Cash producing, freehold bricks and mortar business on the beach.
If you’d love to combine that long-awaited sea-change with a very successful business AND the option of cashing in big time in the future, this is the one for you!
This fantastic freehold accommodation and car hire business is situated on magnificent Magnetic Island, a dream location where tourism is booming. Just 8km offshore, Magnetic Island is basically a suburb of Townsville, with their new approved billion dollar coal mines, massive new football stadium and major pipelines, all bringing jobs and cash to the area. There are twenty excellent daily ferry services, plus easy access to major services and the international airport.
This is Barrier Reef country, where snorkelling and scuba diving, fishing, boating and more are right on the doorstep, along with picturesque bays, coconut trees, pristine waters and national park. A nature lover’s paradise - with turtles, koalas and miniature rock wallabies practically in your front yard - this is an extraordinary place to raise a family.
Established for 11 years - and successfully run under management - this is a fail safe business, with two major sources of income - accommodation and car hire. Returning approximately 20%, further income is derived from the rental of snorkelling equipment, kayaks, canoes, fishing equipment and Internet sales (WiFi). Guest accommodation comprises air-conditioned units and rooms, with a mix of ensuites and good quality shared facilities. Buildings and vehicles are in excellent condition.
There are 25 vehicles, mostly topless 4WD Suzukis plus some air-conditioned family wagons, and a courtesy car - a Rolls Royce Silver Shadow! The Rolls Royce has recently been hired at $150 per hour for a movie shoot and wedding. A new wedding reception venue has been just constructed at the rear of the Guest House which opens doors for the future demand for luxury car hire and accommodation. A 4WD vehicle is needed to visit much of the Island, so these vehicles are in high demand. The business is promoted by its own website plus local travel agencies, ferry operators, and booking agencies, such as Booking.com and Expedia.
And here’s the big bonus - this excellent investment includes 2 freehold blocks of approx 1000sqm each, which could be sold in the future as a development site for 12 3-bedroom, 2-bathroom beachfront apartments, worth around $1 million each! Forget about shares that disappear, funds that go broke. The business is currently showing great returns and has been for around 11 years.
At a glance:
• Spacious air-conditioned manager’s unit with separate office
• Swimming pool, 2 guest kitchens, 2 laundries, dining areas + 2 wood-fired pizza ovens
• Excellent function areas plus potential to expand income further by providing coffee/meals/liquor/retreats/weddings/business seminars/pilates, yoga on the beach
With Magnetic Island well serviced by transport, shops, medical facilities and other services, this great business would suit a husband-and-wife team, a family, or a good partnership, and could continue to be run under management.
Price: $3.5 million