Resort Holiday Complex - Gemini
Residence (2Bed 2Bath 2Car) $590,000
Total Investment $3,290,000
- Renovated Managers unit featured in photos, including large courtyard with Ocean Views
- Spacious, contemporary managers residence (2 bedrooms, 2 bathrooms, large patio and ocean views)
- Great beachfront position with fantastic return guest loyalty
- Million dollar pool upgrade, fibre optic internet and multimedia system throughout
- Complex consists of 91 apartments in adjoining towers boasting panoramic ocean and island views
- Facilities include huge Heated Pool, Spa, Sauna, Games Room, Tennis Court, BBQs, WiFi, Multimedia Entertainment System, Secure Parking
- Functional office and Reception plus additional storage spaces.
- SUBSTANTIAL NET PROFIT - $468,727 - plenty of upside!
- B/C remuneration $158,924 inc GST
(Not included in Net Profit - Commissions from Apartment Sales)
- Astute buyers and consortiums seeking a well maintained quality business with great facilities, substantial net income and plenty of upside, are encouraged to make contact today!
- Total Purchase Price: $3,290,000
- Net Income: $ 468,727 (actual)
This is the combined total income acheived by the business after expenses, before tax.
- Included Real Estate: $ 590,000
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 Pool: 47
Number of units the manager is authorised to manage.Owner Occupiers: 25
Number of units resided in by their owners.Lock Ups: 18
Number of units owners are not renting out, but also do not live in.Outside Agents: 1
Number of units being rented by other agents (these could potentially be acquired by the manager).Units In Complex: 91
The total number of units within the complex.
Remuneration: $ 158,924
This is the body corporate caretaker salary. It is included in the Net Income above.Agreement Term: 25 years
How long is the caretaking contract.Agreement Remaining: 19 years
How long remains on the caretaking contract before it must be renewed?Agreement Age: 36 years
How long has the management rights existed.Office Hours: 9am - 5pm Mon - Fri and 9am - 12noon other days
Required Office HoursComplex Features: Large heated pool, water slide, spa, sauna, BBQs, tennis court, Wi-Fi, multimedia entertainment system, secure undercover parking
Manager's Unit: 2 2Included Real Estate: $ 590,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price.Manager's Car Spaces: 2Office 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: A modern, spacious and contemporary North-facing managers residence that any working couple or family can truly call their home. Recently renovated with a large, modern and spacious kitchen and family area, this 2 bedroom apartment offers the space rarely found in an onsite managers residence. Generous bedrooms, high ceilings, two bathrooms including ensuite, a full-sized contemporary kitchen, large outdoor court yard and plenty of storage are all features rarely found together in a management rights complex. A large exclusive use reception area and back offices provide plenty of administrative space as well as a quality reception and tour desk for guests. Plenty of exclusive use and body corporate sanctioned storage spaces, two car parks one on title, one exclusive use and access to the resorts swimming pools, spa, tennis court, BBQs and hire equipment all make resort living an exciting proposition.
Chris Hinkly for more details
0411 023 672