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Live Beachfront! Total $1.38M Unit&Business
PRICE ADJUSTED! $415K MR&$965K Unit = Total $1.38M Absolute Beachfront!
Resort / Holiday Management Rights, PALM BEACH QLD
Wake up to the sound of waves and step directly onto golden sands - no roads, just pure oceanfront living. This rare, absolute beachfront Management Rights opportunity offers an enviable lifestyle and serious upside. Even better, its located in Palm Beach fast becoming the Gold Coasts destination of choice.
Currently operated to suit the owners lifestyle. Occupancy can be improved with ADR below market average with significant potential for growth. Bookings are mostly direct with over 20 years of repeat business and platforms like Expedia and Booking.com are under-utilised allowing new operators to grow volume.
The MR agreement requires operators to be onsite around 3 hours a day between (7am-5pm), with no fixed office hours. A Time in Motion review has been completed, with the caretaking salary now reflecting actual duties.
The complex includes 30 apartments, with 18 in the letting pool and room to grow. The body corporate recently took over mowing and garden duties, saving time and boosting profit. Cleaning is contracted by choice, allowing owners to focus on business operations. Contractors are reliable and recommended, though bringing cleaning in-house remains an option depending on lifestyle goals.
The managers residence is a beautifully renovated 2-bedroom beachfront apartment with sweeping ocean views. Agreements have 21 years remaining, and there's a healthy sinking fund of approx. $200,000.
All the heavy lifting has been done. This is a turnkey opportunity. Ideal for a hands-on operator or savvy couple ready to ramp up trade and enjoy a premium beachfront lifestyle.
More Information
- Total Purchase Price: PRICE ADJUSTED! $415K MR&$965K Unit = Total $1.38M Absolute Beachfront!
- Net Income: $ 147,581
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 965,000
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.
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?