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Palm Beach Absolute Beachfront Management Rights - $595k Net Profit
$4,850,000
Resort / Holiday management rights, Palm Beach QLD
Experience the ultimate beachfront lifestyle with this stunning 7-story mid-rise building located directly on Palm Beach. This management rights business offers a variety of accommodations, including one-bedroom studio-style units, and one, two, and three-bedroom self-contained apartments.
Guests can indulge in amenities such as a heated outdoor pool and spa, sauna, two BBQ areas, and a breathtaking rooftop viewing area perfect for enjoying beautiful sunrises and sunsets. The property also features secure underground parking and direct beachfront access.
The current vendor maintains office hours of 32 hours per week, and the profit and loss includes a $20k wage component for a part-time staff member. With strong support from a proactive Body Corporate, the business generates a robust net profit of $595k and has a healthy 20 years remaining on the agreement.
Additionally, the presence of 25 outside agents and 5 lockups offers massive growth potential for this business by way of securing these units back into the letting pool.
The exceptional package includes a spacious manager's residence featuring an air-conditioned three-bedroom apartment, a large back office on title, two bathrooms, a courtyard, and two car spaces, all with stunning beach views from the courtyard.
Seize this opportunity to acquire a high-net, beachfront holiday business on the magnificent Gold Coast. This management rights business truly offers the ultimate beachside lifestyle.
Call today to discuss this incredible opportunity!
Net: $595,607
More Information
- Total Purchase Price: $4,850,000
- Net Income: $ 595,607
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 1,350,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 5.9
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?