Collection of Kangaroo Island cabins offer lucrative business opportunity
You might have travelled to Kangaroo Island for a holiday before – or at least thought about it – but have you ever considered tapping into its popular tourism market?
Now is your chance with a collection of holiday cabins in the island’s main township Kingscote up for grabs.
The 6ha parcel at 136 Playford Highway includes 10 one and two-bedroom cabins, all of which have kitchen facilities and bathrooms.
On three separate titles, the large land parcel with all 10 cabins is listed with an asking price of $690,000.
Century 21 Kangaroo Island principal Michael Barrett, who is selling the property, said it offered a lucrative investment opportunity, especially as more people started to flock back to the island for holidays in the wake of the coronavirus pandemic and bushfires.
“The vendor said to me that it brings in nearly $200,000 a year – it’s quite a lucrative little business” he said.
“He set it up so he bought the cabins and in some he built ensuites on the side of them.
“It’s a good opportunity and you don’t need to be an expert to rent it.”
With the interstate vendor selling the property to retire, Mr Barrett said the new owner could either manage it themselves or continue to employ the person who was currently taking bookings and the other who was cleaning the cabins.
“All you need to do is mow the grass every now and then,” he said.
Alternatively, Mr Barrett said the cabins, which were worth $50,000 to $60,000 each, could be rented out to tenants looking to stay longer than the average holiday-maker.
“We’re finding there’s a huge shortage in residential rental accommodation here,” he said.