SOLD
Sold on 06 Sep 2024 for $3,087,500

21 Pascoe Street
Apollo Bay VIC 3233

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1693m2
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Property Details for 21 Pascoe St, Apollo Bay

Building Type
Commercial
Land Size
1693m2
Local Government
Colac Otway
Lot/Plan
3/PS417737

Last Listing description (September 2023)

This highly successful exclusive accommodation business for sale in a premium tourist precinct on the Great Ocean Road. With 11 to 12 accommodation suites only, arguably the most up-market accommodation in Apollo Bay
With a long-term lease, fixtures, furniture & fittings in excellent condition and solid performance with a net profit margin on investment 25% average per annum. This opportunity is begging for the right operator to walk in and start profiting. Year on year growth and high demand following Covid-19 there is so much offering for one lucky buyer.
This Business would suit a first-time operator and/or an experienced business owner looking to partner with existing strong contracts with Online Travel Agents and Inbound operators and established Booking systems and Channel Manager software programs.

If it wasn't for the exceptional income produced from this upmarket business you would call it a 'Lifestyle' business, being set in the glorious seaside town of Apollo Bay. 200 metres to the Beach, shops, and cafes, within 100s of metres to a couple of great pubs, fine restaurants eateries and take aways.
- Business has been operating for more than 20 years
- Includes all furniture, fittings, commercial kitchen fit out etc.
- 4.5-star accommodation business with a 9.3 Booking.com rating
- Permits in place to turn the spacious dinning and bar area into a restaurant and/or function centre.
- Long standing relationships with key suppliers
- Apollo bay and the Great Ocean Road is one of Australia's premium tourist locations
- Electric Vehicle Charging station on site.
- Current management is willing to stay on for a hand over period
- Property inspection by appointment only

Property History for 21 Pascoe St, Apollo Bay, VIC 3233

A timeline of how this property has performed in the market
Last Sold
$3,087,500
06 Sep 2024
  • 06 Sep 2024
    Sold for $3,087,500
  • 16 Aug 2022
    Listed for Sale $850,000
  • 12 Dec 2017
    Sold for $750,000
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About Apollo Bay 3233

The size of Apollo Bay is approximately 87.1 square kilometres. It has 18 parks covering nearly 52.7% of total area. The population of Apollo Bay in 2011 was 1,094 people. By 2016 the population was 1,618 showing a population growth of 47.9% in the area during that time. The predominant age group in Apollo Bay is 60-69 years. Households in Apollo Bay are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Apollo Bay work in a labourer occupation. In 2011, 55.8% of the homes in Apollo Bay were owner-occupied compared with 64.5% in 2016.

Apollo Bay has 2,666 properties. Over the last 5 years, Houses in Apollo Bay have seen a 65.58% increase in median value, while Units have seen a 3.29% increase. As at 30 November 2024:

  • The median value for Houses in Apollo Bay is $1,028,094 while the median value for Units is $525,039.
  • Houses have a median rent of $500 while Units have a median rent of $500.
There are currently 47 properties listed for sale, and 5 properties listed for rent in Apollo bay on OnTheHouse. According to CoreLogic's data, 64 properties were sold in the past 12 months in Apollo bay.

Suburb Insights for Apollo Bay 3233

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.