653

Management Rights
For Sale

Motels / Hotels
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Caravan Parks
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813

Investment Property
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Maroochydore Beach Stunner

$1,400,000

Resort / Holiday management rights, Maroochydore QLD

PRICE REDUCTION - Perfect entry level Management Rights with modern manager's apartment. This popular and easy to run holiday apartment complex is right at beautiful Maroochydore beach and provides a dream, semi-retirement lifestyle. 10 holiday let apartments and straightforward caretaking role means relaxed days. Easily operated by one person, there is plenty of opportunity to add your own cleaning and mowing to increase your income - especially for a couple. Enjoy the spectacular beach and Maroochy river on your doorstep along with the warm subtropical climate and relaxed Cotton Tree village lifestyle. See photos.

The Letting and Caretaking Agreements Top-up (back to 10 years) is being voted on in the AGM in Feb 2025.

This business and lifestyle may be just what you're looking for (and what you need). Outstanding booking and management software by Resly, great website, new Wi-Fi, excellent business systems for ease of operation and a low maintenance complex in an idyllic location. Circle this one for a closer look and contact me today for a full information memorandum.

More Information

Financial Overview

Total Purchase Price: $1,400,000
Net Income: $ 166,067 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 850,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 3.3
_{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: 10
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 5
_{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: 4
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 20
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 59,319
_{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: 7 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 30 years
_{How long has the management rights existed.}

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

Complex Features: Coral Sea Apartments has one of the best positions for a holiday complex in Maroochydore. It is literally 50 metres from the popular Maroochy Surf Club and the beautiful, patrolled Maroochydore beach. This is highly valued by guests who love the proximity to both these attractions as well as being only one block to the Cotton Tree shops and 2 blocks to the Maroochy River and Cotton Tree Park. There are 13 cafes, 4 restaurants and 2 clubs all within three blocks of Coral Sea Apartments. There are 9 holiday let apartments in our letting pool and 20 in the complex. One or two units may be added soon. All units are spacious 2 or 3 bedroom, fully self-contained apartments, each with a fully equipped kitchen, washer and dryer, 2 bathrooms, lock up garage and large balcony. The complex has a heated pool and 2 BBQs with tables and umbrellas. A favourite of many holiday makers, Coral Sea has substantial repeat guests and is highly sought after by couples and families.

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 850,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 0

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: The managers apartment is 103 square metres and has internal access to the reception. Unit 1 is a 2 bedroom, 2 bathroom apartment with two beautiful, renovated bathrooms and a renovated kitchen. This unit also includes a 96 sq m exclusive use courtyard consisting of gardens, grass and concrete areas with a removable shade sail. This outdoor area is an outstanding asset to the managers apartment making for a great lifestyle. The 7 ground floor unit photos are of the managers apartment and reception. The garage has partially been converted to a laundry and the remaining garage utilised as a storeroom for the business. There are also 2 sheds and two other storerooms onsite. A commercial 10kg washer and the dryer and loads of equipment are included in the sale. Purpose bought furniture in the managers unit can also be included. There is ample extra parking on-site and loads of free and unrestricted street parking too.