MORE THAN A HOME - AND MORE THAN ONE WAY TO BUY IT

About this property

Set across approximately 16.47 hectares at Mena Creek, you have a substantial main residence, four separate cabin buildings, a large shed and around 943m² under roof across the property.

Add solar, generator backup, bore, water tanks, water licence, two permanent creeks, a natural swimming hole, established gardens and an existing accommodation operation.

Recent accommodation turnover has been approximately $120,000 gross per annum, with a stronger previous year around $150,000 gross.

There is a lot here and importantly, there is more than one way this property could work for its next owner.

UNDERSTANDING THE CURRENT SETUP

The current setup includes four guest cabins operating under Tourist Park approval MCU22/0047.

That current use has caused some lenders to assess the property differently to a normal rural residential property.

We have experienced that firsthand.

A previous buyer put the property under contract and progressed through valuation. The feedback I received at the time was that the contract price itself was not the problem.

The lending category was.

That is an important distinction, because the issue was not simply what somebody was prepared to pay for the property - it was how the existing use caused the property to be assessed for lending purposes.

BUT THERE IS ANOTHER OPTION

Council has outlined a pathway to change the current use.

The owners can abandon the Tourist Park approval and revert to a Large Homesite Dwelling arrangement.

Under that pathway, the property can retain up to three guest cabins as a subordinate home-based business, subject to the applicable planning requirements.

There are still physically four cabin buildings on the property.

The fourth building would simply stop being used for accommodation, have its kitchen removed and be converted through a private building certifier to Class 10a non-habitable use, such as storage or a shed.

So in simple terms:

Current setup:

House + four guest cabins under the Tourist Park approval.

Alternative setup:

Large Homesite Dwelling + up to three guest cabins + the fourth physical building retained for non-habitable use.

Council does not provide finance and has not guaranteed residential lending.

What it has provided is a pathway to remove the current Tourist Park arrangement that has contributed to the way some lenders assess the property.

The owners are prepared to work through that pathway for the right buyer.

SO WHAT DO YOU ACTUALLY WANT?

There are several possible ways forward.

Buy it as it is

Take the residence, four guest cabins, accommodation operation, land and infrastructure exactly as they sit today.

Simplify the setup

Move to the Large Homesite Dwelling arrangement with up to three guest cabins and the fourth building retained for non-habitable use.

Love the house but not the cabins?

Talk to us anyway. The owners are considering removing some of the cabins entirely.

Want the cabins instead?

If they are removed, the removable cabins may become available separately, together or individually.

The point is simple: you do not necessarily have to make your plans fit the property exactly as it stands today.

There may be a configuration here that works for you.

LOOK AT WHAT IS ACTUALLY HERE

• Approximately 16.47 hectares / 40.69 acres.
• Around 943m² under roof.
• Substantial main residence.
• Four separate cabin buildings.
• Furnished accommodation.
• Large approximately 20m x 8.5m shed.
• 35kVA silenced diesel generator.
• Solar.
• Water tanks.
• Water licence.
• Two permanent creeks.
• Natural swimming hole.
• Established gardens.
• Accommodation and rural infrastructure.

And an established history of accommodation income.

Then ask yourself what it would cost to recreate all of that today.

• Buy the land.
• Build the house.
• Build the cabins.
• Build the shed.
• Put in the water, power, septic and infrastructure.

Then wait for it all to be finished.

Replacement cost is not the same thing as market value.

But it does put the scale of what is already here into perspective.

THE NEXT CHAPTER

The owners are ready to move forward, and the property may not remain in this exact configuration indefinitely.

Maybe somebody buys the whole thing.

Maybe the alternative Council pathway is completed.

Maybe cabins are removed.

Maybe the property and cabins end up with different buyers.

That decision has not been made yet.

What we do know is exactly what is sitting here today:

A substantial rural property.

An established accommodation history.

Four physical cabin buildings.

Extensive existing infrastructure.

And a documented alternative pathway for somebody who wants a different configuration.

You know what is here.

You know how the current setup works.

And you know there are options.

Now it is simply a matter of finding the buyer whose plans fit one of them.

If that might be you, call me.