Short Term Gem - ID 7838

$4,600,000

Resort / Holiday management rights, Surfers Paradise QLD

Holiday Management Rights For Sale
On The Beach

- 64% of units in the holiday letting pool
- High net, 4 star complex
- Well run business with all systems in place
- Body Corporate salary of approximately $100,000
- Over 19 years remaining on agreement
- Excellent and supportive Body Corporate committee
- 3 bedroom, 2 bathroom manager's residence
- Reception on title
- Office opens 5.5 days per week, closed Sundays

Long standing managers wish to move on to their next business venture. This management rights business offers a prime location, high return clientele along with easy to maintain resort style facilities. Excellent option for either experienced operator or those wishing to enter into the management rights industry for the first time.

Net Profit: $520,000
Asking Price: $4,600,000
(Inclusive of Manager's Real Estate)

More Information

Financial Overview

Total Purchase Price: $4,600,000
Net Income: $ 520,000 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,600,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 5.8
_{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: 20
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 4
_{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: 0
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 33
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 105,540
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 20 years
_{How long is the caretaking contract.}

Agreement Remaining: 20 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 43 years
_{How long has the management rights existed.}

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

Complex Features: Pool, BBQ, Outdoor dining and lounge area, Tour desk, Secure basement parking, Babysitting and drycleaning arrangements in place.

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 1,600,000
_{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: Ground floor apartment with 3 bedrooms and 2.5 bathrooms, Large balcony providing absolute beach and ocean views, Office and reception detached and on title, Current valuation in place.