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NET PROFIT $330K - LIVE OFF SITE
$2,290,000
Resort / Holiday Management Rights, SURFERS PARADISE QLD
This stunning Surfers Paradise, Gold Coast Management Rights is now on the market.
Right in the heart of Surfers Paradise and positioned to enjoy the lifestyle this entails. This high-rise apartment building caters for both holiday and residential clientele, enjoying ocean, river or mountain views.
Residents and guests can immerse themselves with the plethora of restaurants, cafs, bars, nightclubs, and shopping that the Gold Coast has to offer. Theme parks such as Dreamworld, White Water World, Sea World and golf courses are easily accessible.
The Management Rights business is solid with current operators benefiting from 10 years of experience. Over that time the Body Corporate Salary itself has now grown to a healthy $112,000 p.a. (+ GST), increasing yearly by CPI. Over 24 years remain on management agreements as a good relationship with owners has recently allowed for a top up.
The building itself has recently benefited from a refurbishment of many of its common area facilities whilst the Body Corporate is very supportive.
Furthermore, there is an opportunity for the incoming operator to increase the rental pool and thus profitability by bringing onboard a significant number of on-site lets currently held by outside agents.
The two-bedroom, ground floor manager's apartment has secure underground parking and is blessed with plenty of storage.
Currently the manager's nominee is living on-site as there is flexibility there within the agreements.
With the Olympics around the corner in 2032 don't miss this opportunity to get on board!
More Information
- Total Purchase Price: $2,290,000
- Net Income: $ 333,723
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 629,500
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.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Required Office Hours
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?