CORPORATE/HOLIDAY RESORT IN A SOUGHT AFTER PREMIUM LOCATION
$1.595.000,-
Resort / Holiday management rights, Cairns North QLD
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If this one does not end up on your shortlist, then you probably dont know what you are doing. With stable, qualified, constant corporate clientele year-round. With the current Manager confident in their repeat corporate business, the security and stability of this property have to be a key stand-out feature worthy of attention.
Rarely does a Council do such an incredible job of creating and maintaining such a place as the famous Cairns Esplanade. This venue has complete frontage to the Esplanades waterfront boardwalk, parks, restaurants and cafes a short, relaxed stroll away. This property is wrapped in lush tropical gardens which also surround a superbly appointed swimming pool and poolside barbeque facilities, and includes serene views over the Esplanade and Trinity Bay from several different vantage points around the resort.
On inspection, it presents very well as a modern and obviously well-maintained venue due to a co-operative body-corporate and fastidious management. There are security gates and CCTV in place as well as undercover, off-street car parking, which is now also home to a recently installed solar power initiative. There are 23 units in total, of which 20 units are in the pool, consisting of a mix of 1 and 2-bedroom easily serviced, self-contained apartments with recent bathroom upgrades.
The first three rules of Real Estate are covered here, LOCATION, LOCATION, LOCATION. This is a premium sought-after location for holiday-makers and corporate clients alike, and as such, for the savvy operator as well. There is potential to live off-site if that suits your purposes, the key questions are self-explanatory, and an inspection is well worth the effort before this Unicorn disappears. All the remaining questions will be between you and your bank manager.
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More Information
- Total Purchase Price: $1.595.000,-
- Net Income: $ 307,069
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 375,000
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?