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Prime Management Rights Opportunity in Surfers ParadiseE
$2,290,000
Resort / Holiday management rights, Surfers Paradise QLD
Seize the opportunity to capitalise on this long established Surfers Paradise Management Rights business, whereby the current owner has been operating since 2014.
Centrally located in Surfers Paradise, this Management Rights complex is situated in a prime tourist location. A popular spot for holiday visitors due to being a short stroll to Cavill Avenue, beach, shopping, cafes, restaurants and its accessibility to the tram line.
Offering a mix of one, two and three bedroom fully self-contained airconditioned apartments, all featuring a private balcony with either an ocean, mountain or river view. Guests can enjoy amenities such as a Pool, Spa, Gym and underground secure parking.
With a supportive body corporate the business has just been successful in securing a top of their agreement to 24 years. The complex has just undergone a major refurbishment of their Tennis Court, Undercover BBQ area and Sauna/Public amenities area and as a result there is minimal caretaking duties to be undertaken. The body corporate also a gardener every four months to ensure the high level of presentation around the grounds.
Included is a ground floor airconditioned managers unit comprising of two bedrooms, one bathroom, separate laundry, one car space plus four large storage areas for management. The current owner chooses to live offsite and has an appointed nominee residing onsite.
With the hard work completed and systems in place, there is still huge potential to grow this business even further by securing the 18 outside agents back into the letting pool.
Call me today to discuss this opportunity!
Net Profit: $333,723
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: 5.0
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?