Located in the heart of Hervey Bay, close to restaurants and across from the beach, is this complex waiting for a new manager. The current managers have been here for 8 years and are looking for a holiday.
There are plenty of reasons to invest in the Fraser Coast; in the year end March 2018, more then 700000 tourist flocked to the region, which is a new record. (Tourism Research Australia). Hervey Bay is the gateway to Fraser Island, and the best place from which to observe the annual Humpback whale migration season.
Hervey Bay is also the home of several large State based sporting events and this complex provides accommodation for a large corporate clientele too. This complex is the first choice for accommodation by many high profile visitors to the region.
There are currently 27 units in the rental pool, combined with a generous BC salary that increases by 3% each year or more if inflation is higher.
Net Profit: $356,000
Value of Managers Apartment: $475,000
Complex Type: Resort
Total Units in Complex: 36
Total Units in Letting Pool: 26
Holiday Units: 26
Agreement Term: 25 years
Agreement Term Remaining: 12 plus 5 yr top-up sept years