Easy to manage business + freehold apartment

Significant price reduction to $1,999,000 (+GST if any) - (was $2,170,000)
Everything about Sovereign Pier on the Waterways, in Whitianga, is class.
48 apartments in an immaculately presented complex on the waterways. 18 in the letting pool with growth potential.
Adjusted net profit $350K per annum inclusive of a $61K body corporate remuneration. Three streams of income (body corporate salary, maintenance and groundwork, and accommodation rental income).
Long term management agreement with 24 years remaining with renewals exercised.
High quality three bedroom, two bathroom home on freehold unit title.
Perfectly located only 1.8km from the town centre on almost 2.3 hectares with a private marina and 19 berths.

Business summary
Adjusted Net Profit $350,000
Body Corp Salary $61,000 + GST
Body Corp Salary Review CPI adjusted annually

Managers Unit
Value of Managers Apartment$900,000
Bedrooms3
Bathrooms2
Garage Double
Car spaces2
Office1

Complex Information
Complex Type Luxury Resort
Total Villas 48
Letting Pool 18
Managers Unit $900,000
Features Private marina, boat ramp, pool, large spa pool, tennis court, gym

The ultimate home and business. Bring the boat and enjoy the lifestyle on offer.
For more information or to arrange a private viewing please contact Sonia Bruce 0274 333 111.

Agency reference #: 2221134