Management Rights - Surfers Paradise, QLD

Surfers Paradise, QLD

$1,075,000

Property Description

URGENT SALE DUE TO HEALTH ISSUES! Ideal location situated between Surfers Paradise and Broadbeach. Just where everyone wants to holiday! Boasting a 23% ROI p.a.

This building is only 50 metres from beautiful Surfers Paradise Beach. It has a total of 20 units, 15 of which are in the holiday letting pool with the potential of 2 more apartments currently outside of the letting pool. All apartments have lift access. The building was built with investors in mind as the units do not suit owner occupiers. The apartments are designed more for short stay (2 to 14 days) accommodation with minimal storage space making it difficult for owner occupiers. This makes it easy to maintain a current and stable letting pool. This building continues to experience a high occupancy rate with a large percentage of return occupancy. Great potential for future growth. The building has recently had major upgrades with the lift and the building was painted a few years ago.
The grounds are easy to maintain. The Caretakers Agreement is casually written and very much in favour of the the manager with No Set Office Hours. The manager's unit has recently been renovated with new kitchen and appliances, floor tiles and carpets as well as being freshly painted. The apartment boasts 2 good sized bedrooms, 2 bathrooms and ocean views. The private outdoor living space is generous giving you the opportunity to enjoy the weather and surroundings while overlooking the beach and ocean views. The managers garden area even has its own herb garden and vegetable patch. Storage is no problem with 4 separate area’s dedicated for Managers use.
The agreement has 20 years to run.
Whether you are an experienced on-site manager or are new to the industry, this opportunity is for everyone.
Net Profit: $138,000
Managers Unit: $475,000
Management Rights $600,000
Total Price $1,075,000

Please contact Jonathan Shorter on 0405 537 600 or email jonathans@raas.com.au
Financial Overview

Body Corp Salary:
40495
Anniversary Of Body Corporate Salary:
Body Corporate Salary Review:
CPI
Net Profit:
$138,000
Manager's Unit Price:
$475,000
Management Rights Price:
$600,000
Letting Business

Est. Year Built: 1998
Total Units In Complex: 20


Inside Letting Pool

Permanent: 0
Holiday: 15
Corporate: 0
Total: 15

Outside Letting Pool

Lock Up: 1
Outside Agents: 1
Self Managed: 0
Owner Occpd: 2
Total: 2

Number & Type In Letting Pool
Number Type Features
12 1 Bed apartments
3 2 Bed apartments
1 Bed
Tariffs

Booking Type Details
Permanent
Corporate
Holiday Nightly rates are from $120 to $200
Manager's Unit & Office

Manager's Unit Size: 2 Bedrooms , 2 Bathroom
Office Reception: On Title
Office Software: Hirum
Office Hours: No set office hours
Storage: Plenty of storage
Office Computer:
Module:
Agreement Term: 25
Years To Run: 20
Manager's Unit Description: tiles living area, rangehood, dishwasher, glass hotplates, wall oven, laundry in cupboard. Fully renovated in excellent condition.

Facilities

Pool: Yes
Spa: Yes
Gym: No
Tennis Court: No
Sauna: No
Foxtel: Yes
Cable Installed: Yes
Pets Allowed: Yes
Barbeque Area: Yes
Wireless: Yes

Other Facilities:

Property Agent

Jonathan Shorter

Jonathan Shorter

Phone: 0405 537 600
Office: 1300 282 370

Email Listing Agent

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