Sold
1 Ryrie Street,
MICHELAGO 2620, New South Wales
$2,300,000
Property details
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Agents
Mixed use development* site located on major transport corridor
1 Ryrie Street, Michelago provides a high exposure property located along the Monaro Highway at the entry to Michelago Village, with outstanding exposure to daily passing traffic from Canberra, Cooma and the Snowfields.
The 6.6Ha**. site features a Service Station is currently leased to September 2022 (that is in the final stages of being renewed for another 5 years), and a vacant 6-bedroom/ensuite motel with restaurant, bar, kitchen, alpine lounge and seating for 130 guests.
In addition to the recent improvements, the property previously featured Development Approval for 18 large rural/residential housing lots which could be revisited by prospective purchasers. Value enhancement opportunities also exist to operate or tenant the vacant motel or explore alternative development options* long-term.
Michelago's proximity to the ACT and Cooma has generated increasing interest from strategic purchasers, and opportunities to acquire income producing land banks with upside are limited.
*Subject to Council Approval **Approx.
The 6.6Ha**. site features a Service Station is currently leased to September 2022 (that is in the final stages of being renewed for another 5 years), and a vacant 6-bedroom/ensuite motel with restaurant, bar, kitchen, alpine lounge and seating for 130 guests.
In addition to the recent improvements, the property previously featured Development Approval for 18 large rural/residential housing lots which could be revisited by prospective purchasers. Value enhancement opportunities also exist to operate or tenant the vacant motel or explore alternative development options* long-term.
Michelago's proximity to the ACT and Cooma has generated increasing interest from strategic purchasers, and opportunities to acquire income producing land banks with upside are limited.
*Subject to Council Approval **Approx.
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Contact Ben Faulks
Contact Ben Faulks
Ben Faulks
1 Ryrie Street, MICHELAGO NSW 2620
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Ben Faulks
1 Ryrie Street, MICHELAGO NSW 2620