1-5 Hartley Road, NORTH TAMBORINE QLD 4272
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- 19 Aug 2016
Witches Falls Cottages
The freehold and the successful accommodation business Witches Falls Cottages are for sale as-is on walk-in/walk-out basis (excluding the homestead content). Contact us for a detailed Information Memorandum and to arrange an inspection.
The purpose-built improvements on this 5251 square metres (1.3 acres) naturally landscaped property consist of 5 stand-alone guest cottages, two side-by-side cottages and primary residence with an attached guest suite known as the Rainforest Suite.
The original cottages (5) were refurbished in 2013 and are configured to provide a charming elevated bedroom and a beautiful glass-roofed bathroom with a double spa. They also have a well-equipped small kitchenette and a private courtyard garden with covered BBQ facilities for outdoor cooking.
The vendors completed the two premium cottages in mid-2014. They offer a modern and spacious configuration that comprises of a bedroom area, a combined lounge and dining area off the fully equipped kitchenette and a beautiful glass-roofed bathroom with double spa. A private garden surrounds the outside covered deck and offers enjoyable outdoor dining.
The delightful manager's residence/administration building is located at the front of the property and includes a reception area and large office, a master bedroom with a spa ensuite and walk-in wardrobe, a commercial grade kitchen and a combined living and dining that opens up to a private courtyard garden with BBQ. The second bedroom, located on the second level, comes with an ensuite bathroom and ample storage.
The Rainforest Suite is attached to the primary residence but it is entirely private with its separate entry. It is configured to provide one bedroom, one bathroom accommodation with kitchenette and a private covered outdoor area featuring a double spa bath and BBQ.
The business is very well- established and has an excellent reputation with repeat customers and robust word of mouth/referrals. It features a high standard offering with 4.5 AAA tourism rating and is currently no one on trip advisor for speciality lodging in North Tamborine. The business holds a Certificate of Excellence for consistently earning great reviews from guests.
Witches Falls Cottages caters for the short-break drive market from Southeast QLD and Northern NSW. The primary market segment comprises of couples and honeymooners looking for a romantic getaway within driving distance from Brisbane and surrounds. It also caters for the many travellers visiting the popular tourist destinations surrounding the property (the facility does not currently provide for the family segment).
The average annual occupancy is very healthy in the range of 70% to 75%. In FY 2014/2015, the turnover reached approx. $647k with adjusted profit of $354k after expenses of approx. $61k to third party contractors.
North Tamborine is an established and recognised short/medium stay destination for weddings, weekend getaways and mid-week escapes to mother nature at her best. The area draws visitors with its natural beauty, its fresh mountain air and tranquillity, its sweeping coastal views, and delicious mix of old and new-world charm.
The property is an easy one hour drive south of Brisbane CBD and airport and 45 min from the Gold Coast. It is at a walking distance to the charming North Tamborine village and nearby eateries and wineries. It benefits from its proximity to the Witches Falls section of the Tamborine Mountain National Park, the first national park in QLD and the third oldest National Park in the world.
Witches Falls Cottages presents that rare combination of a relaxed and healthy mountain lifestyle with a stable easy-to-run business which generates handsome profits from a location that is ideal for those that want to enjoy a slower pace of life and yet be within one hour easy drive of two major coastal cities and airports. This listing is well priced for a quick sale and is showing a healthy return on investment of 12% so act now and take advantage of this great opportunity.
INSPECTIONS ARE STRICTLY BY APPOINTMENT.
1 Bligh street, SydneyGrade A
Building AmenitiesAvg. rent (net):$800 - $1000Avg. outgoings:$162Vacancy rate:13.5%Data from Colliers Edge.For information click hereMajor TenantsNabers energyAdditional information
1-5 Hartley Road NORTH TAMBORINE