Property ID: 1P0261

53-55 Cyrus Street Hyams Beach NSW

$9.5m
  • 7
  • 7
  • 9
  • House
  • For Sale
  • 2641 sqm
  • 9
  • $6,500.00 Per Year
  • $4,500.00 Per Year
A once in a lifetime opportunity exists to own an iconic piece of Hyams Beach real estate with an incredible income stream!
The Hyams Beach Seaside Cottages, opposite the whitest sand in the world are arguably one of the most sought after and highest occupancy couples only accommodation on the South Coast of New South Wales.

The seven heritage listed cottages were built as fishermen's cabins in the 1920's and have been transformed into delightful, one bedroom suites. The cottages are also cleverly laid out so that each has a bush and ocean view from the north facing deck.

This large block in Hyams Beach - one of the largest at 2,641m2 - is under utilised and has the opportunity to further develop the site with numerous planning options: the addition of three or more cottages, a separate residence, or a sub-division of the rear land for residential or tourism purposes.

Subject to Council approval, there are opportunities to construct 3 - 4 additional cottages on the site. A DA was previously obtained in 2001 for 3 extra cabins, however it was not substantially commenced.

The cottages achieve very high occupancy levels (60 - 70% per annum). Peak rates are $350 per night, and the weekend rate is $330 per night - with scope to push this further. Precedents exist in Hyams Beach to push the nightly rate into the $350 - $500 range all year round.

The profit margin on the cottages is very high with opportunity for even greater returns. The couples only market has the highest per capita nightly rate and the lowest per capita wear and tear - making it the best holiday rental market segment for investors to target.

The cottages have been in the same hands for 27 years and are currently operated as a self managed super fund investment property that is leased to The Holidays Collection. The contract is continuing on a month by month basis and can be extended for a longer period.

An opportunity exists for a property investor to continue the existing lease arrangement, or to put the cottages under management by The Holidays Collection on a commission only basis.

There is also great scope for a more active buyer to operate the cottages on a day-to-day basis and reap the rewards of an exceptionally strong income and a relaxed lifestyle in magnificent Jervis Bay.

Financial information + previous DAs + conceptual drawings will be made available to serious buyers.

A rare opportunity exists to purchase one of the most exciting pieces of real estate offered in today's market!

An incredible income and lifestyle opportunity comes only once in a lifetime!

Inspection is by appointment only. Please contact Craig McIntosh, Managing Director, The Holidays Collection on 0455 544 228
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