Waterfront Lifestyle business that will impress - must see! | Resort Brokers ID : MR006568

$1,195,000

Permanent Management Rights, Varsity Lakes QLD

This perfectly located, central Gold Coast waterfront permanent complex is a little gem. No set office hours, wonderful facilities and water views from the impressive modern manager's 3 bed residence. It's the one you are looking for!

$112k net profit
25 year topped up agreements
No set office hours
Wonderful resort facilities that are easy to manage
Modern design and beautifully presented
Water views from the manager's 3 bed, 2.5 bath, 3 car residence + office
This is the ultimate lifestyle business ready for new managers to enjoy
Property inspections are by appointment only

Date updated: 01 Mar 2021 23:00:04

More Information

Financial Overview

Total Purchase Price: $1,195,000
Net Income: $ 112,279 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 690,000
_{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: 26
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 14
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 9
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 49
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 58,471
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 25 years
_{How long is the caretaking contract.}

Agreement Remaining: 25 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: No set office hours
_{Required Office Hours}

Complex Features: pool, 2 x bbq areas

Real Estate Component

Manager's Unit: 3 3

Included Real Estate: $ 690,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 3

Office On Title: 0
_{Is there a manager's office included on the title?}

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

Unit Features: 3 large bedrooms, main with ensuite, built-in wardrobes, ceiling fans and air-conditioning. Large modern kitchen with main bathroom and separate powder room.