This is a superb opportunity for a short-stay operator to acquire a profitable, easy to run short-stay management rights complex located in a prime spot of Cairns with 48 units / 61 keys. Brand new 25 year agreements provide excellent security for incoming managers, and there are no set office hours. 201 Lake Street has strong historical performance and given the handy location, attracts both corporate and leisure guests looking for central, modern accommodation. Plenty of opportunity for a hands-on operator to grow the bottom line. Whilst there is a manager's two bedroom unit to acquire with the business, the new agreements don't require managers to live onsite.
- Brand new 25 year accommodation module Caretaking and Letting Agreements - July 2024
- Beautiful, modern low-rise holiday apartment complex in central Cairns city
- Easy to run complex with solid BC salary circa $150,000 per annum
- Verified net profit of $462,688 with potential for significant uplift to bottom line
- 48 stylish apartments, with hotel rooms, 1 and 2 bedroom layouts
- Letting pool has 25 holiday lets (36 keys), 3 permanent + 5 units re-entering pool in October
- There are 6 external agents + 8 AirBnB's in total
- Ground level manager's two bed, 2 bath, 1 car unit, plus reception / back office / storage on title - $595,000
- No set office hours in new agreements and no requirement to live onsite
- All inspections by appointment only
