Lake life, $400k a year: Metung resort with marina moorings hits market
Want to live by the water in a pretty town with its own hot springs, own and run a thriving holiday-stay business and earn from guests checking in?
The Moorings at Metung – a lakeside resort centred around a private marina – is generating a “consistent net profit of $400,000 per annum”, according to agents, and sits in the heart of the Metung village on the edge of a calm, protected inlet of the Gippsland Lakes.
The turnkey property at 44-48 Metung Road spans nearly 6000 square metres and features a mix of apartments, motel-style rooms, suites and townhouses, alongside shared amenities including indoor and outdoor swimming pools, a tennis court, and a function centre with underground parking.
The offering – which overlooks Bancroft Bay and is flanked by King Lake on the other side – combines a thriving holiday-letting and property-management business and two freehold titles. It has been listed for sale through King & Heath First National Bairnsdale, with price on application.
“It’s a pretty cool place,” says listing agent Matt Baylis.
“It’s unique – you’re not going to find anything in that location that’s essentially waterfront … right in the heart of what we call Metung village, where the shops and the pub are,” he says, noting that many punters moor their boats out the front of the Metung Hotel.
The business sale includes agreements in place to manage bookings across the 31 apartments .
“It’s a very well-run business at the end of the day with three key components in the operational side of things,” Baylis says.
“You’ve got the holiday letting side of the business. You would be purchasing the freehold title to five motel units, which essentially is a small business in itself. And then you’ve also got what’s called a property management agreement, where the body corporate pays you to maintain the common property, and that in itself will earn you over six figures a year.”
One title includes a manager’s residence and office.
The agency says the operation benefits from established systems and on-site management, with “strong repeat clientele” and a “reputation for luxury accommodation”, and has attracted early interest from owner-operators.
“It’s the location. [It’s] unique and one of a kind,” Baylis says. “The views are impressive and the accommodation is well kept, neat and tidy … and so close to the Metung village.”
The popular tourist town of Metung has been described as East Gippsland’s answer to Portsea, bolstered by the revival of its geothermal springs.
Metung Hot Springs, developed by local tourism operators in partnership with Peninsula Hot Springs founder Charles Davidson, opened in late 2022 following the revival of historic hot pools.
“There used to be hot springs many, many years ago,” Baylis says. “It revitalised and got it back up and running. They’re building up and going very, very strong.”
While smaller than its Mornington Peninsula counterpart, the attraction is tapping into growing demand for premium wellness tourism, and helping reposition the region as an experience-led, year-round destination.
The broader East Gippsland region draws about 1.7 million visitors annually and generates more than $630 million in tourism spending.
With boating, fishing and outdoor activities central to its appeal, Metung retains a relaxed, low-key character, described by agents as “a peaceful, community-oriented environment” with waterfront dining at its doorstep and easy access to golf, hinterland drives and nature-based day trips.
“Metung’s a pretty special spot,” Baylis says. “When you first drive in, you’ve got the water and … you drive along the edge of the water to get into the actual township. There aren’t many places like it.”
Located about 300 kilometres east of Melbourne, Metung sits roughly 20 kilometres from the regional centre of Lakes Entrance.
Metung is home to about 1500 residents, with a median age above 60 and home ownership exceeding 80 per cent. A typical three-bedroom house costs about $620,000.
However, by comparison, Portsea – with a similarly older demographic and a population of about 500 – commands significantly higher prices, with three-bedroom homes averaging about $2.14 million and home ownership sitting at 94 per cent.
The vendors are selling after 18 years, having gradually assembled the waterfront holding by acquiring the business and adding freehold assets over time,” Baylis says.
“It’s the next chapter in their life.
“They actually spend a lot of the time of the year interstate, so they run semi-under management. They have a relief manager who comes in when they are away, so they have a system in place. It can be run remotely if someone wants to do that.”
Day-to-day operations include handling enquiries and bookings, managing laundry and maintaining common areas.
“And any other sort of little bits and pieces that pop up during the day – that’s the core,” Baylis says.
