CARETAKING-ONLY + $108K SALARY + 'OPTION' TO PURCHASE 3-BED UNIT | Resort Brokers ID : MRC008160

$320,000

Permanent Management Rights, Bogangar NSW

This unique offering is a testament to the strength of the local market, with its prime location and flexible options making it a standout investment.

Reef Villas is made up of 50 units, across three boutique complexes, each with manageable resort style facilities and ample lock up storage areas adding to the convenience and functionality for the incoming operator. It is impeccably maintained by the current owners who have also built strong relationships with the committees, allowing for an easy transition.

Whilst this is being offered as caretaking-only, there is an option to purchase a large 3-bedroom, 2.5-bathroom unit with study and DLUG valued circa $1.1mil, so buyers have the option of buying the Manager's lot to reside on site or choose to buy it as a"business only"opportunity.

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Caretaking-only business

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Incredible caretakers salary $108k (+gst)

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Easily managed complex with freedom of office hours

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Office on title + three storage spaces for equipment

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Option to purchase a fantastic unit

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Security-gated Villas with manicured grounds

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Stroll to the famous Cabarita patrolled surf beach

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Agreements topped up to 10 years upon sale

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Located close to shops and backing onto a canal

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Inspection by appointment only

Date updated: 27 Oct 2024 22:00:03

More Information

Financial Overview

Total Purchase Price: $320,000
Net Income: $ 0 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,100,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: undisclosed
_{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: 6
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 39
_{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: 4
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 50
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 108,789
_{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: 6 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 0 years
_{How long has the management rights existed.}

Office Hours: No set office hours across all schemes
_{Required Office Hours}

Complex Features: 3 swimming pools, BBQ Areas 300 meters from the famous Cabarita patrolled surf beach Sprawling security gated buildings are set amongst manicured gardens and common recreational areas interlocked with pathways while also backing onto a canal.

Real Estate Component

Manager's Unit: 0 0

Included Real Estate: $ 1,100,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 0

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: large 3-bedroom, 2.5-bathroom unit with study and DLUG valued at circa $1.1mil,