UNDER CONTRACT

AKAMA RESORT – OVER LOOKING URANGAN MARINA – HERVEY BAY – QLD

NET PROFIT UP – SEE DETAILS BELOW

This favorite Hervey Bay Holiday Complex overlooks Fraser Island, the Great Sandy Straits and the Marina from where all Whale Watching vessels depart. The resort is positioned in a beautiful quite location on the esplanade in the Marina precinct. Nestled among lush tropical gardens exuding an atmosphere of peace and tranquility and just a stones throw from the Marina bars, club, shopping, beaches and restaurants where fine food will titillate even the most discerning palette.

All the self catering apartments are fully air conditioned with large furnished balconies, bi fold doors that open the width of the living area to bring the outside in, all have large fully equipped kitchens and private laundry. Lift to all levels, keyless entry and undercover secure parking. Heated lagoon style pool and spa, large undercover BBQ area.

This business is run by one couple. One office staff member has been employed for the entire time this couple has owned the business, allowing the couple to enjoy free time for golf and other activities. Talking to the staff member she is keen to stay and also regularly stays over to allow the Owners to travel and enjoy the lifestyle that this business allows. The business also has a number of regular contract cleaners working for them.

The Occupation Authority over storage rooms is an absolute bonus, providing the operators with linen cupboards and additional storage rooms on each level, this business is truly streamlined and easily run. Storage cage has also been added to the tandem car space with one park fully enclosed providing secure storage area for personal items.

The business currently runs at over 70% occupancy and that is before the international tourists return, which is an upside in this business. The business sale also comes with an online Tour Booking Website that generates additional commission sourced from bookings other than just resort guests. In the most up to date Profit and Loss figures to 31 March 2022 Tours have contributed $21,244 to the net profit. Projected figures to 30 June 2022 indicate nearly $30,000 in commissions. Very much a silent earner!

NEWS FLASH —– AS AT 31/12/2022 TOUR BOOKINGS CONTRIBUTED $51,563 TO NET PROFIT ——-

The resort is a favorite place for families and wedding groups and supported by a No Party Policy (Guest to be off the Balconies by 10pm) to the benefit for all guests. Forward bookings continue to be strong with communication from international travelers starting to increase.

Please contact the listing agent to obtain further information and to book your personal inspection.

MORE INFORMATION

FINANCIAL OVERVIEW
Total Purchase Price: $2,352,000
Net Income: $ 376,986 (actual TO 31.03.2022) NEWS FLASH —— AS AT 31.12.2022 THIS HAS INCREASED TO $424,138 —–
Included Real Estate: $ 660,000

LETTING BUSINESS
Letting Pool: 19
Owner Occupiers: 3
Lock Ups: 0
Outside Agents: 1
Units In Complex: 23

CARETAKING
Remuneration: $ 36,848 ex GST (26/10/2022 to 25/10/2023)
Agreement Term: 25 years
Agreement Remaining: 23 years
Agreement Age: 16 years
Office Hours: Monday to Friday 8.30 to 5.30, Saturday 8.30 to 3pm, Sunday 8.30 to 12noon

COMPLEX FEATURES
6 Levels, Large fully air conditioned self catering apartments, Large furnished balconies, Bi fold doors that open the width of the living area, Large fully equipped kitchens and private laundry, Lift to all levels, Keyless entry, Undercover secure parking, Heated lagoon style Pool, Heated Spa, Large undercover BBQ area, 9 security cameras throughout complex, 3.5 hour drive on the Bruce Highway from Brisbane, 2.5 hours from the Sunshine Coast, Complex is situated only 4.5kms from the Hervey Bay Airport, 2.5 km to Urangan Central Shopping Centre, 200m to Beach, Manager has storage on each level, Linen cupboards on each level, NBN WIFI to all rooms, Hire Cots and Beds, Tour Desk and Online Tour Booking provides regular income, Building painted February 2021

REAL ESTATE COMPONENT
Manager’s Unit: 2 bed 2 bath
Included Real Estate: $ 660,000
Manager’s Car Spaces: 2
Office On Title: 1
Pets: No

UNIT FEATURES
Fully Airconditioned 130 sqm Apartment, Master Bedroom includes ensuite, Main Bathroom includes Bath, Separate toilet, Office accessed from foyer and unit, Large 105sqm courtyard accessed via living room, second bedroom and office, 2 car spaces, one is enclosed by secure storage cage, NB: Photos of the unit shown in the listing are taken from level 5, directly above the ground floor managers unit, same designed unit as the Managers unit except the 3rd bedroom in Managers unit was converted to be the Office and reception for the Resort