35/28 Island Drive, Cannonvale
$350,000
overview
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1P2869
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Other
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Under Contract
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80 sqm
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1
Description
FREEHOLD MANAGERS UNIT PLUS CARETAKER AGREEMENT FOR 52 RESIDENTIAL HOMES COMPLEX FOR AN EXTREMELY AFFORDABLE PRICE
*Rarely available in fabulous Airlie Beach
*Thriving accommodation market
*Contract income is currently $81,756 per annum (Ex GST) plus expenses
This is a very rare opportunity to acquire a very well-established and profitable business in Airlie Beach without any further major capital outlay. Our vendor has operated this Caretaking business for 20 years and has enjoyed the support of the Body Corporate over that time but it's now time to retire. The current Caretaking agreement is for a 10-year agreement expiring 30 September 2029 so in excess of 5 years remaining. Current income of $81,756 (ex GST) per annum increases by CPI or 3% per annum annually whichever is the greater so there is considerable income to be earned over the next 5 years plus. In addition to the caretaking salary, there is a regular usually monthly expense reimbursement of up to $3,720 per annum for motor vehicle and similar expenses. A successful purchaser of this business may well be able to negotiate a new agreement with the Body Corporate beyond 2029 prior to the expiration of the existing agreement.
The Managers very comfortable two-bedroom freehold unit is included in the purchase which is a requirement under the Caretaker Agreement. And this property /business package is offered for sale by negotiation in excess of $350,000.
*Thriving accommodation market
*Contract income is currently $81,756 per annum (Ex GST) plus expenses
This is a very rare opportunity to acquire a very well-established and profitable business in Airlie Beach without any further major capital outlay. Our vendor has operated this Caretaking business for 20 years and has enjoyed the support of the Body Corporate over that time but it's now time to retire. The current Caretaking agreement is for a 10-year agreement expiring 30 September 2029 so in excess of 5 years remaining. Current income of $81,756 (ex GST) per annum increases by CPI or 3% per annum annually whichever is the greater so there is considerable income to be earned over the next 5 years plus. In addition to the caretaking salary, there is a regular usually monthly expense reimbursement of up to $3,720 per annum for motor vehicle and similar expenses. A successful purchaser of this business may well be able to negotiate a new agreement with the Body Corporate beyond 2029 prior to the expiration of the existing agreement.
The Managers very comfortable two-bedroom freehold unit is included in the purchase which is a requirement under the Caretaker Agreement. And this property /business package is offered for sale by negotiation in excess of $350,000.
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