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CAPTIVATING CAIRNS - TOP CHOICE SHORT-STAY MANAGEMENT RIGHTS WITH NET $462K+ | Resort Brokers ID : MR008459
$2.1M + $595K Unit
Resort / Holiday Management Rights, CAIRNS CITY QLD
This is a superb opportunity for a short-stay operator to acquire a profitable, easy to run short-stay management rights complex located in a prime spot of Cairns with 48 units / 61 keys. Brand new 25 year agreements provide excellent security for incoming managers, and there are no set office hours. 201 Lake Street has strong historical performance and given the handy location, attracts both corporate and leisure guests looking for central, modern accommodation. Plenty of opportunity for a hands-on operator to grow the bottom line. Whilst there is a manager's two bedroom unit to acquire with the business, the new agreements don't require managers to live onsite.
- Brand new 25 year accommodation module Caretaking and Letting Agreements - July 2024
- Beautiful, modern low-rise holiday apartment complex in central Cairns city
- Easy to run complex with solid BC salary circa $150,000 per annum
- Verified net profit of $462,688 with potential for significant uplift to bottom line
- 48 stylish apartments, with hotel rooms, 1 and 2 bedroom layouts
- Letting pool has 25 holiday lets (36 keys), 3 permanent+ 5 units re-entering pool in October
- There are 6 external agents+ 8 AirBnB's in total
- Ground level manager's two bed, 2 bath, 1 car unit, plus reception / back office / storage on title - $595,000
- No set office hours in new agreements and no requirement to live onsite
- All inspections by appointment only
Date updated: 17 Nov 2024 22:00:04
More Information
- Total Purchase Price: $2.1M + $595K Unit
- Net Income: $ 462,688
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 595,000
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.
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?