Profit from a Sea Change
Property ID 1890076Looking for an investment opportunity that has the potential to provide, not only healthy returns, but a more self-sufficient and satisfying way of life? Then look no further than this magnificent, heritage-listed piece of Australian history, now on the market for the first time in 20+ years, having delivered its existing owners and their growing family a wonderful work-life balance over those decades.
Built in 1863 and formerly Wallaroo's Methodist Church, this unique property retains all the drama of its original purpose, with 4 to 7 metre ceilings, a choir loft (now a bedroom mezzanine), church hall (currently a massive guest recreation room) and an historically significant septagonal Sunday school room (currently an office), as well as rich flourishes of Victorian grandeur - gothic arches, lead light features, timber-clad walls, Baltic pine floors, cast-iron columns and beautifully crafted staircases and balustrades.
Lovingly restored and maintained by the present owners, it first served as a fabulous family home and, more recently, has been turning in a tidy profit as a character B&B for guests on short breaks from Adelaide and further afield. The new owners may decide to continue to run it on this basis - it is being sold as a going concern, with all furniture included (you can read some visitor reviews at https://www.stayz.com.au/accommodation/sa/yorke-peninsula/wallaroo/9206458) - with forward bookings already in the diary as far as 6 months ahead and a possible 6.5%* return on investment without even lifting a finger, this would have to be a serious consideration, depending on the buyer.
You may have other ideas, from reinstating it as a luxury family home - an easy transition, with three huge bedrooms, massive and well-appointed open plan kitchen/dining/family room with slow combustion heater and ducted evaporative air conditioning, bathroom with spa bath, stunning (as mentioned) recreation and office spaces, undercover outdoor entertaining and parking for two vehicles (extra high clearance for caravans and boats) and second bathroom for sandy days at the nearby beach - to repurposing according to your own personal vision (STCC).
With its historical credentials and period internal features, imposing footprint and street appeal, the property would potentially lend itself well to such ventures as a luxury boutique hotel, five-star restaurant, informal bar-restaurant, function venue, commercial office space, art gallery - depending on which, with potential for living in.
The sale of this property comes at an opportune moment in the fortunes of Wallaroo, former mining town, active deep sea port and gateway to the tourist attractions of Yorke Peninsula and the Copper Triangle'. Just 1.5 hours drive from Adelaide, it is now on the developers' radar and set to become a prime holiday destination, with the Copper Cove Marina Project well underway and restaurants, bars and residential and holiday apartments springing up at the rate of knots.
With all this interest pouring into the town, this gracious building is poised for a new lease of life, in line with the vision and efforts of the incoming owners.
Maybe you dream of exchanging the city rat race for a life lived at your own pace in a relaxed, yet thriving, historical town. Maybe you long to live by the sea and bring up your family within striking distance of a major city but far enough away to enjoy the benefits of country living. Maybe you have skills or experience in hospitality, property management or something else that would build on the value of an established B&B, and are itching to put them to better use. The motivations for moving here will be many and varied.
This is a once-in-a-lifetime opportunity to make an exciting and affordable sea change from which you will never look back. If it sounds like it might be you, begin your discernment by contacting us - we can give you more information on the building, its history, potential business case and anything else you need to know, with no obligation. Where once it was copper, now it's 8 Stirling Street - come for a visit and see for yourself the treasure on offer.