Off The Plan Business Only In Heart Of Southport Completion November 2023.
$380,000
Off The Plan Management Rights, SOUTHPORT QLD
RAAS Management Rights OTP is excited to present this exceptional opportunity to secure the Waverley Residences, an off-the-plan business-only building. This rare proposition is hard to come by in the sought-after Southport area.
Waverley Residences are strategically located at the business center of the Gold Coast region in Southport, making them highly attractive to investors and tenants seeking their slice of the Gold Coast lifestyle.
Scheduled for completion in September 2023, with settlements anticipated in late October 2023, Waverley Apartments has a new 25-year agreement, providing flexibility for potential investors. Notably, there is no stipulation to own real estate in Waverley Residences. The complex will be caretaking only and comes with the letting agreement but with no letting appointments, offering a unique opportunity for management rights to grow their letting pool.
Opportunity Overview:
RAAS Management Rights OTP is delighted to offer this rare opportunity to secure this off-the-plan business-only building.
Executive Summary:
Business Address: 15 Waverley Street, Southport 4215
Module Type: Accommodation
Term of Agreement: 25 Years
Number of Units in Building: 60
Number of Units in Letting Pool (Projected): 0
Parking: Secure/Undercover
Other Facilities: Rooftop BBQ Area
Body Corporate Salary: $84,000
Sinking Fund: To be confirmed (TBC)
Levies: To be advised (TBA)
Price: $380,000
Business Highlights:
Business Only
No Office Hours
Contactable
Location Overview:
Distance from Gold Coast Airport: 40km or 35 mins by car
Gold Coast Economy: $30 billion
The population of Southport: 32,000
Southport is poised to benefit from the Gold Coast's central 'structural uplift' resulting from significant public and private infrastructure spending and a pipeline of projects totalling billions.
Market Insights:
Population Growth: The Gold Coast has an economic catchment of 3.6 million people, and the region's population is forecast to grow at 2.8% p.a. over the next 10 years, making it one of the fastest-growing areas in Australia.
Economic Growth: Urbis forecasts a projected increase of around 70 per cent in employment between 2016 and 2041, with more than 433,000 jobs expected to be created (equating to 7,100 jobs per year).
Infrastructure Boom: The Gold Coast has seen over $13 billion worth of completed, under-construction, or planned projects within 18 months.
This opportunity is not to be missed, and we invite you to take advantage of this unique chance to secure the management rights to Waverley Residences. For more information or to arrange a viewing, please contact us today.
More Information
- Total Purchase Price: $380,000
- Net Income: $ 84,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 0
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 4.5
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?