Extremely profitable and rare commercial management rights opportunity | Resort Brokers ID : MR008016
$2,450,000
Resort / Holiday Management Rights, Cairns City QLD
Cairns Night Markets is a thriving business attracting 2.7 million people annually through its doors, assisting greatly in attaining a high occupancy rate of 96% throughout the property.
Boasting an extremely large net profit in excess of $400k, this is a terrific opportunity for an operator seeking the benefits of a management rights business without the residential aspect involved from an accommodation point of view. As there is no residence to purchase, there is no residential requirement.
Additionally, there are no set office hours. The agreements require administrative duties only, with Body Corporate providing payment for cleaning duties. This is an outstanding business opportunity for a commercially minded person.
- Consistent year on year profit growth
- Body Corporate Salary in excess of $100k Net Profit
- Net Profit in excess of $400k
- Administrative duties only listed in agreements
- Body Corporate pay additional for cleaning duties
- Foot traffic through markets - 2.7 million annually
- 22 years remaining on agreements
- Income derived from Owner Occupiers and Tenants alike
- 96% occupancy
- Inspections by appointment only
Date updated: 28 Apr 2024 23:00:04
More Information
- Total Purchase Price: $2,450,000
- Net Income: $ 401,679
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 450,000
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?