Sold
3/16 Stewart Street, Margaret River WA 6285
Sold price: $755,000
Sold: 14 Apr 2022
Sold
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3 Bedrooms
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2 Bathrooms
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Landsize 567m2
Unit
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Unique Short Stay Accommodation Opportunity - Margaret River Bungalows
Here's your chance to enter the holiday accommodation market in the booming tourist mecca of Margaret River. The astute purchaser can capitalize on the hard work of the owners, who have built these high quality bungalows to achieve in excess of 80% occupancy since 2018, and 90% occupancy in 2021. (Full 2021 financial year figures available end March 2022). If you're looking for a tree-change, or to set yourself up for an investment with rental income plus holiday perks, there are perfect options here!
Margaret River Bungalows consist of three all-but identical three bedroom/two bathroom residences in a refreshing natural bushland setting all just 500m from the main street of town.
Options are available to purchase 1, 2 or all 3 survey strata titled units in the enclave.
The craftsman-built Bungalows, all of which have their own car parking, air-conditioning, ceiling fan, wood fire, broad deck, easy-care gardens and an external woodshed, rate close to 10.0 on booking.com, and 4.86/5 stars on AirBnB.
Stunning Margaret River with its surf, sea, wine and restaurants is always high on the list for holiday destinations for Aussies, and (travel restrictions allowing) the rest of the world. Margaret River is just 3 hours from Perth and perfect for city folk looking for a week or weekend away. Plus the new regional airport in Busselton brings Margaret River so much closer to traffic from Melbourne and Sydney, opening future growth and a new market to target.
The options are intriguing: buy one unit, two, or all three. Live in one (these were specifically designed for short stay accommodation and are located within the tourist zone, but have all you could need for comfortable living) and manage the others (with training offered by the sellers). Or the sellers may continue to manage all three units as is under contract.
Don't forget that an investment here gives you the joy and convenience of booking out your own unit for holidays all year round. No more trying to book a holiday down south and finding no room at the Inn!
Relative financial information can be made available following qualified request.
Sold as a Going Concern and Inspections are limited due to guest bookings.
The 3 units are for sale via the Openn Offers platform - it is similar but not the same as an online auction. Openn Offers is a transparent and fair way for buyers to submit offers to give themselves the best chance of success. Please be aware, the seller may accept an offer at ANY time - so buyers are advised to get involved at their earliest so they may be kept informed and have the opportunity to keep offering if willing and able to do so getting involved early also reduces your competition. There MAY be a Final Offer Stage, but this is not definite, and/or the noted Final Offers Stage date and time may change, and should not be relied upon as a time to wait to make an offer. Do convey your buying position to us regarding buying 1 or 2 or all 3 units as we will ensure you don't end up with 2 units unless it is your wish to buy 2 units for example.
Please contact Mark Murray for inspection information and all further details.
Property features
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Toilets
2
Property snapshot by reiwa.com
This property at 3/16 Stewart Street, Margaret River is a three bedroom, two bathroom unit sold by Mark Murray at Ray White Stocker Preston on 14 Apr 2022.
Looking to buy a similar property in the area? View other three bedroom properties for sale in Margaret River or see other recently sold properties in Margaret River.
Nearby schools
Margaret River overview
The townsite of Margaret River is located in the south west agricultural area, 277 kilometres south southwest of Perth and 48 kilometres south southwest of Busselton. It is located on the Margaret River from which it derives its name. The precise origin of the naming of the river is not known, but it was possibly named by John Bussell in honour of Margaret Wyche, a friend in England who was expected to follow the Bussell's to Australia. The name is first shown on a map of the region published in 1839.
In 1910 the Margaret River Progress Association wrote to the Minister for Lands requesting a townsite be declared at "the Upper Margaret Bridge". The reason given was that "the district is likely to be dotted with public buildings several miles apart in the near future if a townsite is not made available shortly". The District Surveyor who inspected the area preferred an area near the lower bridge on Caves Road, but this land was not available. Lots were surveyed in 1912, and the Townsite of Margaret River gazetted in 1913. In 1918 the name of the townsite was changed to "Margaret", but it was changed back to Margaret River in 1927, due to local usage of the name always being Margaret River.
Margaret River quick stats
High end
$905k
Median
$750k
Low end
$670k
7.9 %
Annual growth
$750k
Annual median sales price
$760pw
Annual median rental price
