Freehold Opportunity - Must @ Coonawarra
Opportunity to purchase this Sophisticated Apartment Style Motel.
Ideally situated between Adelaide and Melbourne in the popular tourist area of Penola amongst the World Class wineries of the Coonawarra Region.
The size of Penola is approximately 252.5 square kilometres. It has 14 parks covering nearly 11.5% of total area. The population of Penola in 2011 was 1,706 people. By 2016 the population was 1,571 showing a population decline of 7.9% in the area during that time. The predominant age group in Penola is 60-69 years. Households in Penola are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Penola work in a labourer occupation. In 2011, 70.7% of the homes in Penola were owner-occupied compared with 67.4% in 2016.
Penola has 1,236 properties. Over the last 5 years, Houses in Penola have seen a 106.03% increase in median value, while Units have seen a 24.46% increase. As at 31 July 2024:
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