ABSOLUTE OCEANFRONT MLR IN BEAUTIFUL KING'S BEACH, SUNSHINE COAST - C. $700K NOP | Resort Brokers ID : MR008818

A rare opportunity to secure the Management Rights and associated real estate to Rolling Surf Resort, a true holiday complex boasting an absolutely beachfront position, just 1hr drive north of Brisbane. Located in the glorious suburb of King's Beach in Caloundra, and comprising a total of 74 apartments with 54 apartments the short-stay letting pool, this property is a beautifully presented and in a prime holiday location.

Offering long tenure on the Caretaking and Letting Agreements (currently 23 years), this strong-performing Management Rights has a recently verified net profit of c. $700,000 per annum, underpinned by a Body Corporate salary of c. $180,000 per annum. The business is currently managed by a long-standing onsite management couple with the assistance of front office staff, housekeeping supervisor and casual cleaner and maintenance contractors.

Rolling Surf offers excellent guest facilities including 60M swimming pool (30M heated), games room, gym, sauna and two BBQ areas. The manager’s lot includes a spacious and sunny 2-bedroom managers apartment, as well as reception, office, games room and gym. The additional freehold ownership adds to the long-term security of the business

Impressively managed, superbly positioned this is your chance for an astute operator to secure a premier short-term complex with a strong net profit. Although a strong and solid performer, there is significant upside potential through occupancy / ADR growth, as well as targeting lock-ups / externally let apartments.

• Total of 74 apartments with 54 in the onsite letting pool (all short-term)

• Amenities include 60m pool (30m heated), games room, gym, sauna, BBQ areas and carparks

• 23 years remaining on Caretaking and Letting Agreements

• Verifiednet profit of $694,149 per annum with BC salary of $179,332

• Reception is open betweenMon-Friday 8.30am-5pm, Sat 9am-4pm, Sun 9am-12pm

• Run under a two-person management plus FOH staff, housekeeper and maintenance contractors.

• Freehold manager’s lot at $1.05M - modern manager's 2 bed / 2 bath unit, office/reception, games room, gym, storage and carparks

• Prime location, long agreement, immaculately presented, high NOP, upside potential - will sell quickly.

• All inspections by appointment only

For more details, please email broker or call agents.