617

Management Rights
For Sale

Motels / Hotels
For Sale

Caravan Parks
For Sale

666

Investment Property
For Sale

Secure Income Permenant Complex

$1,195,000

Permanent management rights, Clifton Beach QLD

This beautifully maintained complex is the perfect opportunity to purchase a guaranteed income business in one of Australia's most competitive rental markets. With a healthy caretakers Salary (increasing in Feb 2022), and a large share of the units in your rental pool this really is a great opportunity to make the move to Tropical North Queensland!

The 3 building permanent residential complex offers the best of resort living, centered around a large lap pool, and features a wading pool for little ones, a Cabana with BBQ's / seating not to mention a well equipped gym. Tropical gardens throughout have been well maintained, and the complex has a very healthy sinking fund with many projects underway with the welcoming pro-active committee. Positioned half way between Cairns and Port Douglas, the complex is also close to James Cook University, schools (with bus stop out front), close to shops, walking distance to pristine Clifton Beach with the beautiful Palm Cove tourist district just up the road.

The managers residence is well positioned on the top floor with views out to the ocean and several balconies to take advantage of the "indoor / outdoor" lifestyle that is synonymous with Tropical living. This 2 level Sky Villa Penthouse has beautiful finishes throughout with kitchen, dining, lounge, 2 balconies, laundry and toilet on the first floor flowing upstairs to the 4 bedrooms, 2 bathrooms and office. The master bedroom has plantation blinds leading out to its own balcony, as well as an en suite featuring a spa bath and double vanities, then on to your walk in wardrobe.

With a separate office onsite, flexible working hours and work schedule 2 people could manage this complex and still be able to take advantage of the lifestyle of Far North Queensland, or cater to a growing families needs ... its definitely time for that sea change!

More Information

Financial Overview

Total Purchase Price: $1,195,000
Net Income: $ 141,000 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 520,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 4.8
_{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.}

Letting Business

Letting Pool: 40
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 20
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 20
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 80
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 89,000
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 25 years
_{How long is the caretaking contract.}

Agreement Remaining: 21 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 12 years
_{How long has the management rights existed.}

Office Hours: No set office hours
_{Required Office Hours}

Complex Features: 3 buildings centered around a 25m Lap Pool, kids pool, a cabana bbq area and well equipped Gym. Spread over almost 7,000m2 there are well maintained tropical gardens interlaced throughout the gated permanent residential complex.

Real Estate Component

Manager's Unit: 4 2

Included Real Estate: $ 520,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 2

Office On Title: 1
_{Is there a manager's office included on the title?}

Pets: Yes
_{Can the manager own a pet on site?}

Unit Features: One of only 2 penthouses in the complex, this large managers unit is ocean facing and boasts 4 bedrooms and a home office. Located on the top floor the unit catches the sea breezes and has plenty of room for everyone with the living, dining, kitchen, laundry and Toilet on the first floor. Upstairs are all the bedrooms / bathrooms and a home office / study. The Master boasts its own balcony with glimpses of ocean, double vanity en-suite with spa bath as well as a walk in wardrobe. With a bus stop at the front door to local schools and James Cook University just up the road, this unit is perfect for a growing family There is also a separate managers office onsite.