ENVIABLE LUXURY BEACHFRONT COMPLEX OFFERING A TRUE LIFESTYLE BUSINESS | Resort Brokers ID : MR008418

$1,310,000

Resort / Holiday Management Rights, Mermaid Beach QLD

ResortBrokers presents an exceptional chance to secure a premium management rights short-let business in one of Australias top-tier holiday destinations, Mermaid Beach. When location really is everything, this absolute beachfront, lifestyle business is not to be missed!

Foreshore Beachfront Apartments, a six-level midrise building comprised of 35 one and two-bedroom, self-contained apartments with 10 units in theletting pool, offers the perfect opportunity for a sole operator or a relaxed couple to operate whilst maintaining a coastal lifestyle, thanks to minimal caretaking requirements across the easy-to-manage facilities and low maintenance grounds.

The manager's one-bedroom/one-bathroom unit features aprivate outdoor entertainment area, alternatively, there is an option of renting a two-bedroom/two-bathroom unit should you require a larger living space.

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Solid Body Corporate Renumeration $60,463

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Upshot to increase letting pool - 3 x outside agents + 6 lockups

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Increase Net Profit by undertaking garden maintenance

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Accommodation agreements with 17 years remaining

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Immaculate one and two-bedroom, fully self-contained apartments

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Perfect for first-time operators or those seeking a true work/life balance

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Walking distance to local surf club, cafes, restaurants, bars and boutiques

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Property inspections are by appointment only

Date updated: 01 Dec 2024 22:00:04

More Information

Financial Overview

Total Purchase Price: $1,310,000
Net Income: $ 170,598 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 550,000
_{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: 10
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 15
_{Number of units resided in by their owners.}

Lock Ups: 6
_{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: 35
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 60,463
_{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: 17 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: Mon - Fri 8.30am - 5.00pm, Sat 9.00am - 12.00pm
_{Required Office Hours}

Complex Features: Barbecue area, outdoor swimming pool

Real Estate Component

Manager's Unit: 1 1

Included Real Estate: $ 550,000
_{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: 0
_{Is there a manager's office included on the title?}

Pets: yes
_{Can the manager own a pet on site?}

Unit Features: One-bedroom, one-bathroom manager's residence Manager's unit features a private outdoor entertainment area Option to rent a larger unit for living arrangements