5620 Buchan - Orbost Road Buchan VIC 3885
- Hotel, Motel, Pub & Leisure
- 6,600 m²
- For Sale, $475,000 (under offer)
Sherrington Apartments, Buchan.
Presenting this purpose built holiday accommodation complex, consisting of two x 2 bedroom apartments, one x 1 bedroom apartment, and one x motel unit. The three apartments are currently rented on a month to month basis to long term tenants, while the motel unit is not utilised at present.
The property is situated just 500 metres from the township and the entrance to the Buchan Caves Reserve. On 6600 sqm of land (1.5 acres), there is ample space for further development of the site. (STCA).
The buildings are of solid brick construction, and are in excellent condition throughout.
The return on investment is very good under the current rental arrangements, but could be improved dramatically if the complex was returned to its original use as overnight or short term tourist accommodation. If the property was purchased on a 90 day settlement, vacant possession could be arranged.
This property represents an enormous opportunity for the right operator, as there is a shortage of tourist accommodation in the Buchan area.
Please call Warren Meade on 0412 981 531 to arrange an inspection.