Surfers Paradise Residential Unit & Management Rights - Net Income $72,041
- ID Ref MorgansSPM
- Suburb Surfers Paradise
- State QLD
- Status For Sale
Business DescriptionTucked away between the scenic shores of the glittering Pacific Ocean and the beautiful Nerang River, these boutique holiday apartments are the best kept secret in Surfers Paradise.
This boutique Gold Coast holiday accommodation is a 3 story walk up building located just a short stroll from both Budds Beach and Surfers Paradise Beach, and only minutes from the sophisticated wine bars, designer boutiques and award-winning restaurants of stylish Cavill Avenue. With an ideal location, superb facilities and a peaceful, laid back atmosphere, this Surfers Paradise apartment accommodation is ideal for couples on a romantic getaway, or anyone who wants to discover the fun and magic of the Gold Coast.
The Management Rights come with a long term Caretaking and Letting Agreement with dual income streams from both the managers salary (Currently $57,874pa) and also additional revenue from letting income from units in the general letting pool giving the onsite manager a combined income of approx $72,041pa.
This complex was constructed in 1995 and is in excellent condition with many of the rooms being recently renovated. The managers' residence is a very modern renovated 1 bedroom ground floor unit in an ideal position with a great outlook and very usable living space.
Detail of Units :
The total number of units in the building is 30, including the manager’s unit.
Unit Management are as follows
Owner Occupied Units = 2 (units 9&27)
Occupied by other permanent rental agents =15 (managed by outside agents)
Managers Residence = 1 Unit
Managed by Current Onsite Managers = 12 Units :
Units as holiday rentals = 7
Occupied by permanent rentals = 5
Details of the Caretaking and Letting Agreement
Term : 10 Years + 5 year option + 5 year option
Expiry : 13th Jan 2022 + 5 year option + 5 year Option
Body Corporate Salary : $57,874pa
Combined Salary and Letting Income for 12 months: $72,041
For a detailed information memorandum, please complete the confidentiality agreement using this link https://forms.gle/zvAhBomj6J5qmSEf6
Business Features / Snapshot
- Total Letting Pool: 1