SOLD
Sold on 07 Aug 2024 for $1,400,000

126 Church Street
Penola SA 5277

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 2000m2
Land area: 3161m2
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Property Details for 126 Church St, Penola

Building Type
Commercial
Year Built
2006
Floor Size
2000m2
Land Size
3161m2
Local Government
Wattle Range
Lot/Plan
A422/T421601

Last Listing description (August 2024)

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.

This Contemporary style facility was built in 2006 and recently refurbished.
There is an attractive open plan Manager's residence with lounge, dining and kitchen.
This profitable property has a proven track record with a long lease in place, where if all options are taken up will expire in 2049. Market rent adjustments apply.
Currently the leasehold interest is also available to purchase. Phone Agent for Further Details.
Freehold interest priced at $1,495,000 demonstrating a good return on investment.
RLA153432

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Property History for 126 Church St, Penola, SA 5277

A timeline of how this property has performed in the market
Last Sold
$1,400,000
07 Aug 2024
  • 07 Aug 2024
    Sold for $1,400,000
  • 28 Jun 2024
    Listed for Sale $1,495,000
  • 02 Dec 2022
    Listed for Sale Leasehold & Business - $475,000 plus SAV
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About Penola 5277

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 1,241 properties. Over the last 5 years, Houses in Penola have seen a 93.11% increase in median value, while Units have seen a 39.67% increase. As at 30 November 2024:

  • The median value for Houses in Penola is $369,647 while the median value for Units is $257,082.
  • Houses have a median rent of $260.
There are currently 7 properties listed for sale, and no properties listed for rent in Penola on OnTheHouse. According to CoreLogic's data, 57 properties were sold in the past 12 months in Penola.

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RAY WHITE BORDERTOWN & DISTRICT
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