Sunshine Coast hinterland property with wedding venue sold at auction
A Sunshine Coast hinterland property with its own mountain and a popular wedding venue has sold to an interstate couple in a multimillion-dollar deal.
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One of the Sunshine Coast’s most unique properties which is also home to a popular wedding venue has sold to an interstate couple.
The 42ha property at 1410 Yandina Coolum Rd is best known as the location of The Rocks Yandina wedding venue, but the property also features its own mountain, a timber plantation, three dams and seven hectares of paddocks.
A Darwin couple snapped up the property at auction for $4.65m making them only the third owners in 118 years.
Young Property Group chief executive Greg Young said the property would continue to operate as a wedding venue with the lease in place for at least another five years.
He said the new owners were interested in long-term development opportunities such as glamping or an integrated resort.
Mr Young said the former owner Richard Stedman – the former general manager of the Hyatt Coolum Resort – wanted to sell the property after spending the past 20 years living in Mauritius.
With 890m of river frontage and Wants Hill – a 200m high mountain with a Buddhist shrine at the top – Mr Young said it was a unique property.
It was advertised as having an annual rental income of $105,000.
“It’s a one of a kind property, it’s very unique, there’s nothing else like it on the Sunshine Coast,” Mr Young said.
“The new owners eventually want to move to the Sunshine Coast.
“There is some development potential for an integrated resort, there’s the river frontage as well as the licensed restaurant and the mountain that you can drive to the top of.”
Mr Young said about 55 people attended the auction on May 1 with three registered bidders and two other interested parties.
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