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 10 years
_{How long is the caretaking contract.}

Agreement Remaining: 10 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 0 years
_{How long has the management rights existed.}

Office Hours: 9-3 M-F (no wkd) - emergency
_{Required Office Hours}

Complex Features: 2 x Barbecue area, pool, spa, steam room, sauna, tennis court and gym

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 1,280,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 1

Office On Title: 1
_{Is there a manager's office included on the title?}

Pets: yes
_{Can the manager own a pet on site?}

Unit Features: Spacious, fully renovated managerâs residence