Highly Awarded Permanent

$985,000

Permanent management rights, Kewarra Beach QLD

Highly awarded permanent, in secure gated community at The Palms.
Top quality property with extensive resort style facilities on a large well positioned site in the sought after Northern Beaches surrounded by rainforest and the McAllister Ranges.
Tranquil Rainforest setting.
This Permanent let property has a total of 84 x 1, 2, & 3 Bedroom Apartments.
A high percentage of the rental units are furnished.
It is only 25 minutes to the Cairns CBD.
Great managers two bedroom/two bathroom apartment with quality fittings, plus a good sized office.
No set office hours.
Top $100k incl. salary with CPI increases.
This is an excellent opportunity for an active semi retired couple to downsize home and business, or a younger couple new to the industry.
The incoming manager has the option of purchasing the current managers apartment or renting an apartment within the complex.
Cairns currently has one of the lowest vacancy rates in the country at less than 1% and rental rates are on the rise.

Contact Calvin for further details and a property inspection.

More Information

Financial Overview

Total Purchase Price: $985,000
Net Income: $ 89,555 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 625,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 4.0
_{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: 8
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 68
_{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: 8
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 84
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 89,655
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 10 years
_{How long is the caretaking contract.}

Agreement Remaining: 10 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 17 years
_{How long has the management rights existed.}

Office Hours: No Set Hours
_{Required Office Hours}

Complex Features: Large resort pool, spa, gazebos, secure basement parking, barbecue areas, tropical gardens. Close to James Cook University, schools, shops and beaches. Each building has a lift to all levels.