A top-ranked wedding venue on the Gold Coast hinterland with more than 200 weddings booked into the calendar has hit the market.
Austinvilla Estate, a private 46.5-hectare property situated 22 kilometres west of Surfers Paradise, has risen to prominence in the local wedding scene in recent years and is now ready to romance a new owner.
In the aftermath of COVID, grooms and brides-to-be have faced a “serious shortage of wedding venues” on the Gold Coast, according to listing agent Adam Grbcic of Kollosche Commercial.
“All over Australia, the market is pretty strong for weddings, but getting approval for sites in the Gold Coast is near impossible,” he said, adding few made it past the impact statement.
“There is no such thing as a block of land zoned for a wedding venue – it would be very difficult to find a suitable site and replace what has been created here.
Formerly known as Coolalinga Lodge, the current owners – Synergy Enterprises Pty Ltd – bought the then-rundown convention centre in Mudgeeraba six years ago.
Real estate veteran Noel Mewett, his daughter Tracey Welten and son-in-law Brad Welten, the head of building company Bradwel Constructions, are the high-powered trio who transformed the property into a successful wedding venue.
“When we first looked at the property six years ago, it was overgrown and in a state of disrepair,” said Mewett. “We knew we would have to spend some money, but we loved the site so much and had a vision for what it could become.”
Despite the family starting out “not knowing an awful lot about weddings”, they now account for 90 per cent of bookings.
The wedding industry is worth about $6 billion to the national economy each year, with the average couple forking out $36,000 for their celebration, according to industry group ABIA. Ceremony and reception packages at Austinvilla Estate start at $9000, not including food and beverage or accommodation.
“We’ve had nothing but five-star reviews since we started, and things have just grown from there,” Mewett said.
The trio are selling the property due to a health concern in the family.
In the four years since they began operating, Austinville Estate has ranked among the top-rated venues at the ABIA Wedding Industry Awards.
The leafy estate can accommodate up to 98 guests across 10 self-contained villas, a deluxe honeymoon suite, three bunk houses and a treehouse.
The property also includes a function room, wedding ceremony pavilion, hair salon, a fully-licensed commercial bar and kitchen run by head chef Gareth Keenan, a swimming pool with a spa, a conference building and a caretaker’s cottage.
There is a permit to add a further 10 guest cabins, another treehouse and a new residence.
The agent would not be drawn on a price range for the property but expected interest from existing operators who are looking to expand or relocate.
“This is an owner-occupier property – you’re buying yourself a job,” said Grbcic. “It’s de-risked by the fact that this one has 200 weddings booked in advance. You’re stepping into a well-oiled machine.”
He also expected to field interest from parties seeking to establish health retreats.
Expressions of interest close on December 6.
Article source: www.commercialrealestate.com.au
from Queensland Property Investor https://ift.tt/nGzy0tc
via IFTTT
