Acquire a Thriving Coastal Management Rights Business with Plenty of Upside | Resort Brokers ID : MR008490

$2,660,000

Resort / Holiday Management Rights, Elanora QLD

ResortBrokers presents a profitable Management Rights in Elanora with untapped income potential in a holiday resort setting,

There are 66 dual key apartments with 38 in the letting pool, providing exceptional rental flexibility. The supportive Body Corporate committee further enhances the attractiveness of this investment, with long-term 24-year agreements in place.

There is significant upside to increase the already significant high Net Profit circa $375k with scope to bring in repair and maintenance income, convert onsite rentals in the outside rental pool, further, the manager's dual one-bedroom apartment generates an extra $22,000pa.

No requirement to live onsite or specified office hours, allows for the new manager to enjoy the idyllic holiday resort with lakefront water views and proximity to patrolled beaches, get in touch now to secure this prime Coastal investment.

- 66 dual key apartments and 38 in the letting pool provide exceptional rental flexibility.
- Freedom of operation with no requirement to live onsite and no specified office hours.
- Untapped potential with onsite rentals in the outside rental pool.
- Additional income opportunities through repair and maintenance services.
- Manager's one-bedroom apartment generating an additional $22,000 p.a.
- Profitable mix of short and long-term letting pools.
- Secure investment with long-term 24-year agreements.
- Idyllic holiday resort with lakefront water views and proximity to patrolled beaches.
- Inspections are strictly by appointment only
Date updated: 29 Dec 2024 22:00:03

More Information

Financial Overview

Total Purchase Price: $2,660,000
Net Income: $ 375,177 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 970,000
_{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: 38
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 24
_{Number of units resided in by their owners.}

Lock Ups: 1
_{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: 66
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 74,533
_{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: 24 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 hours
_{Required Office Hours}

Complex Features: Swimming pool, Spa, BBQ area, Covered outdoor and indoor entertaining areas, Games room, Licensed bar opens on demand

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 970,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 4

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: Dual key residence comprising of 1 x two bedroom apartment and 1 x two bedroom apartment, Back office and reception area on title, four car spaces including a two car garage. The one bedroom apartments is currently rented out at $22k earning additional income.