Modernised Accommodation offering short-term and permanent accommodation | Resort Brokers ID : MR008487

$1,695,635

Resort / Holiday Management Rights, Airlie Beach QLD

ResortBrokers presents the Airlie Summit Apartments, a prime management rights opportunity in Airlie Beach. Perched on a hill with stunning Coral Sea views, this property is nestled within a National Park.

With 23-year caretaking and letting agreements, recently refurbished units, and significant growth potential, this complex is a secure investment.

The manager's residence is a spacious top-floor corner apartment with a large balcony, offering stunning views and privacy. All buildings have been repaired and painted less than a year ago, making this a ready-to-go opportunity.

- Prime location on a hill in Airlie Beach, overlooking the Coral Sea and nestled within a National Park.
- Secure investment with 23-year caretaking and letting agreements in place.
- Recently refurbished and decorated units in the short-term pool, including popular extra-large one and two-bedroom apartments.
- Complex in excellent condition, with all buildings repaired and painted less than a year ago.
- Updated Form 6's that cater to both short and long-term letting.
- Significant growth potential in both holiday and long-term letting, with the latter consistently fully occupied.
- Manager's residence is a spacious top-floor corner apartment with a large balcony, offering stunning views and privacy.
- Benefit from an incredibly supportive Body Corporate.
- Inspections are by appointment only.
Date updated: 17 Nov 2024 22:00:04

More Information

Financial Overview

Total Purchase Price: $1,695,635
Net Income: $ 288,325 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 600,000
_{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: 22
_{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: 13
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 61
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 166,906
_{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: 23 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: swimming pool with views

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 600,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 2

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: Top floor, corner apartment with views of the Coral Sea and national park. Two bedroom, two bathroom with 2 car undercover, inline garage. Office is separate from unit but held on the same title.