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Serenity In Surfers
$1,320,000
Permanent management rights, Surfers Paradise QLD
Desirable mixed use management rights complex in quiet Surfers Paradise location.
Close to a wide range of dining, shopping and entertainment options with public transport close by and just a short walk to Surfers Paradise beach.
All units in the letting pool have 2 bedrooms and 2 bathrooms and comprise a mix of holiday and permanent with some having wonderful river views.
Accommodation module agreements and generous Body Corporate Salary of over $97,000 + GST per annum ensure stability of income.
Opportunity to increase the net income by converting permanent units back to holiday now that tourism is again on the upward trend as the Gold Coast continues to welcome an influx of both domestic and international tourists.
Very comfortable and spacious manager's unit featuring 2 bedrooms, 2 bathrooms, large balcony with peaceful tropical garden outlook, and 2-car underground security parking. Registered valuation to support the price available to genuine purchasers.
Great facilities on offer including heated outdoor pool, spa, sauna, full tennis court and barbecue area. The building has been very well maintained with the bonus of a newly renovated reception area to welcome your guests.
The sellers have operated this business for over 8 years and now wish to retire creating an opportunity for the purchaser to acquire a stable business with genuine growth potential in a sought-after location.
Property ID 963
More Information
- Total Purchase Price: $1,320,000
- Net Income: $ 156,944
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 610,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 4.5
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?