Rare North Facing Beachfront Location

$3,600,000

Resort / Holiday management rights, Moffat Beach QLD

Premier oceanfront property with an outstanding north facing position, directly across the road from one of the best surf beaches in Caloundra on the Sunshine Coast, this blue chip business is close to shops and restaurants but at the quieter end of Caloundra.

With stunning ocean views from every unit due to the unrivaled beachfront location, all of the spacious, tastefully furnished 2 and 3 bedroom apartments are fully self contained with well-equipped kitchens, laundries and 4 m. deep furnished balconies or large patios.
Just a 5 minute drive to Bulcock and all that Caloundra has to offer, this property offers the perfect holiday destination. Relaxation mixes with adventure and nature complements resort lifestyle. Just an hour north of Brisbane, it is the perfect base for a Sunshine Coast escape. Forget the car you wont need it. You will be able to walk to local shops, cafes and restaurants.

The business is a very manageable size with only 42 units in the building and 28 of these in the letting pool. The majority of the units are finished to a high standard, all are generous in size.
Notwithstanding the consistently solid profits there is still plenty of upside in this business with 10 units outside the current rental pool.

An inspection is a must for those considering a sea and lifestyle change!
With long-standing agreements in place and a stable letting pool, stepping into this business means stepping into a well-oiled machine poised for growth.
Investors will also enjoy attractive yields and strong occupancy rates in this sought-after location. Consistent year on year growth with the opportunity for further growth, this premier beachfront property presents an unparalleled opportunity to the savvy investor.

Key Highlights
Stunning location overlooking Moffat Beach and close to all amenities
Close proximity to Sunshine Coast tourist attractions
Solid existing short-term letting pool and high guest return rate
Ideal building for start-up or experienced management
28 in the letting pool
24 years remaining on agreements
Body Corporate salary over $103,000 plus GST
Exceptional visitor appeal with AVG occupancy rate of over 81%
Historically supportive Body Corporate committee

More Information

Financial Overview

Total Purchase Price: $3,600,000
Net Income: $ 455,753 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,200,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 5.3
_{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: 28
_{Number of units the manager is authorised to manage.}

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

Lock Ups: 8
_{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: 42
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 103,710
_{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: 23 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: As per agreements
_{Required Office Hours}

Complex Features: Heated pool, spa, sauna, BBQ, lift to all levels

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 1,200,000
_{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: The spacious 3 bedroom/2 bathroom second floor managers unit benefits from a northerly aspect with fabulous ocean views all the way to Noosa from its huge balcony. It has both a back office and front office area which offers a professional welcome and business hub for the property. Additional exclusive-use areas include a large shed and an abundance of storage facilities for operational systems, equipment and linen.