Name: 1 Ryrie Street, MICHELAGO, NSW 2620
Address: 1 Ryrie Street , NSW, Michelago, NSW, 2620
Telephone: +61 432 028 645

+3 Photos

SOLD

1 Ryrie Street, MICHELAGO, NSW 2620

Properties / Sold / New South Wales / Michelago

Development Potential

1. Property Summary

Property Type

Mixed Use

Land Area

6.60 hectares (*approx)

Selling Method

Auction: Auction - 11am (AEST) Thursday 27 October 2022

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2. Property Highlights

Mixed use development* site located on major transport corridor

1 Ryrie Street, Michelago provides a high exposure property located along the Monaro Highway at the entry to Michelago Village, with outstanding exposure to daily passing traffic from Canberra, Cooma and the Snowfields.

The 6.6Ha**. site features a Service Station is currently leased to September 2022 (that is in the final stages of being renewed for another 5 years), and a vacant 6-bedroom/ensuite motel with restaurant, bar, kitchen, alpine lounge and seating for 130 guests.

In addition to the recent improvements, the property previously featured Development Approval for 18 large rural/residential housing lots which could be revisited by prospective purchasers. Value enhancement opportunities also exist to operate or tenant the vacant motel or explore alternative development options* long-term.

Michelago's proximity to the ACT and Cooma has generated increasing interest from strategic purchasers, and opportunities to acquire income producing land banks with upside are limited.

*Subject to Council Approval **Approx.

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