EASY TO MANAGE HOLIDAY BUILDING IN SURFERS PARADISE - ID 9110

$1,200,000

Resort / Holiday management rights, Surfers Paradise QLD

Management Rights For Sale
No Requirement To Live Onsite or To Have A Licence

- As new building, only 5 years old
- Loads of potential with 33% of the lots not in the manager's letting pool
- Very low caretaking duties
- 2 bedroom manager's residence currently in the letting pool
- Residential roof top recreational area
- All apartments have large live-in balconies
- Great views across the Surfers Paradise skyline and Nerang River
- All apartments in the letting pool are leasebacks
- 5 minute walk to the beach

Here is a very easy management rights business to run, showing a great return. The building is only 5 years old and still presents as brand new. The high returns are generated from leasebacks with 1, 2 and 3 year agreements in place. There are established systems to enable most of the work to be done remotely. There is very little caretaking work required. Ideal business as a bolt-on to an existing management rights business of for someone seeking semi-retirement.

Net Profit: $178,117
Asking Price: $1,200,000
(Inclusive of Manager's Real Estate)

More Information

Financial Overview

Total Purchase Price: $1,200,000
Net Income: $ 178,117 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 800,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 2.2
_{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: 5
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 14
_{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: 5
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 24
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 17,700
_{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: 23 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 5 years
_{How long has the management rights existed.}

Office Hours: No set office hours
_{Required Office Hours}

Complex Features: BBQ, Security parking, Storage, CCTV

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 800,000
_{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: Yes
_{Can the manager own a pet on site?}

Unit Features: Two bedrooms, Two bathrooms, Air conditioning, Ceiling fans, Spacious open plan living, Large balcony, European appliances, Custom cabinetry, Stone benchtops