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Property Ref: 73241

Beachfront Upscale Management Rights Business with Freehold Apartment @ the Mount!

Property Type: Management Rights, Residential Real Estate

Sale Type: Management Rights and Freehold Investment

Region: Bay of Plenty

Physical Address: 4 Marine Parade, Tauranga 3116, New Zealand

Price: Management Rights + Freehold Apartment Asking NZ$2,790,000

Broker: Suresh Subramaniam

Mobile: +64 (0) 22 690 6475

Email: suresh@tourismproperties.com

Significant Property, Ocean Views, Beachside Lifestyle, 250k 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 | AUS$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 at 022 690 6475 or suresh@tourismproperties.com

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CCC

Chattels List

BC Rules

Valuation Doc

Stock on Hand doc

Rates

Pavilion Management Agreement

P&L 31 Mar 2024

Letting Agreement

Property Details

Property Type

Management Rights
Residential Real Estate

Sale Type

Management Rights and Freehold Investment

Region

Bay of Plenty

Physical Address

4 Marine Parade, Tauranga 3116, New Zealand

Price

Management Rights + Freehold Apartment Asking NZ$2,790,000

Contact Agents

Suresh Subramaniam

Tourism, Hospitality and Leisure Business Broker
Wellington & Lower North Island
International: +64 (0) 22 690 6475
NZ Mobile: 022 690 6475

Email: suresh@tourismproperties.com

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