PROPERTY DESCRIPTION

General description

Business 1 – Kings Beach – Purchase standalone $380,000

• 3 level walkup ground level is undercover parking
• 22 Apartments in the complex.
• 8 Units in the holiday Pool (NB: 2 Holiday Units added since June figures were prepared)
• Occupation Authority over Office plus 4 stairwell storage areas and a tool shed.
• No fixed office hours.

No apartment to be purchased, manager can live off site.

Contracts current until November 2044
• Management and Letting Agreements 25 years: expires 9 November 2024.
• Further 5 year options are available Nov 2024 to 2029, Nov 2029 – 2034, Nov 2034 – 2039, Nov 2039 to 2044
• Body Corporate Salary: $43,480.00 PA excluding GST
• Net Profit to 30 June 2022 is $88,933.17

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Single Operator generates Net Profit of $218,391.71 for looking after 3 business within 2 KM of each other. CALOUNDRA to KINGS BEACH.
No Real Estate to Purchase. Occupation Authority included for one Office.

Current Owners operates from long term rented 3 bedroom 2 bathroom accommodation located within 1 km of all businesses. This Rental Agreement can be transferred to purchaser if all 3 businesses are purchased. $400pw until July 2023. Toyota Work mate Ute can be included if required.

Live locally and enjoy everything Kings Beach and Caloundra has to offer. Great Beaches, restaurants, cafe’s, shopping centers, walking tracks and sporting facilities.

• Business 1 – Kings Beach – Purchase standalone $380,000
Agreements to 2044, Occupation Authority over office, no set office hours, 22 Units with 8 Holiday lettings, BC Salary $43,480, Net Profit to 30 June 2022 is $88,933.17 (NB: 2 Holiday Units added since June figures were prepared)

• Business 2 – Kings Beach – Purchase Standalone $369,000
Agreements to 2034, No office, no office hours, 24 units, 7 Holiday lettings, 1 Permanent Let, BC Salary $46,633, Net Profit to 30 June 2022 is $88,414.23

• Business 3 – Caloundra – Purchase Standalone $140,000
Agreements to 2030 for Caretaking and 2035 for Letting, No Office, no office hours, 27 units, no letting, BC Salary $41,114, Net Profit to 30 June 2022 is $41,044.31

Buy all 3 and SAVE 10% – I.e. Total Purchase Price $800,000 at a Multiplier of approx. 3.6 times or if you like a 27.5% return on investment.
BONUS – TOYOTA WORK MATE INCLUDED – WALK IN WALK OUT

Other options:
• Buy Business 1 and rentals from Business 2
• Buy Business 2 and 3 as Caretaking Only
• Buy any one business only

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For More detailed information please contact the listing agent.