Palm Beach Management Rights - ID 8546

$1,629,000

Resort / Holiday management rights, Palm Beach QLD

Management Rights For Sale
Mix of Holiday & Permanent Letting

- Mid rise complex of 28 apartments
- 7 holiday and 8 permanents in the letting pool
- 25 year Accommodation Module agreement with 19 years remaining
- Easy to manage complex, currently run by one person
- Body Corporate salary over $71,000
- Resort style facilities
- New lift upgrade
- One block back from patrolled beach
- Office Exclusive Use no set office hours
- Spacious, 2 bedroom, 2 bathroom managers residence

Palm Beach on the Gold Coast has undergone a remarkable surge in popularity and growth, transforming from a quiet suburb into a vibrant coastal community. Its stunning coastline, renowned for its pristine beaches and excellent surf, has attracted visitors and residents alike. With an increase in residential development and a wealth of amenities, including great cafes and dining options, Palm Beach has become a desirable destination for both living and vacationing. Its strategic location between Surfers Paradise and Coolangatta further enhances its appeal, ensuring easy access to major attractions and transportation routes. A sought-after destination for those seeking the perfect blend of coastal living and urban convenience.

Net Profit: $225,040
Asking Price: $1,629,000
(Inclusive of Managers Real Estate)

More Information

Financial Overview

Total Purchase Price: $1,629,000
Net Income: $ 225,040 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 799,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 3.7
_{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: 15
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 7
_{Number of units resided in by their owners.}

Lock Ups: 4
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 2
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 28
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 71,676
_{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: 19 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 41 years
_{How long has the management rights existed.}

Office Hours: As per agreements
_{Required Office Hours}

Complex Features: Swimming pool, Spa, Sauna, Games Room, BBQ area, Under cover parking plus visitor parking, Tour Desk

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 799,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 1

Office On Title: 0
_{Is there a manager's office included on the title?}

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

Unit Features: Located on the ground floor, 2 bedrooms, 2 bathrooms, 1 car space, partially renovated with new stone benchtops, balcony faces in a north-easterly direction, very comfortable living space with air conditioning, ceiling fans, security screens. Exclusive use office reception