Income Producing, Mixed-Use, Investment/Development Opportunity.
1 Ryrie Street,MichelagoNSW2620
Other CommercialMotelOther CommercialCommercial LandSize: n/a
Block size: 6.63 Hectares approx.
FOR SALE BY AUCTION 14th December 2019 (2pm on-site)
Do yourself a favour & request a conservative (non-binding) development feasibility from the agents, before you do anything else!
An income producingMonaro Highway Michelago holding located35 Minutes to both Canberra & Cooma.
This large precinct style Mixed-Use property enjoys a flexible DA/zoning and comprises approx 6.68 Hectares of land Property Snapshot - The subject property includes:
A Service station - on busy Monaro Highway (with lease in place).A Six bedroom/Ensuited Motel.A Village Inn/PUB facility (seating a 130 guests)And comprising.
- Function Centre/Pub.
- Restaurant.A Caterers Kitchen.
- Formal Bar.
- Formal Lounge
16 x large residential blocks (ranging in size between 2,000 sqm to 3,900 sqm, much larger than Canberra residential blocks), and 2 x Commercial (Village) blocks facing the Monaro Highway Service Station:
Located right on the highway, the property is leased to the United Property Group. The site is located next to two blocks which face the highway. Operation of the service station to serve the residents of Michelago, regional communitiesand tourist traffic..
The Motel, which is visible from and within easy reach of the highway, has six ensuited rooms but is capable of extending through to 22 (by application to the local authority, etc). The Motel is functioning, and is being sold with all existing furniture & fittings. The Michelago Village Inn: This centrally located facility can seat up to 130 people in two rooms with great aspect. The kitchen area is large, and comes with all equipment included in the sale.The facility has a well-equipped bar area, which links through to the function centre, the restaurant and lounge with various serving bars (and is attached internally through to the centralised kitchen.The Function Centre enters from under a new portico and the entire Inn/Motel is Alpine designed and themed andall of which is furnished throughout. The facility also includes a Managers' Quarters with ensuite.
Land: 16 Residential and 2 Village (Commercial )Blocks. The individual blocks range in size between 2,000 sqm to 3,900 sqm, and offer an opportunity to acquire land which is 3 - 5 times the size of land recently sold blocks in Canberra.
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