This is a freehold landholding of approximately 85 acres (34.4 ha) with over 750 metres of direct ocean frontage, an established accommodation operation, and development consent for ten additional cottages.
It is offered on the basis of the land, the approvals and the operation together, not on trading performance alone.
This unique property sits on Mitchells Island, on the Mid North Coast of New South Wales, roughly midway between Sydney and Brisbane. The holding is approximately 85 acres (34.4 ha) of freehold title with over 750 metres of direct ocean dune frontage.
Three self-contained guest cottages, two one-bedroom and one two-bedroom, are letting now with an established booking history. A 242m² (2,605 sq ft) residence of five bedrooms, with wraparound balcony, sits set back among established trees and is not currently in the letting pool.
Development consent is in place for ten additional single-level cottages, a mix of two and three bedroom. Slabs are down on part of the site, so the consent is physically activated.
The property has been owned and operated from Sydney on a passive lifestyle basis.
It is under-managed rather than underperforming, and the accommodation operation has never been actively marketed, rate-managed or professionally distributed.
Who this suits
An owner-operator seeking a coastal change with an approved expansion path, or a buyer acquiring the land and approvals with the operation as an established starting point. It does not suit a buyer valuing purely on current earnings.
Freehold title, approximately 85 acres (34.4 ha)
Over 750 metres direct ocean dune frontage
Approximately 242m² residence, five bedrooms, outside the letting pool
Three trading self-contained cottages, established booking history, sleeping up to 14 in total
Development consent for ten further cottages, works commenced
Tourist and visitor accommodation use, Manning Valley LGA
Gross turnover from the cottage operation is in the order of $75,000–$100,000. Gross estimate only, derived from vendor-supplied information.
Not a representation of profit or of future performance. The property is not offered on an earnings-multiple basis.
Whole-of-site occasions, private celebrations, functions, catering and group or sporting camps are subject to council approval. None is currently in place and no figures are represented.
Foreign purchasers should note that acquisition of Australian land generally requires Foreign Investment Review Board approval and should obtain their own advice before submitting an expression of interest.
Information Memorandum available to qualified parties on request. The cottages have guests staying, so inspections are by private appointment rather than open viewing.
