PREMIUM COOLANGATTA SUPER RIGHTSâ ENTER THE BIG TIME WITH LANDMARK PROPERTY | Resort Brokers ID : MR008090
Expressions Of Interest
Resort / Holiday Management Rights, Coolangatta QLD
ResortBrokers is privileged to present to market the management and letting rights to Reflections Coolangatta Beach.
With a net operating profit (NOP) of $2,000,000 for FY23, this is a genuinesuper rights offering, one of the largest ever to come to market on the Gold Coast.
Backed by a combined body corporate salary of $638,175 with annual increases linked to CPI, the business is based on 25-year caretaking and letting agreements, with a recent history of successful top-ups and long tenure to go.
This premium management rights business would suit an experienced operator looking to expand their portfolio with a top-tier complex.
Situated in the heart of Coolangatta directly across from Greenmount Beach, Reflections Coolangatta Beachs two landmark towers, Reflections onthe Sea and Reflections Tower 2, have made it one of Coolangattas most recognisable and sought-after holiday destinations.
Comprising 202 luxury apartments and resort-style facilities, Reflections Coolangatta Beachs exceptional visitor appeal is reflected in its extraordinary occupancy rate of over 92%, which is 25% higher than the Gold Coast average of 67%.
Reflections on the Sea and Reflections Tower 2 enjoy exceptional ratings: 8.7 and 8.2 respectively on Booking.com.
A 2020 TripAdvisor Travellers Choice award and back-to-back Best of Queensland Experience awards in 2022 and 2023 confirm Reflections Coolangatta Beachs exceptional tourist appeal and general prestige.
Astute operators should be quick to consider this rare super rights opportunity. The combination of a $2 million NOP, prime beachfront location and scope to grow the letting income, will undoubtedly attracta significant level of interest from high-quality, experienced and sophisticated operators.
Expression of interest calling for offers above 6.1x verified net profit + real estate at market valuation.
- Landmark Coolangatta resort in prime beachfront location.
- NOP $2M backed by $638K+ BC salary across two schemes.
- 202 total apartments over 2 towers.
- Accommodation module agreements.
- 87 apartments in letting pool.
- Consistently high performing holiday business with repeat clientele.
- Fantastic occupancy rate 92%+.
- Highly experienced on-site management/staff.
- Multi award-winning property.
- Inspection by appointment only.
Date updated: 12 May 2024 23:00:05
More Information
- Total Purchase Price: Expressions Of Interest
- Net Income: $ 2,000,000
(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: 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?