Management Rights Hervey Bay - 20% ROI

$1,499,000

Resort / Holiday management rights, Torquay QLD

EXCLUSIVE TO CRE BROKERS. Venture a little north of SE Queensland and find a beautiful Holiday Management Rights property opposite the beach with high return on investment.
Hervey Bay has gone ahead in leaps and bounds in recent years. 2018 saw record breaking tourism numbers throughout the region and accordingly profitability on investments like this is rising.
Post Covid, Hervey Bay has experienced a rise in property values and the second half of 2020 saw many previous tourism records broken. Hervey Bay is only about 300 km from Brisbane and an easy drive even for a weekend away.
Hervey Bay is the gateway to Fraser Island and a very popular whale-watching destination. But Hervey Bay is so much more then that: It plays host to numerous sporting, musical and motoring events and is home to Queensland's most advanced regional hospital.
The Federal Government recently allocated $9M in funding the upgrade of Fraser Coast Airport which offers daily direct flights to and from Sydney and Brisbane.
This business is in an enviable location across the road from a child-friendly beach, surrounded by cafes and restaurants. The manager' s unit has been upgraded with a stone-top kitchen with stainless steel appliances.
Business Price: $1,029,000
Unit Price: $470,000
Net profit:
FY 2019 - $302,442
FY 2020 - $231,651
Jun Dec 2020 (6 months) $166,634

More Information

Financial Overview

Total Purchase Price: $1,499,000
Net Income: $ 300,000 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 470,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 3.4
_{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: 24
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 7
_{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: 2
_{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: $ 58,217
_{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: 18 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 1993 years
_{How long has the management rights existed.}

Office Hours: M-F 07:30 - 20:30, S-S 08:00 - 20:00
_{Required Office Hours}

Complex Features:

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 470,000
_{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: No
_{Can the manager own a pet on site?}

Unit Features: Upgraded managers unit with stone-top kitchen and stainless steel appliances. Very spacious unit including large balcony, master with ensuite and therapeutic spa in bathroom.