SURFERS PARADISE ICON - ID 9062

$2,135,000

Permanent management rights, Surfers Paradise QLD

Management Rights For Sale
Surfers Paradise Icon

Elevate your career with this prestigious high-rise management rights business encompassing 119 units.

- Managing 119 units, with 26 currently in the letting poolcomprising 23 permanent and 3 holiday units.

- Situated in the heart of Surfers Paradise, this property enjoys a coveted central location, ensuring a dynamic and bustling environment.

- Offering a combination of 1 and 2 bedroom units, catering to diverse tenant needs.

- Benefit from new agreements, offering long-term stability and peace of mind.

- Included is an office on title, ensuring efficient business operations.

- Residents enjoy access to a rich array of amenities, including 3 pools (2 heated), spa, sauna, BBQ areas, tennis courts, and a games roomelevating their living experience.

- Long-term tenants in place with rents reaching up to $530 per week, delivering consistent and attractive income.

- Just a leisurely stroll away from the beach, cafes, and restaurants, ensuring easy access to leisure and dining options.

- Provides peace of mind with dedicated security parking.

This iconic building is a standout in Surfers Paradise, offering an excellent salary package for the manager and unparalleled proximity to the city's amenities. With office hours limited to Monday to Friday, you can enjoy a desirable work-life balance.

Iconic building in the heart of Surfers Paradise. Great salary for manager and close to everything. Monday to Friday office hours only. 2 bedroom, 2 bathroom manager's residence.

Net Profit: $273,000
Total Asking Price: $2,135,000
(Inclusive of manager's real estate)

More Information

Financial Overview

Total Purchase Price: $2,135,000
Net Income: $ 273,000 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 650,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 5.4
_{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: 26
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 44
_{Number of units resided in by their owners.}

Lock Ups: 4
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 42
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 119
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 215,395
_{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: 42 years
_{How long has the management rights existed.}

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

Complex Features: 3 swimming pools 2 heated / 1 indoor, Spa, Sauna, Half Tennis Court, BBQs, Security parking, Games room, CCTV, Wi-Fi

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 650,000
_{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: 1
_{Is there a manager's office included on the title?}

Pets: Yes
_{Can the manager own a pet on site?}

Unit Features: Refurbished residence located on the 2nd floor, Two bedrooms, Two bathrooms, Air conditioning, Large balcony overlooking tropical gardens, Storage, Single car space