Beachside permanent let management rights in Palm Beach with $243K net profit!
ResortBrokers exclusively presents the management rights to ‘Pavilions’, a stylish, residential apartment complex located in the fast-growing suburb of Palm Beach.
Built to a high standard in 2009, Pavilions sports a modern design and comprises 104 smartly appointed apartments over seven levels. Part of the broader project, "Pavilions Palm Beach" which has recently undergone a $60m redevelopment investment, it sits above expansive ground floor retail including the newly opened Coles and alfresco dining & fresh food precinct. The residential component offers a mix of 1 and 2 bedroom residences that surrounds a 25m swimming pool & spa with low maintenance gardens.
- 104 apartments with 58 in the letting pool, 3 with outside agents and 42 owner residents
- Long-term tenure remaining on Agreements - 20 years from November 2019
- No requirement to live onsite
- Central Palm Beach location - walk to patrolled beach, SLSC, local shops, great bars & cafes in a few minutes
- Positioned over a new Coles, alfresco fresh food & dining precinct, health and wellness hub
- 3 bed, 2 bath Manager’s Unit + Manager's office with prominent street frontage all on title
- Extra income potential by a hands-on operator via apartment sales or handling maintenance work
- Staffed by a property manager & part-time assistant, plus cleaning contractors
- Popular complex with tenants seeking resort-style facilities, proximity to beach & entertainment
- 25m pool with spa, sun lounging area, BBQ & covered seating area, meeting room and secure car parking
- An established business in a great location with strong-growth potential, solid net profit and quality manager's residence - this one won't last!