Tropical Resort/ Management Rights

$1,240,000

Resort / Holiday management rights, Port Douglas QLD

This is the perfect easy to run business for those seeking to earn a reliable income with real YOY profit growth as well as time to enjoy a tropical lifestyle in paradise. With annual CPI increases in the Caretaking remuneration and Letting Agreements as well as a 5 yearly market review, everything is in place for the continued growth of the business and ROI. There is an active and supportive Body Corporate.

A short walk to the Port Douglas village center and stunning Four Mile Beach this 3 star resort offers fantastic value for money. Large swimming pool and beautiful easy to maintain tropical gardens. It is a popular holiday complex with 1- and 2-bedroom apartments for all demographics. In the highly desired location of Port Douglas, affordable 3+ star accommodation is in high demand in all economic climates.

There has been a continuous program of modernization of the interior of the apartments and external common areas. The property is ideally positioned to take advantage of the transformation of the local area which is seeing increased investment in high end property.

The managers apartment is a comfortable, modernized two-bedroom, 1 bathroom apartment with 2 patios and garden to enjoy. Fully Furnished. Car parking space. The reception is on title and adjourns the managers accommodation.
With no obligation to live on site, the managers apartment is presently holiday let, delivering excellent returns for the manager.

Summary:
* Real YOY increase in ROI
* Healthy caretaker's renumeration
* Annual CPI increases
* New letting agreements 2022.
* Long letting/caretaking agreement of 24 years
* Supportive Body Corporate Committee
* Comfortable managers apartment
* No obligation to live on site
* Easy to maintain common area

This management rights represents excellent returns in a stunning location and will suit a 1-2 person operation. Call now, as businesses like this get snapped up quickly!

More Information

Financial Overview

Total Purchase Price: $1,240,000
Net Income: $ 220,000 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 425,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 3.7
_{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: 18
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 4
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 2
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 24
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 59,500
_{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: 38 years
_{How long has the management rights existed.}

Office Hours: Non specified
_{Required Office Hours}

Complex Features: A short walk to the Port Douglas village center and stunning Four Mile Beach â this 3 Â½ star resort with large pool offers fantastic value for money. It is a popular holiday complex with 1- and 2-bedroom apartments for all demographics. There has been a continuous program of modernization of the interior of the apartments and external common areas. The property is ideally positioned to take advantage of the transformation of the local area which is seeing increased investment in high end property.

Real Estate Component

Manager's Unit: 2 1

Included Real Estate: $ 425,000
_{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 managers apartment is a comfortable, modernized two-bedroom, 1 bathroom apartment with 2 patios and garden to enjoy. Fully Furnished. Car parking space. The reception is on title and adjourns the managers accommodation.