Silvertop Cottages
The Offer
On offer for sale is a private residence with three separate self-contained guest cottages, set in a delightful mountain forest that provides
an idyllic and peaceful lifestyle, a short distance from some quintessential tourist destinations close to Melbourne.
The freehold and the business are for sale as is on walk-in/walk-out basis including the content of the cottages and everything needed to run the business and maintain the property (the owner is only retaining the content of the owners cottage).
Please contact us for a detailed Information Memorandum and to arrange an inspection.
The Property
The improvements on this beautiful 12 acres property consist of 3 individually designed storybook guest cottages (1 x studio, 1 x 1 bedroom and 1 x 2 bedroom) and a separate owner’s cottage with a garage, carport, and storage area. There is also a deep dam and reduced vegetation surrounding the buildings providing approx. 2 acres of clear ground within a forested environment that abut the surrounding state forest.
The guest cottages are clad in blue mountain colorbond to reduce maintenance and are situated at a safe distance from each other to provide privacy to guests. They were completed in 2009 and are in excellent condition. Each cottage is fully self-contained with a well-equipped kitchen, gas or wood heaters, outdoor BBQs, and high-quality tasteful furnishing. The studio and one bedroom cottages also have roomy spa bathrooms.
The previous owners moved the cottage into place in the 1980s from the Yallourn area. It has a distinct charming cottage style and includes three bedrooms and an office, two bathrooms and a separate toilet as well as a large front balcony and a rear deck. It features polished floorboards and a slow combustion oven. The underfloor and the roof are insulated, and there is a nice wood heater in the living area. The balcony is an ideal place to relax and enjoy the quiet of the surrounding forest
Power to the property is via underground lines from Erica and water supply is plentiful with two large capacity water tanks.
The Business
The business started operating in 2007 when the owners advertised the cottage for holiday letting to establish demand. The guest cottages were then built and added to the letting pool in 2009. The business has since grown year on year, transitioning from primarily weekend business to stays of longer periods with improving weekday occupancy.
Silvertop Cottages is well- established with an excellent reputation and repeat custom. It features a unique offering with limited competition. It caters for a variety of customer profiles including couples looking for a romantic getaway within driving distance from Melbourne as well as the many travellers visiting the popular tourist destinations in the area and the stunning natural surrounds of the property and all the associated outdoor activities. It particularly caters for families during the holidays and the snow seasons.
A husband and wife team currently run the business. The turnover is consistent and has averaged approx $59k over the last 5 years provides a modest income for a couple looking for a fantastic mountain lifestyle. The net profit of approx $27k is achieved from a low occupancy rate of approx 35% due to health and lifestyle reasons.
The Location
Silvertop Cottages is located 2-hour drive east of Melbourne, around 2 km from both the township of Erica and Rawson and approximately 15 minutes from the historic gold mining town of Walhalla.
The towns of Traralgon and Moe are both about 30 minutes from the cottages and are the main centres for shopping in Latrobe Valley. Although relatively close to these centres the locality is in the foothills of the Great Divide with good access to Mt Baw Baw and Mt St-Gwinear both around 35 minutes away for winter snow play and skiing. The area is also a favourite for four-wheel driving, mountain bike riding on the relatively new 30 kilometres Erica MTB Park, bushwalking and photography.
Agent’s Opinion
This opportunity would suit nature lovers with a desire for the healthier and simpler life without sacrificing modern-day comforts. The home has a relaxed, cosy feel and the business offering is viable with upside potential. Tthe quality cottages provide a comfortable base for guests to explore the Mt Baw Baw area and the Mountain Rivers area.
INSPECTIONS ARE STRICTLY BY APPOINTMENT.
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