Management Rights For Sale

Business description

Nestled in the heart of the Sunshine Coast, at Mudjimba, will be a very special place, Pacific Paradise Resort.
A complex of exceptional quality in a beautiful location.
Pacific Paradise Resort is only 1.2 kilometres to the beach, and a short drive to the Sunshine Coast Airport and Hyatt Coolum Resort and Golf Course. Close by are major shopping centres, schools, hotel, club and sporting facilities.
Situated adjacent to the Twin Waters Golf Course, separated only by a wide body of water, the development has been meticulously planned to the last detail to take advantage of its outstanding and quite unique location.
No expense has been spared to ensure that facilities are appropriate to the environment and lifestyle of residents, which include Two full sized tennis courts, a large lagoon style swimming pool and wading pool, children’s playground, undercover B-B-Q facilities, Putting Green and an on-site Italian Restaurant.
The development is now complete and the Management Rights are up for sale to an astute operator to benefit from the establishment of this great resort by the developer.

DETAILS
Total Units: 120
Permanent Managed: 52
Holiday Managed: 6
Owner/Occupied: 38
Other Agents: 12
Vacant/For Sale: 12

FINANCIALS
Total Income: $295,981
Nett Profit: $260,000 (includes $40,000 wages)
Body Corporate Fee: $132,398 (increased to $145,632)
Management Fees: 1/1/09 – 31/12/09 - $127,290
Other Income: $36,293

SALE PRICE
Body Corporate Management: $ 1,210,000
Office (Separate Title) $ 400,000 (option to lease)
Managers Unit $ 400,000 - $520,000 (option to lease)
Due to the fact that there are predominately permanent rentals in this complex, with the potential to improve, your income is virtually guaranteed.