SOLD
Sold on 29 Feb 2024 for $1,640,625

283 Granite Belt Drive
Thulimbah QLD 4376

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 202034m2
Land area: 20140m2
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Property Details for 283 Granite Belt Dr, Thulimbah

Building Type
Commercial
Floor Size
202034m2
Land Size
20140m2
Local Government
Southern Downs Regional
Lot/Plan
11/RP856480

Last Listing description (November 2022)

Ranked as one of the best working hostels in Australia, Summit Backpackers in Stanthorpe is rapidly expanding. Constant growth over the past three years has provided the current owners with enough incentive to go through the arduous task of gaining development approval to double its size. All the hard work of the application process has been completed, with approval received. Highly profitable lifestyle business, with immediate plans for expansion. Stage 1 capital costs are expected to be less than half a million dollars. This outlay will show a 20% return on investment. Cashed up buyers looking for a solid return on their investment, should enquire today.

- Recent DA approval to double capacity
- Key contacts with local farms
- Government backed contracts
- Large four bedroom manager's residence
- High net profit of over $321k
- Can be run under management
- Great location in Granite Belt Food and Wine Bowl
- Growing turnover through traditional slow winter season
- Refurbishment not required, opportunity for growth through DA implementation
- Property inspections are by appointment only

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Property History for 283 Granite Belt Dr, Thulimbah, QLD 4376

A timeline of how this property has performed in the market
Last Sold
$1,640,625
29 Feb 2024
  • 29 Feb 2024
    Sold for $1,640,625
  • 28 Apr 2022
    Listed for Sale $2,600,000
  • 05 Mar 2018
    Sold for $650,000
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About Thulimbah 4376

The size of Thulimbah is approximately 13.5 square kilometres. The population of Thulimbah in 2011 was 332 people. By 2016 the population was 307 showing a population decline of 7.5% in the area during that time. The predominant age group in Thulimbah is 60-69 years. Households in Thulimbah are primarily childless couples and are likely to be repaying under $300 per month on mortgage repayments. In general, people in Thulimbah work in a labourer occupation. In 2011, 66.3% of the homes in Thulimbah were owner-occupied compared with 62.2% in 2016.

Thulimbah has 185 properties. Over the last 5 years, Houses in Thulimbah have seen a 117.24% increase in median value. As at 31 October 2024:

  • The median value for Houses in Thulimbah is $540,231 while the median value for Units is $347,867.
There are currently 6 properties listed for sale, and 1 property listed for rent in Thulimbah on OnTheHouse. According to CoreLogic's data, 6 properties were sold in the past 12 months in Thulimbah.

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