Mixed Letting in Currumbin - ID 8160

$1,855,000

Resort / Holiday management rights, Currumbin QLD

Management Rights For Sale
Famous Water Views

- 3 storey walk up complex of 72 apartments
- 24 apartments in the letting pool, 8 short term and 16 permanent
- Agreements recently topped up to 10 years
- Body Corporate salary of $130,000
- Heated pool, spa, BBQ and secure parking
- Complex has recently been painted, new Wi-Fi throughout
- Sinking fund balance of over $677,000
- Recently refurbished 3 bed, 2 bath manager's residence
- The residence has uniterrupted water views
- Office attached on title

The complex is located in Currumbin on the southern end of the Gold Coast, just a 15 minute walk to the patrolled beach. Easy access to the Airport, M1 Motorway, Currumbin Wildlife Sanctuary and the Tweed Coast.

Net Profit: $215,125
Asking Price: $1,855,000
(Inclusive of Manager's Real Estate)

More Information

Financial Overview

Total Purchase Price: $1,855,000
Net Income: $ 215,125 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 995,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 4.0
_{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: 24
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 43
_{Number of units resided in by their owners.}

Lock Ups: 3
_{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: 72
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 130,000
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 10 years
_{How long is the caretaking contract.}

Agreement Remaining: 10 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 37 years
_{How long has the management rights existed.}

Office Hours: As per agreements
_{Required Office Hours}

Complex Features: Heated pool, Spa, BBQ area, Secure parking

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 995,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 1

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: Great 3 bedroom residence, 2 bathrooms, Huge entertainer sized balcony overlooing the Currumbin estuary and the coastline. The unit has been renovated and features new kitchen, main bathroom, flooring and painting. There is parking for one vehicle and storage options for the manager. A pet is permitted with Body Corporate approval.