Campbell Point House selling with new price, approved expansion plans
Campbell Point House, the luxury Bellarine Peninsula private hotel and reception venue, is back on the market with new agents and a price guide.
Sydney agents HTL Property directors Nic Simarro and Andrew Jolliffe, and Nic Krasnostein from Ray White, Double Bay, have listed the Matthews Road, Leopold property in an international expressions of interest campaign running to March 17.
The price guide is from $16m to $18m.
The dual listing is targeting interest in the exclusive 15-room accommodation venue as a hotel, where recent planning approvals open the opportunity to offer gambling tables for high rollers, but also potential buyers seeking a luxury home in regional Victoria.
Mr Simarro said international travel bans had increased the demand for luxury accommodation, while Melbourne’s experience during the pandemic also had people seeking luxury homes in regional Victoria.
Campbell Point House offers eight suites comprising 15 rooms, an infinity edge swimming pool incorporating panoramic views of Lake Connewarre, a day spa, a 5-star restaurant and wine bar, a tennis court, jetty and an approved helicopter landing site.
The French-styled chateau estate was built originally as a private house for Aaron Parkhill and wife Meg Blackhall.
The almost 15ha landscaped estate includes a 250m water frontage to the Ramsar-protected Lake Connewarre.
The property was previously listed in March last year with price hopes above $20m but was taken off the market as Melbourne entered its second COVID lockdown in July.
The owners subsequently obtained planning approval for five more rooms, which Mr Simarro said would reach the 20-room threshold to allow new owners to seek a gambling licence to provide tables and offer, for example, poker nights for high rollers.
Mr Simarro said the owners had reluctantly decided to sell for personal, as distinct from commercial circumstances.
“In doing so they leave behind a range of value-add opportunities for an incoming party,” he said.
“These incremental revenue levers include construction of the further five already approved accommodation rooms to the west of the main building, as well as the potential, following receipt of approval, to obtain a gambling licence.
“Given the fact the property is located within an hour of the Melbourne CBD and airport and is only 30 minutes to Avalon Airport, we anticipate both strong domestic and offshore interest in the asset as international border restrictions continue and the demand for luxury regional accommodation increases.”
Mr Simarro said 18 inquiries were made in the first three business days of the campaign — 30 per cent for a luxury home.
Inquiries were from Victoria, interstate and offshore.
“There are multiple people in Melbourne that want to get out of the city in these conditions and would want to purchase a lakeside house or a holiday house and also domestic tourism is driving luxury accommodation,” he said.