SOLD
Sold on 19 Jan 2024 for $500,000

24 Seaby Street
Stawell VIC 3380

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1450m2
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Property Details for 24 Seaby St, Stawell

Building Type
Commercial
Land Size
1450m2
Local Government
Northern Grampians
Lot/Plan
CP159479

Last Listing description (October 2023)

EXCLUSIVE TO MHB

Can it get any better?

10 x unit VIC freehold motel located just a 2.5 x hour drive from Melbourne.

Perfect corner location, situated upon a large 1,450m2 (GRZ1) corner land allotment in the heart of Stawell.

ACCOMMODATION Opportunity:

Offering 10 attractive and well-equipped motel rooms across 2 levels, each with a capacity to accommodate up to 3 adults with a queen and single option. Plenty of off-street parking is also available for guests. A comfortable 2 x bedroom on-site owner`s residence completes the accommodation package.

* DEVELOPMENT Opportunity:

As an added bonus, planning permission for 4 x new motel style accommodation units, the construction of which has been deferred until 2023 allowing the benefit of transferring to the new owner. (Estimated cost $400K).
The restaurant and function spaces along with the 2 bedroom residence could also be re-purposed as additional guest accommodation.

A comfortable 2 x bedroom on-site owner`s residence completes the accommodation package.

* RESTAURANT Opportunity:

Currently in use, with a commercial kitchen and current VIC liquor licence.

With a restaurant capacity for up to 39 seats, the food is of the quality one would expect to find in top Melbourne restaurants.

The function room and outdoor eating area is perfect for hosting larger parties with a capacity to seat up to 60 guests and the Diamond House bar also holds nights of good food and good music, bringing the best of Australian Blues and Roots Guitar music to country Victoria.

An ideal opportunity for an operator to convert the main restaurant within the property to cater to any type of in demand diverse cuisine restaurant and/or takeaway.

Originally constructed in 1868, the Diamond House Motor Inn is one of the oldest and most distinctive houses in Stawell.

Key Features:

* Valuation $1,000,000 circa July 2022
* Development opportunity (beyond the 4 new units STCA)
* The only motel in Stawell off the Highway
* 10 x well-appointed motel suites with planning permission for 4 x more units
* Function room capacity for up to 61 guests and restaurant for up to 39
* Double revenue stream with accommodation and restaurant
* Ideally located within a popular tourism region
* 2 x bedroom owner`s residence
* Current and transferrable VIC Liquor Licence
* Set on (approx.) 1,450m2 of General Residential Zoned land

The town of Stawell caters to approx. 6,000 to 7,000 people in main town and nearby smaller suburbs. Stawell is the closest large town to the Grampians National Park and the park's tourist village of Halls Gap, making it an ideal base to explore the natural attractions in the area. The economy of Stawell is sustained by the mining, agriculture, manufacturing, retail and tourism industries.

Investors note - keep the building and sell the business going forward. So many options with a property of this nature.

Contact Kamal Sharma direct on 0417 008 672 or Dan McDonald direct on 0437 838 368 for more information and to book an inspection.

Property History for 24 Seaby St, Stawell, VIC 3380

A timeline of how this property has performed in the market
Last Sold
$500,000
19 Jan 2024
  • 19 Jan 2024
    Sold for $500,000
  • 02 Jul 2018
    Sold for $405,000
  • 20 Mar 2012
    Listed for Sale $520,000
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About Stawell 3380

The size of Stawell is approximately 92.4 square kilometres. It has 20 parks covering nearly 7.9% of total area. The population of Stawell in 2011 was 6,150 people. By 2016 the population was 6,034 showing a population decline of 1.9% in the area during that time. The predominant age group in Stawell is 60-69 years. Households in Stawell are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Stawell work in a labourer occupation. In 2011, 71.2% of the homes in Stawell were owner-occupied compared with 69.7% in 2016.

Stawell has 3,830 properties. Over the last 5 years, Houses in Stawell have seen a 76.65% increase in median value, while Units have seen a 45.48% increase. As at 30 September 2024:

  • The median value for Houses in Stawell is $320,902 while the median value for Units is $276,083.
  • Houses have a median rent of $380 while Units have a median rent of $260.
There are currently 16 properties listed for sale, and 2 properties listed for rent in Stawell on OnTheHouse. According to CoreLogic's data, 134 properties were sold in the past 12 months in Stawell.

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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.