High Net Resort - Southern Gold Coast Gem - ID 9147

$2,660,000

Resort / Holiday management rights, Greater Gold Coast Region

Holiday Management Rights For Sale
Great Location in Tropical Surrounds

- 66 dual key apartments with 38 in the letting pool
- Body Corporate salary of $74,500
- 24 years remaining on agreements
- No requirement to live onsite
- No office hours specified in agreements
- Excellent Body Corporate and committee
- Opulent and spacious receptions and back office on title
- An organised and well run complex
- Dual key manager's apartment (1 x 2 bed and 1 x 1 bed)
- The 1 bedroom apartment is currently rented at $23,140 per annum

Located on the southern end of the Gold Coast, this business is conveniently located close to the Airport, public transport, patrolled beaches, University and Private Hospital.

Net Profit: $375,170
Asking Price: $2,660,000
(Inclusive of manager's real estate)

More Information

Financial Overview

Total Purchase Price: $2,660,000
Net Income: $ 375,170 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 970,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 4.5
_{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: 38
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 24
_{Number of units resided in by their owners.}

Lock Ups: 1
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 1
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 66
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 74,553
_{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: 24 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 40 years
_{How long has the management rights existed.}

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

Complex Features: Swimming pool, Spa, BBQ area, Covered outdoor and indoor entertaining areas, Games room, Licensed bar opens on demand

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 970,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 3

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: Dual key residence comprising of 1 x 2 bedroom apartment and 1 x 1 bedroom apartment, Back office and reception area on title, 4 car spaces including a 2 car garage. The one bedroom apartments is currently rented out earning additional income.