Properties for lease and sale

$850,000 - $880,000

7 Hays Street, Goolwa SA 5214

Web ID: #1P2286

Registration of Interest

Philip Dodd

0409 094 202

Freehold Investment Opportunity

Strategically located on the main road in Historic Central Goolwa, the property is currently leased to "Rankines @ the Whistlestop Café, Bar & Restaurant" with a detached Tourist Accommodation building overlooking the wharf reserve and lower Murray River.

Comprising a site area of some 470m2 with 3 street frontages, the improvements have been home to one of the South Coast's most popular and reliable restaurants for over 20 years.

The Café, Bar & Restaurant includes air-conditioning, ceiling fans, toilet facilities, outdoor dining areas and grease trap.

The 1 or 2 bedroom detached tourist accommodation B&B building fronting Admiral Terrace and overlooking the Historic Wharf area and lower Murray River provides regular income and is managed by the current lessee.

As of 1st December 2021, the Lessee is paying $5,298 rent per month including GST, plus outgoings for council rates, insurance, all services and the Emergency Services Levy.

The café building comprises rendered brick exterior with galvanized iron roof, and internal cathedral ceilings with exposed timber joinery. This building was partly re-built Circa 2003 and comprises some 157m2 including paved rear courtyard and sheltered front veranda alfresco dining area.
The detached B/B of some 137m2 currently comprises a one-bedroom self-contained apartment with a portion of the building being used for office administration and storage for the Café.

The lease expires in November 2022, with 2 rights of renewal allowing the next owner versatile future options to re-lease or owner occupy this established commercial use property in a State Heritage zone of Goolwa Township.

Contact Agent for details and to arrange an inspection by appointment
Philip Dodd: 0409 094 202