Fantastic opportunity to have a standalone Holiday Rental business without the need to own the Apartment.
High return guests in spacious well maintained 2 bedroom apartments, the majority of which have good ocean views. Kings Row is located only one street from the patrolled Kings Beach on the Stunning Sunshine Coast and only a short walk to Caloundra’s main street with access to shops, cafe’s, restaurants and Bulcock Beach.
Business comes with Occupation Authority over storeroom, no office hours, the flexibility to run the holiday rentals from your own home with Key box to assist with check-ins in your absence. Excellent as an add on to your existing management rights or a perfect starter for someone living locally.
In addition to the 12 rentals in the complex there is also one holiday rental a couple of hundred meters down the road.
New Gallery Vie Compliant “Appointment as Agent” and “Management Agreement” dated 20 June 2022 each with 5 x 5 year options (Total 25 Years). Body Corporate Salary subject to annual review at the lesser of CPI or 5%. Business has its own website and uses PUMA trust accounting software.
Appointment as Agent agreement 2.2 (g) states “Ensure the Agent or its relevant employee is reasonably available at the scheme for such hours as are reasonably necessary to fulfil its obligations under this Agreement”
Stated Net Profit of $137,857 has been provided by the vendors based on their actually operating costs which include the cost of external cleaners to attend to the majority of room cleans. $130,000 will be used for income verification purposes at time of contracts, i.e. a Minimum income based on a 2 person management team, reality is if new operators attended to the cleaning themselves the net profit will be considerably higher which would suggest the $475,000 asking price is exceptional value.
Please contact the agent to obtain current Profit and Loss and copies of Agreements and to arrange your personal inspection.