Surfers Paradise
$2,290,000
2
1
1
Management Rights
- 73 Total Units
- Resort/Holiday Complex Type
- 26 Letting Pool
- $112,706 Remuneration
- $333,723 Net Profit
- $629,500 Manager's Unit
- BBQ, Sauna, Steam Room, WiFi, Pets Allowed, Pool Features
Property Description
NET PROFIT $330K - LIVE OFF SITE
This stunning Surfers Paradise, Gold Coast Management Rights is now on the market. Right in the heart of Surfers Paradise and positioned to enjoy the lifestyle this entails. This high-rise apartment building caters for both holiday and residential clientele, enjoying ocean, river or mountain views. Residents and guests can immerse themselves with the plethora of restaurants, cafés, bars, nightclubs, and shopping that the Gold Coast has to offer. Theme parks such as Dreamworld, White Water World, Sea World and golf courses are easily accessible. The Management Rights business is solid with current operators benefiting from 10 years of experience. Over that time the Body Corporate Salary itself has now grown to a healthy $112,000 p.a. (+ GST), increasing yearly by CPI. Over 24 years remain on management agreements as a good relationship with owners has recently allowed for a top up. The building itself has recently benefited from a refurbishment of many of its common area facilities whilst the Body Corporate is very supportive. Furthermore, there is an opportunity for the incoming operator to increase the rental pool and thus profitability by bringing onboard a significant number of on-site lets currently held by outside agents. The two-bedroom, ground floor manager's apartment has secure underground parking and is blessed with plenty of storage. Currently the manager's nominee is living on-site as there is flexibility there within the agreements. With the Olympics around the corner in 2032 don't miss this opportunity to get on board!
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