A rare opportunity to secure a long standing Level 3 assisted living facility on the Gold Coast.

Located west of the Nerang Business District and nestled in a quiet suburban street adjoining a local park is the established (25 years) Country Paradise boarding house.

The two detached properties with caretakers apartment offers comfortable accommodation for 19 residents in 16 rooms. The accreditation renewal was recently completed in October 2021 for a further 3 years.

The experienced onsite caretaker and support staff make this a set and forget investment. The property generates a secure income stream of approximately $430,000 per annum (2021) with a net income in the order of $240,000 per annum. The currents residents are charged at 85% of their pension for their accommodation.

The owner has completed a number of maintenance items over the past 12-18 months which include:-

> New sewerage line
> Part New Roof - 43 Merloo Drive
> New Solar Hot water system 43 Merloo Dr
> New Gas Hot water system 43 Merloo Dr
> New rear awnings
> Deck maintenance
> Electrical upgrades

There could be an opportunity to increase number of residents (Subject to Council Approval) with further construction of dwellings at the rear of the properties.

The property is for sale by Expressions of Interest and a full due diligence package is available upon request.

Inspections are strictly by appointment and visitors must be fully vaccinated inline with QLD health guidelines.