MIAMI

For Sale

$2,475,500

Outrigger: Where Hospitality Meets Profitable Waves, Surging with Over $377k in Net Profit!

Nestled in the heart of the highly coveted North Burleigh suburb, the Outrigger stands as a beacon of hospitality, just moments away from the pristine shores of Burleigh Beach. This thriving establishment boasts a loyal clientele that includes business travellers and vacationing families.

Strategically positioned, the property offers unparalleled convenience, with boutique shops, supermarkets, artisanal breweries, quaint cafes, and top-tier dining options all within a leisurely stroll. Surfers will delight in the proximity to Burleigh Point, renowned for its world-class waves. Additionally, the forthcoming light rail extension will enhance accessibility, with a station conveniently located at the doorstep, further enhancing the resort's allure.

Comprising 3 contemporary levels, the complex comprises 72 units, 38 dedicated to holiday letting. The remaining units are occupied by owners, outside agents, (with 16 outside to get back in the letting pool) and the manager's residence, which boasts recent renovations, including a brand-new kitchen and flooring. The manager's quarters offer a haven of tranquility, complete with spacious living areas, two bedrooms, two bathrooms, and a private verandah.

Beyond the accommodations, guests are treated to resort-style amenities, including a heated pool, spa, and alfresco dining area nestled amidst lush, low-maintenance gardens. The renovated reception area, equipped with an attached office, provides a welcoming first impression, with undercover access for arriving guests.

With the manager required onsite during office hours, there's ample opportunity for seamless operations, with the potential to further maximize revenue streams by renting out the manager's unit. Riding the wave of a booming domestic travel market, the business has witnessed robust performance, boasting a commendable net profit exceeding $377k in the past year.

The Outrigger presents an enticing proposition for savvy investors seeking a turnkey opportunity. With the option for offsite residency, flexible agreements, and the potential to convert units currently leased through outside agents, this is an ideal venture for solo operators or seasoned industry professionals looking to bolster their portfolio with a lucrative, hassle-free endeavor.

Also very important to add that MIAMI RICE restaurant is in the same building so just stroll next door and get a delicious meal :-)

BUSINESS SNAPSHOT

Financials

Body Corporate Salary: $121,889

Management Unit

Management Unit Price: $775,000

Complex Overview

Complex Type / Module: Resort

Total Units Inside Letting Pool: 38

Total Units in Complex: 72

Holiday Units: 38

Outside Agent: 13

Owner Occupied: 21

Agreement Term: 25 Years

Years to Run: 20

CONTACT

Paul Mueller

Kerrie Lush

[email protected]

CONFIDENTIALITY AGREEMENT GOVERNING ALL BUSINESSES LISTED WITH RAAS MANAGEMENT RIGHTS

In consideration of RAAS (being any or all of RAAS Property Group Pty Ltd and their respective business brokers) entering into discussions relating to the possible acquisition of the assets of any business(es) presented to me by RAAS, We/I hereby agree and undertake as follows:

To treat as totally confidential the identity of the business(es) disclosed to me and any details as to its operation or financial accounts;
Not to disclose the identity or any details of the operation or financial accounts to any third party (except my accountant or legal advisor who shall agree to respect this requirement for confidentiality) unless expressly authorised in writing by the Vendor or by RAAS;
Not to make an approach to the Vendor of any business disclosed to me by RAAS, or the business’ staff, customers or suppliers without prior arrangement with RAAS and to refer all queries through RAAS;
We acknowledge that RAAS is the introducing broker, and that all offers and deposits for the business, shares or property will be conducted through that office.
If, I as a potential buyer breach clause 4 of this agreement and buy directly or indirectly this business from the Vendor of the business quoted then I the buyer will be responsible for any loss of commission due to RAAS Property Group as the case may be;
If, I as a potential buyer breach clause 1, 2 or 3 of this agreement I undertake to indemnify RAAS against any actions, proceedings, costs, claims, demands or liabilities which you may suffer in consequence of that breach.
That all information is received for no other purpose than the evaluation of the investment potential of the business;
If I decide not to proceed with the investment, I agree to immediately return to RAAS all written information supplied by it and retain no copies and to delete any electronic records including all emails and attachments relating to the business(es);
the relevant Act for the State or Territory including but not limited to (Electronic Transactions Act 2000 No 8 (NSW), Electronic Transactions (Victoria) Act 2000, Electronic Transactions (Qld) Act 2001, Electronic Transactions Act 2011 (WA), Electronic Communications Act 2000 (SA), Electronic Transactions (Northern Territory) Act 2000, Electronic Transactions Act 2000 (Tas), Electronic Transactions Act 2001 (ACT)

By checking this box, you are agreeing to abide by the terms of our Confidentiality Agreement.

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