Absolute Beach Front Management Rights - ID 8595

$815,000

Resort / Holiday management rights, Yorkeys Knob QLD

North Queensland Management Rights for Sale

Consistent Performer, Absolute beachfront, with Excellent BC Salary Yorkeys Knob

Guaranteed BC salary of $49,945.92 Inc GST, annual net profit of $95,380
11 units in letting pool, happy owners all on board
Well maintained gardens and pool
Expansive absolute beachfront 3 bedroom fully refurbished managers residence.
Large office on title
Supportive committee and owners
17 years left on rights, with scope to top up to 25 years at next BC meeting
Resort style pool and BBQ area, with Wi-Fi and Cable TV
Extensively refurbished apartments, and ready to reap the rewards of letting.
A large Sinking fund of $115,000 to undertake many more improvements
500m from all shopping, medical services and 15-minute drive to International Airport

Ideal for an active couple wishing to escape the cold southern states and looking to either maintain the letting pool or possibly take the property into its next phase of development, by tacking another adjoining property to the letting pool.

The absolute beachfront location is perfect, the residence expansive and comfortable, the complex is compact, and the lifestyle is relaxed and comfortable.

Showing a 41% return on the Business Investment, you cannot go wrong with this management rights, with sea views of the Coral Sea, your residential property will only appreciate over the life of the rights.

Net Profit: $95,380

Asking Price: $815,000

(Representing $590,000 Real Estate and $225,000 Management Rights)

More Information

Financial Overview

Total Purchase Price: $815,000
Net Income: $ 95,380 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 590,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 2.4
_{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: 11
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 7
_{Number of units resided in by their owners.}

Lock Ups: 0
_{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: 18
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 49,954
_{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: 17 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 28 years
_{How long has the management rights existed.}

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

Complex Features: Swimming pool, BBQ area/community tables and chairs, established and easy to maintain gardens, Wi-Fi, Cable TV, Tour Desk, Parking