WATERFRONT COMPLEX OFFERING A TRUE LIFESTYLE BUSINESS | Resort Brokers ID : MR008590

$1,450,000

Resort / Holiday Management Rights, MERIMBULA NSW

ResortBrokers is thrilled to present the management rights and associated real estate of Merimbula Lake Apartments, a profitable business located in a well-established tourist destination. This exceptional opportunity includes management of a modern, 11-unit complex, with nine units currently in the letting pool. The property is zoned exclusively for short-term holiday accommodation, offering flexibility with a mix of one-bedroom and two-bedroom options, as well as a beautifully renovated, three-bedroom managers residence.

Situated directly across from Merimbula Lake, every unit boasts stunning lake views and convenient access to local cafes, restaurants, and attractions. New 10-year management agreements commencing in 2024, provide excellent income stability. Merimbula Lake Apartments seamlessly combines location, profitability, and lifestyle, making it a desirable investment opportunity

- No requirement to reside onsite with full real estate licence
- New 10 year agreement as of 2024
- Directly across the road from the lake
- Walking distance from many cafes and restaurants
- Manager's unit currently earning solid income
- Strictly zoned as short-term holiday accommodation
- Three bedroom, two bathroom open plan completely renovated apartment with own private enclosed courtyard
- Inspections are strictly by appointment only
Date updated: 29 Jan 2025 22:00:02

More Information

Financial Overview

Total Purchase Price: $1,450,000
Net Income: $ 160,690 (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: 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: 9
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 0
_{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: 0
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 11
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 41,455
_{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: 10 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: none fixed
_{Required Office Hours}

Complex Features: Outdoor heated saltwater pool and covered BBQ area

Real Estate Component

Manager's Unit: 3 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: 2

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: open plan completely renovated apartment with own private enclosed courtyard with access to the pool. Walk in robe to main bedroom and built in robes to 2nd and 3rd bedrooms with their own working desk space. Jack and Jill style bathroom between the 2nd and 3rd bedroom. Separate laundry with an abundance of built in storage. Built in storage can be removed and the Laundry converted back to a single car garage if required. Ground floor location with amazing lake front views. Option to come fully furnished.