Significant Property, Ocean Views, Beachside Lifestyle, 300k Profits
Pavilion Apartments Mount Maunganui is an upscale Management Rights Business located at the popular and sought-after Mount Maunganui beachfront. Featuring 15, 1,2, and 3-bedroom self-contained apartments currently in the letting pool and a gorgeous FREEHOLD 2-bedroom, 2-bathroom ground-floor, beachfront owner’s apartment, this highly profitable business is unmatched within management rights businesses in the country.
The Mount Maunganui main beach is directly in front of the Pavilion Beachfront Apartments. It is one of New Zealand’s top holiday destinations, boasting glorious beaches, Mt Mauao walking tracks, hot water pools, surfing, fishing, kayaking, and sailing. Pavilion Apartments is located right next to a fantastic selection of shops, bars, cafes, and restaurants, and a stone’s throw away from the Mt Maunganui Surf Club and Hot Pools
The Managers Unit | A spacious and private FREEHOLD apartment with 2 bedrooms, 2 bathrooms, open plan living, dining & kitchen with direct access to a large patio on the ground floor with fabulous ocean views
Management Rights | A management rights operation produces lucrative income and a fantastic lifestyle. The management rights owners’ income is made up of holiday booking income, commissions, and building management fees.
Business Model | 15 one-bedroom, two-bedroom, and three-bedroom apartments in mixed letting pool with room for expansion. The complex consists of 20 Apartments in total. A significant level of repeat business allows for savings on booking commissions and longer-term stays.
Complex | Easy maintenance complex. Extensive refurbishments were completed recently to the exterior of the property including a full reclad, new roof, double glazing, new decks, balustrades, new lift, and full refurbishment of the lobby and foyer areas. This has brought the property up to the new building code making it a hassle-free and easy maintenance complex.
Fixed Income | An impressive $30,000+ Body Corporate Salary as fixed income
Term Remaining | 16 years – Expiring 2040
Price | $2,790,000 (Managers Apartment:$1,500,000, Management Rights; $1,290,000) The business and apartment must be purchased together.
Selling as the long-term managers intend to retire.
This lucrative business and lifestyle opportunity, at the amazing Mt. Maunganui Beachfront will not last long! So get in touch quickly!
For more information and to arrange your private viewing, please contact our specialist Management Rights Broker, Suresh Subramaniam.
