OUTSTANDING HIGH NET PROFIT HOLIDAY COMPLEX - STUNNING RAINBOW BAY

$3,568,550

Resort / Holiday management rights, Coolangatta QLD

This prestigious holiday complex is located in arguably one of the best positions on the Southern Gold Coast. It features spacious, north facing, 2-bedroom ensuite fully self-contained apartments all with breath-taking ocean views and the world famous Snapper Rocks surf break right at the doorstep.

The building consists of a total of 32 apartments, 24 of which are in the letting pool. Over the past 7 years, the building has undergone a number of upgrading projects and the complex presents beautifully. The new managers will appreciate the benefits of the hard work already done.

Bayview represents the perfect business, with high net profit, excellent systems in place, no set office hours, long agreements and outstanding repeat business.
All this and a beautiful modern 2-bedroom managers apartment with an outstanding outdoor space for entertaining and beachfront living.

- Topped Up 25 years agreement
- No set office hours
- Amazing location
- Building presents beautifully with a pro-active Body Corp
- Modern 2 bedroom, 2 bathroom apartment with ocean views.
- Great repeat bookings
- Net profit $436,261
- Outstanding Buying

The complex is located in Rainbow Bay, Coolangatta on the southern tip of the beautiful Gold Coast.Directly across from one of the best surf beaches in the world Snapper Rocks,close to popular cafes and restaurants and only 10 minutes to Gold Coast Airport, these standout holiday apartments are in a perfect position to explore everything the pristine Southern Gold Coast has to offer.

Call now to book an inspection you will not be disappointed.

More Information

Financial Overview

Total Purchase Price: $3,568,550
Net Income: $ 436,261 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,300,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 5.2
_{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: 24
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 4
_{Number of units resided in by their owners.}

Lock Ups: 3
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 1
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 32
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 81,702
_{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: 40 years
_{How long has the management rights existed.}

Office Hours: No set office hours
_{Required Office Hours}

Complex Features: Saltwater pool, Outdoor heated spa, Sauna, Full size tennis court, Covered BBQ area, Games room, Secure undercover parking

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 1,300,000
_{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: A renovated, spacious, light and airy two-bedroom ensuite ground floor managerâs unit, beautiful outdoor entertaining area.