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Ill Health Forces Sale
$2,100,000
Resort / Holiday management rights, Teneriffe QLD
This absolute riverfront business, offering a mixed range of lettings, including permanent, holiday and corporate, is on the market for the first time in many years.
In the last 12 months the Seller has obtained brand new agreements, built a brand new website with an automated booking system, experienced some sensational short-stay occupancies and tariffs - This Business Is Humming! Unfortunately, the Seller is unwell and now needs to sell.
The figures have been verified by Tony Rossiter at Holmans Accountants and confirm the net profit at $255,000. There are 22 short-stays and 6 permanent let apartments, which allows flexibility to meet the short-stay market demands. The complex has a good mix of unit types.
The managers office is a separate on-title area and provides a very useful reception and office area, prominently located within the complex.
Upside to the business is nothing short of huge! Here's just some of the opportunities:-
>. There have been no increases in the short-stay fees & charges for 5 years
>. There are a large number (20+) of outside rentals - all permanent lets - waiting on someone with focus to bring them on-board
>. Occupancies are hovering around the 70% mark, whilst the rest of the near city are achieving upwards of 90%!
Call Greg Jorgensen today to discuss. Confidentiality applies on this one please.
More Information
- Total Purchase Price: $2,100,000
- Net Income: $ 255,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 850,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 4.9
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?