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Regional investment: try these potential money makers

Investor eyes are on regional Victoria amid cooler Melbourne market conditions and following a Federal Budget tipped to boost towns and cities outside the state capital.

We’ve collected some quirky and historical listings that savvy investors could turn into money-making opportunities.

118-124 Raymond St, Sale

australian money market, Regional investment: try these potential money makers

The heritage-listed building offers prominent street frontage in Sale.

australian money market, Regional investment: try these potential money makers

Polished floorboards, coffered ceilings and chandeliers make for a wonderful pub setting.

australian money market, Regional investment: try these potential money makers

wonderful pub setting.

A heritage-listed former Australian Mutual Provident headquarters built in the 1930s is banking on attracting a buyer to Sale.

The prominent building, zoned for commercial use, still has the statues that were a feature of all AMP buildings.

“What’s really interesting about the way in which they created their brand was that they used social values that were represented by the Amicus group of statues,” vendor Ivan Rijavec said.

“They actually used these statues to crown their buildings all over Australia — what’s particularly significant about this one — if you looked at all the AMP buildings — it’s one of the best of its time.

australian money market, Regional investment: try these potential money makers

Upstairs is room for a New York-style apartment, or a rooftop bar.

australian money market, Regional investment: try these potential money makers

The property was recently in use as a nightclub.

“It was considered to be the best building in the region.”

Mr Rijavec said that, as one of the final builds before the Great Depression began, “it was the last of the buildings of prosperity”.

Graham Chalmer director Chris Morrison said the property was being sold as a commercial building, but had flexibility for a variety of uses.

“For the last ten years it’s been a nightclub and for various reasons that closed down,” Mr Morrison said.

“We’re trying to sell it as a commercial building — a residence upstairs and then two commercial or two retail spaces downstairs.”

103 Mitchell St, Echuca

australian money market, Regional investment: try these potential money makers

The gardens are a feature of the Echuca property.

australian money market, Regional investment: try these potential money makers

A glassed-in balcony wraps around much of the main residence.

australian money market, Regional investment: try these potential money makers

Sitting rooms abound in the quirky property.

An Echuca bed and breakfast with two dwellings and a unique garden is also on the market at the revised figure of $725,000.

The 1000sq m property has a two-storey residence with two bedrooms with ensuite bathrooms, a kitchen, lounge room, office, craft room, sauna, spa, display rooms and a large storage space.

The main dwelling at 103 Mitchell St, Echuca is encircled by a wraparound, glassed-in balcony, with flower pots and timber featuring throughout.

“It’s a quirky, unique property,” said Ray White Echuca agent Lucy Piotrowski.

australian money market, Regional investment: try these potential money makers

103 Mitchell Street, Echuca is listed at $725,000.

australian money market, Regional investment: try these potential money makers

The property is on approximately 1000sq m.

“The person who owns the property lives on site but also rents out the cottage and other rooms.”

Pride of place belongs to the large garden, with a stream fed by multiple fountains, oriental statues and stone footpaths meandering lazily along.

“The gardens are lovely — they’re beautifully maintained,” Ms Piotrowski said.

2730 Traralgon-Maffra Road, Cowwarr

Once it churned out butter, now it churns out artworks.

australian money market, Regional investment: try these potential money makers

Paintings and sculptures are on display throughout the home.

australian money market, Regional investment: try these potential money makers

You can see why the property has been a fruitful artist’s residence.

A historic artist’s residence and art gallery east of Melbourne is looking for a new owner with a creative streak.

The six-bedroom residence, on 0.51ha with other dwellings including a pottery studio, is listed at a price of $775,000.

“It’s exactly 100 years old — it was built as a butter factory in 1919,” said Leo O’Brien’s eponymous director of 2730 Traralgon-Maffra Rd.

“It’s so solid, it’ll still be there another 500 years.”

australian money market, Regional investment: try these potential money makers

A large open dining and living space feels like a great hall.

australian money market, Regional investment: try these potential money makers

One of the Cowwarr home’s creative spaces.

australian money market, Regional investment: try these potential money makers

A homely kitchen.March 23: Jack Boronovskis’ Victorian property wrap

Mr O’Brien said there had been significant interest from buyers hoping to convert the massive residence and self-contained studio into a “destination B&B”.

“A lot of people take that back road — it’s become a sort-of secondary holiday route,” Mr O’Brien said.

“Particularly during the summer, that road gets fairly busy now.”

This article was first published in www.realestate.com.au. Here is the link to the original article: https://www.realestate.com.au/news/regional-investment-try-these-potential-money-makers/

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