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.
Remember to mention you found this property on DevelopmentReady
