Freehold Serviced Rental Accommodation for Seniors – Victoria Point, QLD

Description

99% OCCUPANCY RATE – NO LOCAL COMPETITION – SECURE PAYMENTS DIRECT FROM CENTRELINK

Established in 1998, Victoria Point Lodge presents a lucrative FREEHOLD opportunity with regular cashflow and a secure future. The business currently operates as rental accommodation for Over 50s with meals provided and an onsite manager. Purpose built as a seniors’ residence in 1997 – and just 5 minutes’ walk from the beach – there is no direct competition in the local area.

BUSINESS HIGHLIGHTS:

• Turnover: 2023/24 – $281,908; Expected revenue for 2024/25 – $303,900   

• Occupancy has been 99% and should continue to remain at the same levels 

• Rents increase in line with aged pension payments every 6 months  

• Very reliable income with secure payments direct from Centrelink  

• Freehold over 2 parcels of land (1538sqm) with 2 street frontages 

• 5 minutes’ walk from the beach – Shops across the road – Bus stop at front door 

• Excellent facilities, including 12 ensuited studios, lounge, dining room, kitchen and laundry 

• Updated Website in place (www.victoriapointlodge.com.au) generates all the enquiries the current owners can handle  

• Enquiries come from renters directly, family members, or as referrals from support workers, doctors, and agencies 

• Minimal input by owners – Permanent P/T Manager + 2 casuals  

• Handover period provided as required – Owners retiring 

This is an amazing opportunity with potential and options to suit any buyer. With the current Manager keen to stay on, you might continue the business in its current format. Alternatively, the buyer could be a hands-on owner living and working onsite to maximise profit margins.

PRICE: $2,300,000

* Well below replacement value – Land value (Dept. of Resources) $1,100,000