35/28 Island DriveCannonvale QLD 4802
Property Details for 35/28 Island Dr, Cannonvale
Last Listing description (August 2024)
*Rarely available in fabulous Airlie Beach
*Thriving accommodation market
*Contract income is currently $81,756 per annum (Ex GST) plus expenses
This is a very rare opportunity to acquire a very well-established and profitable business in Airlie Beach without any further major capital outlay. Our vendor has operated this Caretaking business for 20 years and has enjoyed the support of the Body Corporate over that time but it's now time to retire. The current Caretaking agreement is for a 10-year agreement expiring 30 September 2029 so in excess of 5 years remaining. Current income of $81,756 (ex GST) per annum increases by CPI or 3% per annum annually whichever is the greater so there is considerable income to be earned over the next 5 years plus. In addition to the caretaking salary, there is a regular usually monthly expense reimbursement of up to $3,720 per annum for motor vehicle and similar expenses. A successful purchaser of this business may well be able to negotiate a new agreement with the Body Corporate beyond 2029 prior to the expiration of the existing agreement.
The Managers very comfortable two-bedroom freehold unit is included in the purchase which is a requirement under the Caretaker Agreement. And this property /business package is offered for sale by negotiation in excess of $350,000.
Property History for 35/28 Island Dr, Cannonvale, QLD 4802
- 31 May 2024Sold for $300,000
- 15 May 2024Listed for Sale $350,000
- 05 Sep 2003Sold for $145,000
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0About Cannonvale 4802
The size of Cannonvale is approximately 7.2 square kilometres. It has 19 parks covering nearly 4.2% of total area. The population of Cannonvale in 2011 was 4,885 people. By 2016 the population was 5,716 showing a population growth of 17.0% in the area during that time. The predominant age group in Cannonvale is 30-39 years. Households in Cannonvale are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Cannonvale work in a trades occupation. In 2011, 45.7% of the homes in Cannonvale were owner-occupied compared with 48.1% in 2016.
Cannonvale has 4,470 properties. Over the last 5 years, Houses in Cannonvale have seen a 79.48% increase in median value, while Units have seen a 61.67% increase. As at 31 August 2024:
- The median value for Houses in Cannonvale is $732,696 while the median value for Units is $390,112.
- Houses have a median rent of $745 while Units have a median rent of $500.
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