$680,000

An incredible opportunity awaits!

Investors preach that diversity is key, and here lies the ability to own commercial, residential, and accommodation in the one offering. We present the Manchester Arms / ‘Lamartine’ plus the adjacent property at 11-13 Alma Street, St Arnaud.

Set over an impressive 1164.8m2 (approx.) of Commercial 1 Zoned land, the 1907 building offers a prominent position in St Arnaud, rich in history and many a story, though incredibly, no heritage overlay for future development.

St Arnaud is a town in the historic Northern Grampians Shire that has seen an influx of tree changers and tourism for nearby infrastructure projects and farming stays. On average St Arnaud sees over 100 drive-in/out workers per week, and more than 30 backpackers and farm stay workers with more required. With only three other Airbnb's in town, and limited other accommodation options, the diversity of this investment offers unparallelled returns for a savvy investor or owner-operator.

The hotel downstairs area with two dining areas (one with bar), two outdoor areas, inclusive of front footpath space, has been recently re-fitted with a commercial kitchen and updated tap room with three sets of four head taps & Vectron POS system.

Upstairs can be configured with up to three apartments each with own bathrooms, and five individual accommodation rooms with shared bathrooms, already fitted with compliant fire escape.

The property at 11-13 Alma Street is two converted shops turned residential premises, comprised of a completely renovated two bedrooms, two bathrooms and two living areas plus kitchen/dining. A palm tree planted by the original owners in 1800s isn’t the only feature of the extensive backyard, with an expansive deck, built-in 4-person spa, large firepit and outdoor lounge area, dayroom with full bathroom (making a great outdoor self-contained space), and enough lawn to kick the footy or add some additional airbnb rentals STCA. This dwelling is the perfect place to operate your hotel from or utilise as an Airbnb for additional income.

Offering vacant possession and a quick settlement, this opportunity for the right buyer has significant income generation:

• $5,000pm / $60,000pa for the commercial space.
• $30 per person per night for single/double rooms (perfect for the influx of backpackers and workers), and $250 p/n for each multi-room apartment, once refurbished.
• $275 per night for Alma Street on AirBnB (ready to rent now). Rentals in St Arnaud are in short supply,the caravan park is full and motels are booked out for the drive-in-drive-out workers.
Total nightly revenue at capacity for all rooms/properties at those rates is $1325; at 60% occupancy rate projected annual income should be $179,775.00, leasehold for the hotel.

The chance to own such a significant property in a highly visible position is rare, and structured correctly can afford the owner with a residence, passive return and active business through three different value propositions.

Do not miss this one, it won’t be available long.