Absolute Beachfront Short Term Gem - ID 8760

$1,826,000

Resort / Holiday management rights, Tugun QLD

Mixed Letting Management Rights For Sale
Southern End of the Gold Coast

- Well maintained mid rise resort
- Long standing managers have decided to retire
- 35 unit complex with 18 units in the letting pool
- Body Corporate salary of $78,000
- Long agreements with over 23 years remaining
- Sinking fund balance $252,000 as of 1 October 2024
- Would suit either experienced or first time operator
- Excellent Committee & Body Corporate
- Resort style facilites including heated pool, half tennis court & BBQ

The manager's apartment offers 2 bedrooms, 2 bathrooms, and double car parking. It is located on the ground floor in a quiet, private area and has direct access to the white sandy beach of Tugun.

Net Profit: $202,676
Asking Price: $1,826,000
(Inclusive of manager's real estate)

More Information

Financial Overview

Total Purchase Price: $1,826,000
Net Income: $ 202,676 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 975,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 4.2
_{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: 18
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 14
_{Number of units resided in by their owners.}

Lock Ups: 3
_{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: $ 78,000
_{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: 42 years
_{How long has the management rights existed.}

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

Complex Features: Pool, Half tennis court, BBQ facilitis, Security parking, CCTV, Wi-Fi, Broadband

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 975,000
_{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: The managers residence is located on the ground floor of the complex in a quiet and private location, 2 bedrooms, 2 bathrooms, 2 car parks, 3 balconies with one leading off the living area with ocean views and 2 others off the bedrooms, Exclusive Use reception area, Ideal beachfront lifestyle