Absolute River Frontage in Surfers Paradise - ID 9169

$1,550,000

Resort / Holiday management rights, Surfers Paradise QLD

Mixed Letting Management Rights For Sale
Minutes To Fabulous Gold Coast Beach

- Easily managed by a couple
- 2 bedroom, 1 bathroom manager's unit (easily converted to 3 bedroom)
- Office / reception / lobby all exclusive use
- Adjacent to a park
- Light rail at the front of the building
- Full resort facilities - pool, gym, spa, sauna
- Easy care grounds provide a relaxing environment
- Marina with capcity for several boats (only $20 per week each)
- No major works to be completed with $1M sinking fund
- Minutes to iconic Surfers Paradise beach
- Full 10 years on agreements

Ideal business for first timers to the management rights industry. Healthy salary and inocme with a supportive committee intent on building upkeep. Genuine reason for selling, long term owners wanting to relocate.

Net Profit: $205,559
Asking Price: $1,550,000
(Inclusive of manager's real estate)

More Information

Financial Overview

Total Purchase Price: $1,550,000
Net Income: $ 205,559 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 795,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 3.7
_{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: 15
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 46
_{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: 2
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 64
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 117,713
_{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: 10 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 35 years
_{How long has the management rights existed.}

Office Hours: As per agreements
_{Required Office Hours}

Complex Features: Heated pool, Spa, Sauna, BBQ, Security parking, Gym, CCTV, Broadband and Wi-Fi

Real Estate Component

Manager's Unit: 2 1

Included Real Estate: $ 795,000
_{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: 0
_{Is there a manager's office included on the title?}

Pets: No
_{Can the manager own a pet on site?}

Unit Features: 2 bedrooms, Office and 2 living areas offering potential to convert to 3 bedrooms. Adjacent to reception. Patio with direct access to common use garden area. Media room, office and lobby are on exclusive use. 2 car parking spaces and linen rooms.