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Address:
Paradise in Port Douglas
Port Douglas,
Qld
4877
Bed(s): 2
Bath(s): 1
Price: $ 970,000.00
Property Description:
One of the first complexes built in Port Douglas after the completion of Christopher Skase's Sheraton Mirage. The accommodation consists of 1 & 2 Bedroom Fully Self Contained Apartments which have all in the last 3 years undergone modernisation. Located within walking distance to the Port Douglas village centre and the beautiful Four Mile Beach, this complex is uniquely situated within the local market as one of the few 3 ½ star complexes in a region dominated by 4 - 4 ½ stars.
By offering exceptional value for money, it has proven to be a popular holiday complex with singles, couples, groups and families and is currently positioned at Number 1 in Tripadvisor's Popularity index, in the category suited to Self Contained Apartments.
Current Summary September 2008
Body Corporate Salary: $41 306.88 (inc GST, increased yearly in line with CPI)
Module: Accommodation Agreement to run: 23 years
Age of Building: 22 years Type of Building: Ground level + 1 story walk up
Holiday Pool: 15
Permanents: 4
Outside Agents: 3
Owner Occupier: 1 (plus manager)
Manager Apartment: 2 Bedroom, with private courtyard
Office: On Title
Storage: On Title
Trust Accounting Software utilised: Hirum, version 3.14
Why this Business?
This well presented Holiday Complex has undergone a transformation in the past few years to bring the complex to the forefront of its class in Port Douglas. Rated a solid 3.5 stars by AAA, it is ideally positioned to take advantage of the growing number of people looking for comfortable accommodation with exceptional value for money.
After listening the evolving requirements of holiday guests, and with owner support, the apartments have been modernised to meet and exceed expectations. The pressure to complete further works is not immediate or in any way urgent, though opportunity exists to improve appearances and increase facilities to enable this complex to stand in even greater stead in comparison to other accommodation.
Systems have been installed to ensure the complex runs smoothly, with articulation systems and pool maintenance also being finely tuned to allow the Business to stand out from the crowd. This complex will continue to grow in reputation, regionally, nationally and internationally, with marketing which starting to show results.
The newly improved website has already improved the number of direct bookings and has commenced bringing the businessto the notice of previously out of reach international markets.
The Manager's nett return represents an attractive package, given that the complex suits a 1-2 person operation with limited or no staff as a viable operating option, while also having room for further improvement and enhancement.
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