LUXURY LIVING + MINIMAL DUTIES + HIGH RETURNS IN HIGHLY SOUGHT CURRUMBIN | Resort Brokers ID : MR008321

$2,200,000

Permanent Management Rights, Currumbin QLD

ResortBrokers brings to market a profitable, blue-chip management rights opportunity in the heart of highly sought-after Currumbin, offering luxury living, a solid Body Corporate income with potential for further growth.

Currumbin Ridge is a gated community comprising 81 luxury homes with 23 in the letting pool. Low maintenance outdoor areas and pool contractor paid for by the body corporate ensure the duties are extremely manageable, combined with no set office hours, affording a true lifestyle business.

The managers residence is a multi-level, architecturally designed four-bedroom, 2.5-bathroom home. The managers office is on title and attached and offers a large staff bathroom as well as a storage shed for equipment. There are six exclusive car parks at your disposal for visitors or guests.

- High-demand rental suburb ranging from $850 - $1,325 per week
- Upside to engage growth via the outside agent-managed properties
- Drive the repairs and maintenance income
- Body Corporate Salary $156k+ (excl.GST) CPI increases annually in July
- Luxury manager’s residence - ducted aircon, solar power, expansive deck
- Close proximity to Currumbin Beachand Currumbin Creek
- Easy managementwith high returns
- Inspections are by appointment only

Date updated: 01 Dec 2024 22:00:03

More Information

Financial Overview

Total Purchase Price: $2,200,000
Net Income: $ 232,162 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,100,000
_{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.}

Letting Business

Letting Pool: 23
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 56
_{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: 2
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 81
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 156,794
_{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: 22 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 0 years
_{How long has the management rights existed.}

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

Complex Features: The estate remains green with preserved native trees and original bushland offering a whole host of luxurious facilities including a leisure centre with a state of the art, fully automated, self-cleaning resort pool, pavilion, BBQ and picnic area along with childrenâs playground. The luxury homes wind around Currumbin Hill allowing privacy with a mix of beautiful ocean and hinterland views and being a gated community offers increased safety, privacy and security.

Real Estate Component

Manager's Unit: 4 3

Included Real Estate: $ 1,100,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 6

Office On Title: 1
_{Is there a manager's office included on the title?}

Pets: yes
_{Can the manager own a pet on site?}

Unit Features: 4 bed, 2.5 bath, 6 car managers home, two family living areas, expansive covered entertaining deck, built-in robes and well-appointed bathrooms, separate laundry