Excellent Business Opportunity in beautiful Palm Cove

$3,300,000

Resort / Holiday management rights, Palm Cove QLD

Superb Property In one of the most sought after holiday locations in TNQ. Four star with full resort facilities on large delightfully landscaped grounds. Comprising five individual buildings with four pools and three separate Wellness Spa Retreats. The Wellness Spas are fully operated by professional contractors. Perfectly sheltered in a Palm Cove location with a walk to the beach and a stroll to all restaurants. This property is the true picture of a real lifestyle business, with the manager enjoying a large three bedroom apartment with sunroom and outdoor grassed area. The Caf/Bar has recently closed.
Great dual key complex, providing spacious guest accommodation with flexible studio, one or two bedroom apartments. Top guest facilities and a niche market, along with repeat clientele, make this a top business. The property is currently run under management, has a very cooperative Body Corporate and over $200,000 incl. GST salary with 20 years on the Agreements. Great complex and deserves a high level of consideration by partnerships, corporates and other entities looking for a suitable and profitable property in lovely Palm Cove. Provides a very good 20% ROI on the total asking price.
Confidentiality Conditions Apply
Call Calvin for full property information and Inspection arrangements

More Information

Financial Overview

Total Purchase Price: $3,300,000
Net Income: $ 656,000 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 600,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 4.1
_{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: 35
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 8
_{Number of units resided in by their owners.}

Lock Ups: 6
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 7
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 58
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 206,175
_{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: 20 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 20 years
_{How long has the management rights existed.}

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

Complex Features: Four resort pools including one 50m Lap Pool, BBQ and entertaining areas, Onsite CafÃ©/Bar, Wellness Spa, Free Wi-Fi, Secure parking, Tour desk