Northern Gold Coast Resort - ID 8047

$1,640,000

Resort / Holiday management rights, Biggera Waters QLD

Mixed Letting Management Rights For Sale
Overlooking the Gold Coast Broadwater

- Mid rise complex located in Biggera Waters
- 40 unit complex with 18 in the letting pool
- Net profit over $230,000
- Body Corporate salary of $81,000 inclusive of GST
- Accommodation Module agreements with 21 years remaining
- Excellent Body Corporate and Committee
- Prime location overlooking the spectacular Gold Coast Broadwater
- All systems in place for easy handover to new manager
- Large back office and reception attached and on title
- Minimal gardening
- 2 bedroom, 2 bathroom manager's residence with 1 undercover car space

This complex is located in the northern Gold Coast suburb of Biggera Waters, close to the Broadwater and all of the water activities on offer along with bike/walking tracks, childrens park, public transport, Harbourtown shopping and dining precinct, Charis Seafood and Yacht Club.

Net Profit: $231,074
Asking Price: $1,640,000
(Inclusive of Manager's Real Estate)

More Information

Financial Overview

Total Purchase Price: $1,640,000
Net Income: $ 231,074 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 585,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 4.6
_{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: 18
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 20
_{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: 2
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 40
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 81,000
_{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: 21 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 29 years
_{How long has the management rights existed.}

Office Hours: As per agreements
_{Required Office Hours}

Complex Features: Heated pool, Spa, BBQ and entertaining area, Security parking, CCTV, Storage, Tour booking information services, Wi-Fi, Exclusive use of former games room which can be used for additional storage.

Real Estate Component

Manager's Unit: 0 0

Included Real Estate: $ 585,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 0

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: Two bedrooms, Two bathrooms, Single undercover car space, Air conditioning, Ceiling fans, Pet permitted with Body Corporate approval, Office and reception area attached and on title.