PRICE REDUCTION - SURFERS PARADISE

$1,650,000

Resort / Holiday management rights, Surfers Paradise QLD

Live and work by the beach with this fantastic holiday complex in Surfers Paradise. An excellent opportunity exists to purchase a great business in a prime tourist location. Showing excellent net profit and with 23 years left on the agreement this management rights business is great buying.

There are 12 apartments (2 apartments are dual key) in the letting pool. The complex has an outstanding reputation with guests and has a rating of "9.2 out of 10 Superb", one of the highest in the area.

Offering a great lifestyle, low maintenance complex, with no set office hours and great systems in place this is the perfect business for first timers to the management rights industry or experienced operators. Easily run by 1 person with a fantastic and supportive Body Corporate and committee. There is also an opportunity to live off site offering further income potential with the current rental market at an all-time high.

This complex is a guest favourite, with great room options available from Studio rooms, 1-bedroom apartments, 2-bedroom apartments to a 3-bedroom penthouse.

- Perfect for first timers
- Low Maintenance
- No set office hours
- 100 metres from tram and shopping centre
- 100 metres to one of the best Surf Clubs on the coast
- Beach access directly opposite
- Great Managers Unit
- Fantastic and supportive Body Corporate and committee

Call now for further information or to arrange an inspection.

More Information

Financial Overview

Total Purchase Price: $1,650,000
Net Income: $ 173,492 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 950,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 4.0
_{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: 12
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 10
_{Number of units resided in by their owners.}

Lock Ups: 2
_{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: 24
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 57,151
_{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: 43 years
_{How long has the management rights existed.}

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

Complex Features: Swimming Pool, Spa, Sauna, Secure Underground Parking

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 950,000
_{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: Stylish 2-bedroom, 2-bathroom apartment huge courtyard and additional entertaining room, 1 car space with the reception area conveniently located to the managers residence