Long Term Vendor Says Sell - ID 8922

$2,530,000

Resort / Holiday management rights, Burleigh Heads QLD

Holiday Management Rights For Sale
Magnificent Holiday Business Only 30 Metres from the Beach in Burleigh Heads

Priced below market
Building has been fully renovated
Agreements to be topped up to 10 years prior to settlement
Large reception and office on title, no set office hours
Healthy sinking fund of over $800,000 with very little capital works in the pipeline
Very organised and well run complex, detailed systems in place for new manager
Impressive 2 bedroom residence (2023 valuation available to approved purchasers)
All units have uninterrupted ocean views
Excellent Body Corporate and proactive committee

On offer is this iconic high rise holiday building located in the established ocean side suburb of Burleigh Heads, just across the road from one of the best beaches on the Gold Coast. The location and the building facilities generate a large amount of repeat business.

Net Profit: $518,503
Asking Price: $2,900,000
(Inclusive of Manager's Real Estate)

More Information

Financial Overview

Total Purchase Price: $2,530,000
Net Income: $ 518,503 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 890,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 3.2
_{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: 29
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 22
_{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: 8
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 62
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 107,114
_{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: 43 years
_{How long has the management rights existed.}

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

Complex Features: Swimming pool, BBQ, Storage, Gym

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 890,000
_{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: No
_{Can the manager own a pet on site?}

Unit Features: Located on the ground floor away from reception / office. Two bedrooms, two bathrooms and once car space, air conditioning, ceiling fans, security screens and large private courtyard.