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Northcliffe Terrace, Surfers Paradise

Permanent Management Rights – Offsite management – No Office Hours

This hidden gem located right in the heart of Surfers Paradise directly across the road from the rolling surf and soft white sandy beach offers the ideal lifestyle for those wanting to enjoy the beach and soaking up the regions finest shopping and dining experiences.

Consisting of just 32 apartments, of which 12 are in the letting pool, there is considerable scope to almost double the business value with seeking new letting appointments from 11 owners currently using external agents.

With no office hours and no requirement to live onsite, the Seller rents the fully renovated managers residence for $560/wk and hires an onsite caretaker to run both the caretaking and letting business as a one-person operation.

Summary Points:

  • AAA Location across from the beach
  • Total Asking Price: $818,000
  • No requirement to live onsite
  • Letting pool of 12 with opportunity to seek 11 more
  • Remuneration $52,000 ex GST
  • Standard Module
  • Agreements recently topped up

Here are some of the more pertinent details…

Multiplier: 4.1
Letting Pool: 12 permanent lets
Complex Total: 32
Outside Agents: 11
Agreement Term: 10 Years
Remaining Term: 9 Years

Broker:

Call Tracie Saks on 0412 200 422 to discuss and arrange an inspection of this excellent business opportunity!

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Property Information

Complex TypeApartments
LocationGold Coast
Net $80,000
Price $818,000
Remuneration $52,000
Letting Pool 12
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