Marine Reserved Management Rights, Whangamata, Coromandel

Property Name: Marine Reserved
Address: cnr Ocean Road & Lowe Street, Apartment 9, Whangamata
Property Type: Management Rights
Sale Type: Management Rights
Price: $995,000 including beautiful managers apartment
Region: Coromandel

$200,000 possible vendor finance for up to 2 years to approved purchasers or possible trade with house in Auckland or Tauranga areas

You’ll love this one—don’t miss the tide

Everyone knows that “Whanga” is one of the top holiday spots in the country and only 2 hours from Auckland. Over 1 million people on your “doorstep” as a potential customer base. White sand a short stroll from your front door and Whangamata beach is considered to be one of the safest and best surf beaches in the country. The township has been vastly improved in recent times with Council expenditure on beautification and as a result it is more vibrant all year round with cafes, restaurants and bars which are in easy walking distance. Not to mention the fishing, safe bar for boating and the new marina making this a more desirable destination. This town can do nothing but grow over time. Imagine your family and friends—they will all want to come to visit. Couple this magic environment with a growing but already very profitable business and there is little more you could want—the back is broken after 3-4 years of operation—we want you to take it to the next level. Seldom do you get such a high quality owners home in management rights so we invite you to inspect at your earliest convenience.

PROPERTY FEATURES

»  Superb 3 bedroom owners accommodation

»  All 17 apartments (mix of 2 and 3 bedroom) in the “pool”

»  approx 24 years remaining in the management agreement

»  Generous managers salary

»  Contracts are more favourable to the manager than most that we have on our books.

Potential buyers should review an Australian summary of management rights by clicking on the reference below which is a historic and dated document but sets out the salient issues around management right ownership and operation.  Much of the content is relevant to the New Zealand situation:

http://www.resortbrokers.co.nz/research-and-reports/58/

There has been recent legal precedents with regards the status of management rights in this country and we recommend that all potential buyers of management rights read the decisions by clicking on the links below:

http://www.resortbrokers.co.nz/research-and-reports/131/

http://www.resortbrokers.co.nz/research-and-reports/134/

Downloads

Confidentiality Agreement New Marine.pdf (144.87 KB)

Marina Reserved Lease.pdf (505.59 KB)

Marine Reserved Unit Plan.pdf (143.80 KB)

Marine Reserved Unit 9 Details.pdf (306.38 KB)

Marine Reserved Pooling Agreement.pdf (524.76 KB)

Marine Reserved Managers Certificate of Title.pdf (60.83 KB)

Marine Reserved Management Contract.pdf (756.33 KB)

Marine Reserved Body Corporate Rules.pdf (1.07 MB)

Marine Reserved Financials.pdf (49.84 KB)

broch-outside A copy.jpg (73.55 KB)

broch-inside copy.jpg (75.47 KB)

Marine Reserved Financials 09.pdf (164.58 KB)