SOLD
Sold on 10 May 2024 for $1,267,000

74-76 Towong Road
Corryong VIC 3707

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 4033m2
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Property Details for 74-76 Towong Rd, Corryong

Building Type
Commercial
Land Size
4033m2
Local Government
Towong
Lot/Plan
8/LP3451

Last Listing description (November 2023)

EXCLUSIVE TO MHB

Beautifully presented leasehold motel situated within spectacular scenery at the base of the Snowy Mountains in the High Country of north-east Victoria.


This charming motel features 18 x suites including queen, twin and family accommodation options, ample guest parking, laundry facilities, BBQ area and a 50 x seat breakfast room, perfect for outsourcing to functions, meetings or hosting bike groups etc.

A spacious 3 x bedroom family residence and in-ground salt-water swimming pool with amazing mountain views completes the package all within a short stroll to the vibrant town centre.

Corryong is undoubtedly the jewelled centrepiece of the magnificent region known as the Upper Murray. It is within close proximity to the pristine headwaters of the mighty Murray River and gateway to the NSW Snowy Mountains and Kosciuszko National Park making the township famed for its picturesque scenery and unspoiled natural beauty.

Industries in the area include agriculture, forestry and electricity generation (Snowy Hydro). The town itself services these industries and offers visitors a great variety of shopping, accommodation, eateries, self-drive tours and recreational sporting facilities.

Corryong is also home to the legendary "Man from Snowy River" and Elyne Mitchell's Silver Brumby. The area is a popular destination for rock climbing, rafting, horse riding, bushwalks, 4WD tours, cycling and fishing. And, with the proposed Corryong Circuit Trail project underway, this will create a shared walking and cycling trail which will provide valuable recreation opportunities for the community and visitors to the area.

Key Features:

* Brand new 25 x year lease direct from the owner
* Rent approx. 20.9% of turnover
* Profitable business with an excellent 40.4% (approx.) Buyers Yield
* 18 rooms with excellent repeat trade from corporate clients and tourists
* Magnificent views over the Snowy Mountains
* Well known area for Murray River fishing, wildlife scenery, tracks and trails
* 5 minute walk to main street of town
* Great local pub and community
* VIC Liquor Licence
* Iconic Snowy Mountain Hydro Electric Scheme power stations M1 & M2

The perfect place to work, relax and explore the beautiful upper Murray.

An inspection of this super business opportunity is highly recommended.

Contact Dan McDonald at MHB direct on 0437 838 368 for more information.

Property History for 74-76 Towong Rd, Corryong, VIC 3707

A timeline of how this property has performed in the market
Last Sold
$1,267,000
10 May 2024
  • 10 May 2024
    Sold for $1,267,000
  • 10 Mar 2023
    Sold for $1,200,000
  • 02 Jul 2019
    Listed for Sale Not Disclosed
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About Corryong 3707

The size of Corryong is approximately 69.2 square kilometres. It has 6 parks covering nearly 26.8% of total area. The population of Corryong in 2011 was 1,441 people. By 2016 the population was 1,365 showing a population decline of 5.3% in the area during that time. The predominant age group in Corryong is 50-59 years. Households in Corryong are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Corryong work in a managers occupation. In 2011, 66.8% of the homes in Corryong were owner-occupied compared with 64.1% in 2016.

Corryong has 974 properties. Over the last 5 years, Houses in Corryong have seen a 95.81% increase in median value, while Units have seen a 45.22% increase. As at 31 August 2024:

  • The median value for Houses in Corryong is $338,064 while the median value for Units is $321,871.
  • Houses have a median rent of $238.
There are currently 7 properties listed for sale, and no properties listed for rent in Corryong on OnTheHouse. According to CoreLogic's data, 27 properties were sold in the past 12 months in Corryong.

Suburb Insights for Corryong 3707

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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.