STUNNING BOUTIQUE MANAGEMENT RIGHTS ON VICTORIA' S GREAT OCEAN ROAD | Resort Brokers ID : MR008186

$1,585,000

Resort / Holiday Management Rights, Port Fairy VIC

Resort Brokers is proud to offer the management rights and three-bedroom manager's residence of the Victorias located in Port Fairy on The Great Ocean Road. This quality boutique property, with 33 keys in the management rights letting pool has new 25-year agreements.

This business is ready for hands-on operators to take it to the next level. If you dont wish to be hands on. work on the business, not in it with a wage allowance in the financials of $123,000 to allow you to employ staff and you step back

One and two-bedroom apartments and incorporating The Drill Hall Cottage, which is a historic four-bedroom, cottage located beside The Victoria Apartments.

The Drill Hall Cottage accommodatesup to eight guests, comprising of three queen bedrooms and one room with two single beds. The living area has a large north-facing window to let in the winter sun, opening out to the paved courtyard.

The management rights package includes a stylish and comfortable three-bedroom managers residence and ground floor office/reception area.

- Unleash the potential with this hands-on operator's dream
- Secure your future with brand new 25-year agreements
- Enjoy low maintenance with no pools, gyms, or other facilities to upkeep
- Benefit from a supportive owner’s corporation
- Live comfortably in a high quality three-bedroom manager's residence, with a formal valuation of $800,000-(available on request.
- Maximise profits with all units in the manager's letting pool
- No Fixed Office Hours
- Inspections are by appointment only
Date updated: 15 Dec 2024 22:00:02

More Information

Financial Overview

Total Purchase Price: $1,585,000
Net Income: $ 289,357 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 800,000
_{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: 33
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 0
_{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: 0
_{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: $ 45,598
_{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: 0 years
_{How long has the management rights existed.}

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

Complex Features:

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 800,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 2

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 management rights package includes a stylish and comfortabl e three-bedroom managerâs residence and ground floor office / reception area