A rare opportunity to secure both a spacious residence with stable remuneration, and lucrative opportunities to earn extra income within one of Urangan's most established and well-maintained gated permanent complexes.
Offering an exceptional combination of coastal lifestyle, space, privacy and business potential, this unique package is positioned just 800 metres from Urangan Beach and is adjacent to the tranquil Hervey Bay Botanic Gardens. This is a lifestyle opportunity rarely found in the management rights market.
Financial Overview:
- Total Purchase Price: $980,000
- Net Income: $102,136 (actual) Combined total income after expenses, before tax.
- Included Real Estate: $735,000 Value of on-title property included with the business.
- Multiplier: 2.4 Estimated years till net income reaches business purchase price.
Included Real Estate:
- Manager's Unit: 3 bedrooms 2 bathrooms 4 car accommodation + Storage
- Included Real Estate: $735,000 The value of on-title property included with the business. Its price is included in the Total Purchase Price.
- Manager's Car Spaces: 4
- Office On Title: Yes
- Pets: Yes
Caretaking:
- Body Corporate Salary: $74,376 Body corporate caretaker salary, included in Net Income.
- Agreement Term: 25 years
- Agreement Remaining: 22 years
- Office Hours: 5 hours per week (determined by the new owner as per Caretaking agreement)
Letting Business:
- Owner Occupiers: 32
- Letting Pool: 12
- Outside Let: 1
- Units In Complex: 45
Business Highlights:
- Business: $245,000 at low multiplier of 2.4.
- Secure Body Corporate salary (75K) with yearly minimum 3% increase or CPI (if higher), providing reliable cashflow, included in net income - Additional Letting Pool commission (30K) and extra Body Corporate maintenance income (15K) included in gross income
- ROI 10% with potential to significantly increase yearly income from townhouse sales and repairs & maintenance work for residents (In previous years, extra income from townhouse sales has ranged between 30-50K - not included in gross income) - Recently extended 22 year agreement until 2048, with regular top ups by a supportive committee - Attached office on title required to be open only 5 hours per week (Caretaker can set day/s of preference) - Established tropical gardens requiring minimal maintenance (8-12 hours per week in cooler months, 15-20 hours per week in summer months) - ALL garden and equipment expenses paid for by the Body Corporate
- Minimal facilities to maintain, only a swimming pool (no gym or lifts)
- Caretaking duties are straightforward and are clearly outlined in the Body Corporate agreement. - Perfect entry level business for single operator or semi-retired couple seeking solid income with low expenses, a relaxed lifestyle and potential for significant growth. - Very well run complex and an established, steady business. All procedures have been documented to make the transition for new managers seamless.
Property Details
- Managers Townhouse: $735,000
- Spacious standalone manager's residence within a secure gated complex
- Three generous bedrooms and two bathrooms
- Master suite complete with walk-in robe
- Airconditioning and ceiling fans for the summer months
- Soaring ceilings and impressive central double void
- Plantation shutters throughout downstairs living areas
- Abundant natural light, expansive open-plan living and dining zones
- Well-appointed kitchen with island bench and ample storage space
- 2 x private outdoor courtyard entertaining areas
- Double lock-up garage with internal access + 2 outdoor car spaces, bring the boat!
- Large storage room
- Pet friendly
- Just 800 metres from Urangan Beach and adjacent to Hervey Bay Botanic Gardens & Community Centre
Stillwater is a gated complex where residents enjoy beautifully maintained grounds in a convenient location. You are positioned walking distance to the marina, cafés, restaurants, shopping centres, schools, local markets and the Urangan pier.
Combining a quality residence, established management rights business and superb beachside location, this unique offering presents an exceptional opportunity for owner operators.
Priced at $980,000 - it's lifestyle and income in one of Hervey Bay's most desirable coastal settings.
Contact Kim Carter today for further information or to arrange your inspection.
