Create LExclusive - Iconic Mixed Use Apartments - ID 9181isting

$3,300,000

Resort / Holiday management rights, Labrador QLD

Management Rights For Sale
Labrador - Overlooking the Gold Coast Broadwater

- Superior style apartments
- 146 lots with 43 in the letting pool
- Superb lifestyle facilities
- Long agreements with over 17 years remaining
- Body corporate salary $252,900 inclusive of GST
- Large reception and back office on title
- REI Cloud property management system
- Sinking fund balance of over $1,050,000
- Supportive and proactive body corporate
- Elevated 2 bedroo, 2 bathroom manager's residence

The complex is located in Labrador on the Gold Coast, situated on the panoramic Broadwater with easy access to Gold Coast theme parks, Marina Mirage and Harbourtown shopping, dining and entertainment precinct. Perfectly positioned to enjoy all that the Gold Coast has to offer.

Net Profit: $450,800
Asking Price: $3,300,000
(Inclusive of manager's real estate)

More Information

Financial Overview

Total Purchase Price: $3,300,000
Net Income: $ 450,800 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 895,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 5.3
_{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: 43
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 75
_{Number of units resided in by their owners.}

Lock Ups: 17
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 9
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 146
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 252,900
_{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: 24 years
_{How long has the management rights existed.}

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

Complex Features: Lift, heated swimming pool, sauna, gym, spa, steam room, meeting room, secure garage, Wi-Fi

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 895,000
_{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: The Managerâs apartment is fully self-contained, light and spacious with open plan living areas. Similar in style to the larger complex apartments. The apartment has two comfortable bedrooms and two well designed bathrooms ensuite plus a separate laundry and a well-appointed kitchen with the latest European appliances and a large balcony for alfresco dining. There is one exclusive use car park on title plus additional storage. The apartment is air-conditioned with fans and a pet is permitted with Body Corporate approval.The managers office/reception area is attached to the managers unit and is on title. The office/reception/storage is quite large over 52mÂ². The booking system is REI Cloud, there are office hours in the agreement 8:30am-5:00pm Monday to Friday and 9:00am-12:00pm on Saturday. The office is closed on Sunday.