CORPORATE / HOLIDAY COMPLEX
$ 1.595.000,-
Resort / Holiday management rights, Cairns North QLD
This Holiday Apartment complex occupies a strategically smart location between Cairns Airport and the CBD and has for years attracted strong patronage from the corporate and holiday market.
The property is a 5 level complex with elevator access, off street parking and a resort atmosphere providing the ideal base for visitors to Far North Queensland.
The complex was constructed in 1994 and has been very well maintained and upgraded throughout as needed.
Offering 1 and 2 Bedroom Apartments tastefully furnished with standard decor, fully equipped kitchen and laundry facilities, private balconies and every amenity for the modern traveler and corporate clients. With spacious resort pool and spa facilities with barbecue, The resort is the perfect place to unwind at the end of a day sightseeing and relaxing.
The current business agreement expires 2043 and the BC salary currently $131,720, with annual CPI reviews, is very attractive. The business has always been a good performer and while COVID had some impact, it was nowhere near the impact most holiday accommodation suffered. Consequently the recovery in 2021 & 2022 has been excellent.
The resort is using a pooled income for units in the managers letting pool.
The managers residence comprises of 1 x 2 bedroom plus a fully self contained interconnecting 1 bedroom apartment which provides flexible options for incoming managers.
Reception and Back office are on title with direct access from the managers residence. The manager has exclusive use of the fully enclosed 3 bay garage and a separate laundry room.
Retirement reasons and the vendor is genuine about selling.
This is a business definitely worth consideration on several counts and your inspection is recommended.
More Information
- Total Purchase Price: $ 1.595.000,-
- Net Income: $ 350,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 420,000
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?