Local investors circle multi-investment opportunity in Hahndorf
A landmark tourism asset in the heart of Hahndorf, packed full of opportunities, has become the centre of attention with buyers.
Home to Thiele House Retreat, Landhaus Wines, La Prova, Blacksmith Café and popular Christmas market “Gathered”, 102 Mount Barker Rd, has been listed for sale for the first time in 20 years, with the sale sparking hopes it could bring new business opportunities to the town.
Listed with an asking price of $4m, the sale incudes five separate buildings, including a residential home and six commercial tenancies.
Selling agent Trent Shorland, of Harcourts Adelaide Hills, said the sale offered a rare opportunity to secure a slice of Hahndorf history.
“Hahndorf is a very good marketplace so inquiries have been trickling in nicely as you don’t see a lot of these type of investment opportunities come up often,” he said.
“There has been especially good interest from locals as you got the commercial aspect of the property and the Airbnb (Thiele House), but also another private residence which could be used as another holiday home, if the buyers chose not to live there.
“On top of that, you’ve got the Gathered market there once a year and if I were the purchaser, I’d also look at running weddings, as you have this beautiful garden in the back with a majestic oak tree.”
Set on 4800sq m of land, the front of the property is occupied by three commercial buildings and off-street parking for staff and visitors.
Thiele House sits just behind, with the luxurious retreat, which includes four bedrooms and two bathrooms, currently transacting for around $620 per night.
The rear of the property also includes a modern and functional main residence with two bedrooms and private garden views.
Mr Shorland said the property currently generates an annual net income of around $164,693, with rental uplifts expected by the end of the year.
“With Hahndorf continuing to experience high demand in the commercial leasing space, there are currently no vacancies, there is certainly opportunity to rapidly improve the yields currently achieved,” he said.
“The current leases in place are a real mixture, some have less than 12 months left, while others are locked in for around three years, but all will transfer across with the sale.
“So, there’s a lot of potential here with existing income.”
The property is being sold in partnership with Venture Commercial.