67 Rowcliffe Road, Forest Grove WA 6286

The Margaret River Stone Cottages are located in the beautiful Margaret River Wine Region and offer a unique lifestyle and business opportunity in a peaceful and scenic location.

The property is easily accessible to the town of Margaret River which is the main commercial and business centre for the region and offers many restaurants, bars, recreational and shopping facilities. The property is also in close proximity to many pristine beaches, world renowned wineries, magnificent National Parks, cycle & walk trails and is only a short drive from the Blackwood River.

Nestled amongst the parkland cleared site are four character cottages providing comfortable holiday accommodation in a beautiful natural and peaceful setting. The cottages are constructed with locally sourced stone walls on the ground floor level, painted Jarrah weatherboard walls on the first floor level and a corrugated iron roof. Each cottage provides an open plan kitchen, living and dining area, bathroom and covered verandah/patio on the ground floor level and two sleeping areas/bedrooms and powder room/WC on the first floor level.

The kitchens are equipped with an upright gas oven/stove, natural timber cupboards and a stainless steel sink. The bathrooms are fitted with a shower stall, vanity with inset basin and WC.

The living area is bathed with natural light and equipped with a reverse cycle air-conditioner, slow combustion wood fire and a ceiling fan.

The cottages have a verandah/patio which is brick paved and enclosed with a timber and wire balustrade/fence to make it pet proof (the property is pet friendly).

Each cottage has a slightly different bedding arrangement:

Cottage 1 - 1 queen bed and 3 single beds
Cottage 2 - 1 queen bed and 1 king bed
Cottage 3 - 1 queen bed and 1 king bed
Cottage 4 - 1 queen bed and 3 single beds

There is combined office and laundry in a separate timber framed building with corrugated metal, weatherboard and stone walls and a metal roof. It is divided into an office area, communal laundry room and linen store and, having been recently extended and upgraded, is in a good condition.

A fresh water supply from a spring fed dam on the property is collected in two concrete tanks adjacent to cottages 3 & 4. The tanks are equipped with a pressure pump which reticulates water to the cottages and laundry. An additional metal tank is located adjacent to the spring fed dam and is used for firefighting purposes, and this tank can also be used as a backup to the main water supply.

The soak/dam (spring fed) is located towards the road frontage (southern boundary) and is equipped with a pump for irrigation purposes.

The accommodation business operates as Margaret River Stone Cottages and has been established for about 29 years (commenced in 1986). It comprises the letting and management of four self-contained cottages which are let on a short term basis as tourist accommodation.

Monthly occupancy figures from December 2013 through to September 2015 show an average occupancy for this 22 month period of 68% or 248 nights per annum. This equates to an average rate per chalet per night of $147.42 based on the information provided for the 2015 financial year.

An analysis of the financial statements shows an adjusted net profit for the last 4 financial years of approximately $81,000 per annum. Full financials are available following inspection of the property and signing of a confidentiality agreement.

The Sellers are registered for GST and propose to sell the business/property on a "going concern" basis and therefore GST free. For this to apply the buyer will need to also be registered for GST. If the Buyer is not registered for GST then the GST will be added to the purchase/sale price. We strongly recommend that you seek advice from your accountant in regard to the GST implications of purchasing this property/business.

For a private viewing please contact Ray Stocker today on 0418 932 746.