Studio 148 on this resort advanced on Magnetic Island is on the market for simply $25,000.


How a lot would you be prepared to pay for a vacation unit for all times within the Nice Barrier Reef zone? This freehold studio unit on gorgeous Magnetic Island is simply $25,000.

Positioned at Nelly Bay on Magnetic Island, 20 minutes by ferry off Townsville, the 40sq m one bed room, one toilet studio is among the most cost-effective properties available on the market proper now.

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The studio comes absolutely furnished.


The reception desk on the resort.


Agent Leah James of Elders Actual Property stated the worth for 148/61-79 Mandalay Avenue, Nelly Bay, was the bottom on a vacation unit that she had proper now.

“You may’t reside in them completely however you may keep in them for 12 weeks consecutively as an proprietor occupier. The resort has a pool, two tennis courts and group parking on the entrance of reception.

The studio has a personal veranda.


There are two tennis courts on website.


She stated for owner-occupiers there was a compulsory two weeks required between 12-week stays, throughout which you possibly can let it out or depart it empty and are available again after a fortnight.

As a pure funding or half funding property, it may very well be listed through no matter methodology the proprietor most well-liked.

“There’s onsite letting or you possibly can use Airbnb or any actual property letting,” she stated. “This one 148 is renting out for $250 on a brief time period week to week let. As a result of they don’t have stoves they’re not long run lets.”

The scale of the physique company charges is a consideration for any purchaser because it covers facilities and bulk electrical energy prices.


The unit have been furnished, Ms James stated, and had a kitchenette with microwave, fridge, toaster and an electrical jug.

“When you wished you possibly can put an electrical frying pan in there,” she stated.

“It’s a wonderful vacationer vacation spot solely a brief 20 minutes from the Tropical North Queensland city of Townsville.”

She additionally has one other one bed room studio unit on the identical resort on the market for $35,000 at 171/61-79 Mandalay Avenue.

171/61-79 Mandalay Avenue, Nelly Bay, had its value lowered to $35,000.


A fridge is a part of the furnishings offered.


That unit was initially listed at $45,000 or nearest provide as much as August 2018, then returned to the market all by means of 2020 on the lowered value of $35,000.

The resort is an older construct, with CoreLogic data displaying the event at 61-79 Mandalay Avenue, Nelly Bay, was constructed within the early days of the tourism growth within the decrease Nice Barrier Reef zone, round 1975.

Electrical energy prices have been included in physique company charges. The associated fee was bulk assessed and shared throughout all house owners through these charges. There have been no additional energy prices to the proprietor, Ms James stated. Water was included as a part of council charges which house owners additionally needed to pay.

“We get quite a lot of enquiries for the physique company charges,” she stated given the dimensions of the resort and the facilities.

The property was construct within the mid Seventies.


Different elements that influenced whether or not potential consumers proceeded included the truth that the studios didn’t have stoves and inner laundries.

“The physique company charges and council charges are your value,” she stated.

“However it’s best for households who want to have prolonged stays on the island or an funding return the place they will use it themselves as properly.”

She stated guests and house owners may carry their automobiles off the ferry from Townsville although they may not park in entrance of their very own models however in a communal carpark.

The resort is widespread with households.


The resort is known as Amaroo on Mandalay at Nelly Bay, with 96 models in complete, with properly established floor, and a BBQ gazebo backing onto a nature reserve.

Ms James stated there have been three forms of models within the resort – commonplace, govt and household with those obtainable thought of commonplace.

Realestate.com.au reveals two different one bed room studio models have offered lately within the resort. Studio 40 fetched $33,000 whereas studio 6 offered for $33,045.

The itemizing is among the most cost-effective properties available on the market anyplace within the Better Townsville neighborhood, with newer one mattress vacation models at Nelly Bay fetching six digit sums at current together with 9/42 Yates St ‘Cover’ which offered for $185,000 in October.

The tourism sector was one of many hardest hit worldwide after the coronavirus pandemic noticed the lockdown of worldwide and state borders, with group restrictions additionally stopping journey inside the state over the early a part of the yr. With latest border restrictions lifting, some properties have seen a return in bookings, giving hope of a bounce again quickly.

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