Glass on Glasshouse
The Offer
The property and the business are on offer on walk-in walk-out basis inclusive of inventory (excluding private content in the residence and
some content in the cafe), database, and forward bookings. The cafe building is included subject to a short term lease.
The asking price has been reduced substantially for a quicker sale and shows a healthy yield of 12.26% on conservative basis. Please contact us for more details or to arrange an inspection. Note that inspections are strictly by appointment.
The Property
Glass on Glasshouse consists of three architect-designed luxury cottages with a central carpark/services building and an impressive main residence all set on a 20-acre site, which also includes the roadside business, The Lookout Cafe and its carpark.
The structures are in great condition and are concentrated along an access road to leave most the site untouched as a bio-diverse habitat. The stylish and romantic one-bedroom cottages are secluded among mango trees in a leafy ridge. They are located towards the rear of the site with clever orientation so that guests can enjoy this incredible oasis in total peace and privacy. In contrast, the residence is placed near the road to act as both gatehouse and signpost for the holiday cottages.
Each cottage has a spacious living area with magnificent views of one or both of Mount Beerwah and Mount Coonowrin, the two grandest of the Glasshouse Mountains, through the floor to ceiling glass walls that surround the cottage on two sides. The bedrooms feature a comfortable king-size bed (or two singles) while the bathrooms feature a gorgeous freestanding waterfall double spa bath. The inclusions are all top quality with a beautiful two-sided eco-smart fire which can be experienced from the bathroom as well as the lounge. The cottages are fully self-contained with a well-equipped kitchenette. There is also an elevated deck where you can have a BBQ while enjoying the wildlife around you.
The sleek and light filled 3-bedroom residence is stunning in design with a steel frame, spotted gum chamfer boards and a floor to ceiling glass along its north side framing a magnificent view. It is thoroughly modern in its appearance scooping a national building design award for best custom designed home from the Building Designers Association in 2010. The central breezeway deck is a key feature of the home. It acts as an informal entrance to the guest wing to the west and the main section of the house in the East, which includes a spacious combined living, dining and kitchen area with a built-in fridge and granite benchtops. The main bedroom has a claw foot bath over a bed of white stones while the guest bedroom has a sunken spa. The vendors currently use the third bedroom as a study. There are a lockable garage and a carport underneath the house.
The Cafe building is rustic in style and has undergone a substantial refit at the total cost of $170k in 2013. It seats up to 24 patrons in the air-conditioned inside room and 24 patrons in the open area, which is roof-covered with side blinds. The cafe has a cool room, large storage, two toilets and a fully equipped kitchen area. It also has its poly water tank (approx. 24,000 litres), a 1.5KV solar system and a sealed parking area that includes disabled access. Patrons can enjoy wonderful views of the mango orchard and Mount Coonowrin and can often spot wild kangaroos grazing below.
The Business
Glass on Glasshouse started operating in 2008. The business has over the years acquired an excellent reputation and won some awards. It received the Best BnB in Australia' award by the readers of Australian Traveller Magazine for 2011-2012 and again in 2012-2013. The business was awarded the Most Romantic Holiday Rental in QLD from Stayz in 2012 and a TripAdvisor Certificate of Excellence in 2013, 2014 and 2015. The occupancy rate is very healthy at 82%.
The cafe business commenced trading in 1996. In July 2013, the cafe was leased out at the annual rental of $22,100 + GST + electricity usage. It too enjoys a great reputation and is currently open for breakfast, lunch and afternoon tea.
In FY 2016, the business generated a total income of approx. $278k and an adjusted operating profit of approx. $184k (inclusive of the café rent). There is room for expansion with council approval for another three cottages at hand.
The Location
The property is located in the beautiful Sunshine Coast Hinterland approx. 58 min north from Brisbane CBD and 47 min south of the Sunshine Coast Airport. It is only 6 km from the local township of Glass House Mountains and is strategically located on the main tourist road that leads to the popular Glass House Mountains Lookout (the lookout offers wonderful views of the amazing series of ancient volcanic mountains that rise abruptly from the coastal plain). This unspoilt area is national heritage listed and is surrounded by national parks, state forests, farms and charming towns and villages. The popular Australia Zoo in Beerwah is just 15 minutes away and nearby are Caloundra's beaches, the cosy villages of Woodford, Montville and Maleny, and world famous Noosa.
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