508 Mt Dandenong Tourist RoadOlinda VIC 3788
Property Details for 508 Mt Dandenong Tourist Rd, Olinda
508 Mt Dandenong Tourist Rd, Olinda is a 2 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 35380m2. While the property is not currently for sale or for rent, it was last sold in May 2022.
Last Listing description (April 2023)
The landmark Cuckoo Restaurant and wedding reception freehold set on 9.5 acres in the Dandenong Ranges is a family operated business established in 1914 and offered for sale for the first time since 1958. A destination event reception centre for locals and visitors alike, this established and lucrative freehold business is a once-in-a-generation offering not to be missed.
This iconic tourist destination is synonymous with the local landscape and listed as a "must do" Victorian experience alongside Healesville Sanctuary, Puffing Billy and the Phillip Island Penguins. Once the site for selling fresh strawberries and cream to passers-by in horse-drawn carriages in the 1890s, to serving over 7 million customers under The Cuckoo banner, this unique property is unparalleled in the State and country-wide.
Set on 3.89 hectares approx. (9.5 acres) of gardens that wait to be rediscovered with 3 distinct titles/entities that allow for future possibilities subject to council approval. With car parking on site for in excess of 400 cars and all the infrastructure to operate a facility of this size, including emergency generators, septic systems and ample shedding. Located 400 meters from the Olinda township and 1.5 km from the Sassafras township to capture the beauty and convenience of the Dandenong Ranges but only 50mins from Melbourne, makes easy access for day trippers and tourists alike.
The building has to be seen and walked thru to be appreciated in its full grandeur. Starting as a small cottage and growing to its current size over the generations of three levels. Seating for over 400 patrons and kitchens that match.
Purchase the freehold and restart the business in the same Bavarian theme or reimagine. Restaurant upstairs, wedding reception on the middle level or maybe a microbrewery into the beer gardens. Options aplenty.
Ideally suited to the person who wants to operate a restaurant but possibilities to lease or redevelop. Note that this has been one of the most successful restaurants in Melbourne with a previous turnover in excess of $5 million.
Property History for 508 Mt Dandenong Tourist Rd, Olinda, VIC 3788
- 24 May 2022Sold for $1,999,999
- 24 May 2022Sold for $1
- 29 Mar 2022Listed for Sale $2,200,000 - $2,400,000
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0About Olinda 3788
The size of Olinda is approximately 17.9 square kilometres. It has 23 parks covering nearly 101.6% of total area. The population of Olinda in 2011 was 1,663 people. By 2016 the population was 1,749 showing a population growth of 5.2% in the area during that time. The predominant age group in Olinda is 40-49 years. Households in Olinda are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Olinda work in a professional occupation. In 2011, 84.6% of the homes in Olinda were owner-occupied compared with 82.9% in 2016.
Olinda has 969 properties. Over the last 5 years, Houses in Olinda have seen a 36.82% increase in median value, while Units have seen a 74.41% increase. As at 31 October 2024:
- The median value for Houses in Olinda is $1,093,648 while the median value for Units is $1,029,237.
- Houses have a median rent of $700.
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