We are pleased to offer for sale the Management Rights Business and associated two-bedroom ensuite apartment of this outstanding complex located at Rainbow Bay.
This property is located in arguably the best position on the Southern end of the Gold Coast. With spacious, north facing, 2 bedroom ensuite fully self-contained apartments all with breath-taking ocean views and with world famous Snapper Rocks surf break at the doorstep. Close to excellent cafes and restaurants in Coolangatta and only 10 minutes to the airport it is in a perfect position.
The building consists of a total of 32 apartments, 21 of which are in the letting pool. All of these are managed on a short-term holiday basis with direct bookings only (no wholesalers), making Bayview Rainbow Bay a true holiday complex. There is potential upside for the next operator to grow the letting pool and bottom line.
Over the past 7 years, the building has undergone a number of upgrading projects including an external repaint, lift modernisation, replacement of the generator, upgrading of the car park ventilation system and basement storage cages. In addition, renovations of apartments have also been undertaken. The new managers will appreciate the benefits of the hard work already done.
This complex represents the perfect business for a two person team looking to operate a high-netting holiday property, without the requirement to worry about staffing. The current management team have run the business on their own for much of the tenure with the assistance of contracted cleaners.
A must to inspect!