Devine DeVille, a prime mixed Management Rights footsteps from the beach. | Resort Brokers ID : MR008491

$3,200,000

Resort / Holiday Management Rights, Main Beach QLD

ResortBrokers presents DeVille Apartments Main Beach, a prime Management Rights opportunity.

Located opposite Main Beach's golden sands, this property offers diverse accommodation options with high occupancy.

Facilities include a full-sized tennis court, heated pool, spa, sauna, and barbecue area. The manager's residence is a stylish two-bedroom unit with an office on title.

With a NOP exceeding $400,000 and a full 10-year standard module, this is a secure and profitable investment.

- Prime location directly opposite Main Beach's golden sands.
- Minimal garden duties with a supervisory role.
- Comprehensive facilities include a full-sized tennis court, heated pool, spa, sauna, and BBQ area.
- High occupancy with diverse accommodation options - 1, 2, and 3 bedroom units.
- Elegant 2-bedroom manager's residence with office on title.
- Impressive NOP exceeding $400,000.
- Secure investment with a full 10-year standard module.
- Cooperative Body Corporate Committee.
- Inspections are by appointment only
Date updated: 04 Nov 2024 22:00:02

More Information

Financial Overview

Total Purchase Price: $3,200,000
Net Income: $ 420,000 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,100,000
_{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: 25
_{Number of units resided in by their owners.}

Lock Ups: 37
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 3
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 104
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 164,000
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 10 years
_{How long is the caretaking contract.}

Agreement Remaining: 9 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: Made available M-F 9-5 Sat 9.30-12
_{Required Office Hours}

Complex Features: Heated pool&spa, poolside amenities block, covered patio&BBQ area, full sized tennis court, steam room

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 1,100,000
_{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: two bedroom, two bathroom, managers residence plus large office reception area fully renovated