This is the investment opportunity! Palm Meadows Resort & golf course.
A set & forget investment with all management functions performed by the highly experienced Accor Group & Mercure Gold Coast Resort.
By owning this hotel room which includes bathroom, large built in robes and balcony overlooking the golf course you also share in the other income producing assets of the resort.
The income is pooled & divided amongst the owners and distributed quarterly.
Earnings for the year to December was appx $8,806 and the purchase price is $82,000!
Apart from a massive gross rental return the owner enjoys other privileges including a "Mercure Owners VIP Card" which entitles the card owner to 14 nights at a nominal rate & 50% of food and beverage.
The resort facilities include a swimming pool, gym, sauna, spa, 4 beautiful tennis courts, restaurants and bars.
An opportunity exists for lots to be consolidated into one for the purpose of reducing the rates and water charges currently approx. $285 per quarter for water & Council appx $1,218 per half year.
This room is part of the letting pool and can not be permanently rented or lived in. The hotel is responsible for the occupancy of the room and even if vacant the rental income derived from guests in other rooms is split and paid quarterly.
The occupancy levels are very high with conferences and weddings booked throughout the year.