Exclusive
IMPRESSIVE HOLIDAY COMPLEX IN SURFERS - $520K NET; 24.5 YEARS + UPSIDE
The management rights to Peninsular Residences is offered at a time of surging tourism and extremely low residential vacancy rates. Over the last six years, the business has developed a solid base, providing an attractive add-on for experienced operators looking to secure a business-only management rights in the heart of the Gold Coast. Recently topped up agreements provide security for incoming manager's with over 24 years remaining on the tenure and a Body Corporate salary of circa $87,000 p.a.
- 38 units in the onsite letting pool being a mix of short-term and permament rentals plus 2 external rentals
- 60 luxurious apartments offering range of floorplans predominately 2 bed / 2 bath / 1 car
- Located in Surfers Paradise with 360 degree views across the river, hinterland and city skyline
- Incredible security for incoming operators with 24.5 years remaining on newly topped up agreements
- Verified annual net profit of $520,957 by industry specialist accountant McAdam Siemon
- Scope to increase revenue by running the business as short-term year round (noting some units are run short-term in high season and as furnished permanents in low season)
- There are no set office hours in agreements giving manager's work to life balance and flexibility
- Business only set up with freehold title office / reception on entry level - priced at $153,000
- Optional 2 bed, 2 bath, 1 car manager's unit (currently in the letting pool) available to purchase - $750,000
- Exclusive resident's rooftop terrace, indoor dining and kitchen, gym & yoga lawn, BBQ and seating areas
- Short walk to the Gold Coast’s top beaches & attractions: Cavill Ave, HOTA, Gold Coast Convention & Exhibition Centre
- All inspections will be conducted by appointment only
