Oceanfront Highrise

$3,890,000

Resort / Holiday management rights, Maroochydore QLD

Resort Management Sales are pleased to present the management rights business opportunity for Majorca Isle, a highly sought-after holiday haven located in the picturesque coastal town of Maroochydore. Majorca Isle features 53 high quality, light-filled apartments with open plan living areas and private balconies most boasting breathtaking views of the ocean and the opportunity to revel in gentle sea breezes.
Key highlights:
Superior location close to CBD and all amenities
Stunning ocean and river views
Long agreements
Solid existing short-term letting pool and high guest return rate
Generous body corporate salary
Room for growth in letting pool
Ideal building for a start-up or experienced management couple

More Information

Financial Overview

Total Purchase Price: $3,890,000
Net Income: $ 531,870 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 790,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 5.8
_{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: 35
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 10
_{Number of units resided in by their owners.}

Lock Ups: 5
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 1
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 53
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 143,903
_{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: 24 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:
_{Required Office Hours}

Complex Features: Guest facilities include:Resort-style swimming poolKids PlaygroundBarbecue areasFull-size tennis courtSecure undercover parkingGames Room

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 790,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 3

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: The renovated managers unit features 2 Bedrooms, 2 Bathrooms plus an exclusive use 3rd Bedroom, a large open plan living area and 2 well-designed bathrooms. The home is air-conditioned throughout and offers a large sunny courtyard for entertaining. The spacious exclusive use office is attached and the manager also enjoys the use of 3 undercover, secure car parks