MANAGEMENT RIGHTS&LOT 31 AT 'BAY VILLAGE ON HASTINGS' | Resort Brokers ID : MRB007155

Expressions Of Interest

Permanent Management Rights, Noosa Heads QLD

RECEIVERS&MANAGERS APPOINTED

ResortBrokers, under instructions from the Receivers and Managers, have been appointed as exclusive agents to market the management rights for 'Bay Village on Hastings' and Lot 31 of 'Bay Village on Hastings', located at 18 Hastings Street, Noosa Heads, QLD 4567.

Situated on Hastings Street
Comprises 33 commercial lots spread over two levels
Caretaker role with duties as set out in the Management Agreement
All security, cleaning, car park surveillance, amongst other duties, are contracted out and paid for by the Body Corporate
Includes Freehold to Lot 31 (38sqm* office space), split into two areas, Lot 31a& 31b
Additional income is derived from rental of storage areas, office (Lot 31a) and lightbox signage, and coin operated rides
Estimated Net Profit of $198,884* p.a.
Approximately 13.5 years* remain on Agreements
For further information contact the listing agents
For Sale by Expressions of Interest closing Friday 22nd April, 2022 at 5pm AEST
Inspections are by appointment only

*approximately

Date updated: 03 Jul 2022 23:00:08

More Information

Financial Overview

Total Purchase Price: Expressions Of Interest
Net Income: $ 198,884 (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.}

Letting Business

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

Owner Occupiers: 0
_{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: 0
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 33
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 175,000
_{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: 13 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 0 years
_{How long has the management rights existed.}

Office Hours: 2 hrs p/day Mon-Fri, 2 hrs per day saturday
_{Required Office Hours}

Complex Features: Parking Onsite

Real Estate Component

Manager's Unit: 0 0

Included Real Estate: $ 0
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 0

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

Pets: no
_{Can the manager own a pet on site?}

Unit Features: There is a small office at the rear of the centre that the caretaker utilises and these expenses are also Body Corporate. responsibilitiesA second office (Lot 31) is located on the first floor and occupies 38sqm. It is a real estate component and is separate to the aforementioned office. This office is leased by a tenant in the centre and returns approx $12,000.