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Press Release

Popular Granite Belt Villas on Offer

A popular purpose-built resort complex at Stanthorpe in Queensland’s premier wine region with opportunities for expansion is being offered for sale by Ray White Hotels Australia.

The Olive Grove Estate comprises of six luxury, 4.5 star, fully self-contained, family sized villas at 5 Harris Street, Stanthorpe, in south-west Queensland is being marketed by Grant Bailey and Leon Alaban of Ray White Hotels Australia.
Mr Bailey said the Olive Grove Estate has a loyal following with advanced guest
bookings up until 2013.

“The contemporary complex is a favourite for holidaymakers to the Granite Belt
region, which is a wine and food mecca with more than 50 wineries in the vicinity,” he said.
Mr Bailey said the six air-conditioned villas range in size from two bedrooms to four bedrooms and boast the latest designer furniture, their own spa pools, electric leather massage chairs and secure, remote operated garages.
“This is an extremely well-constructed and spacious establishment with a 4.5 star AAA rating that has all the creature comforts and outrivals its competitors for style,” he said.

Mr Alaban said the Olive Grove estate is situated on a 1,955 sqm block and there
were opportunities for a prospective purchaser to expand the existing operations. “There is an opportunity for an operator to grow the complex and target the midweek business traveller market,” he said.

“A successful purchaser will have the ability to purchase the property as a walk in,walk out with the possibility to submit for a material change of use (MCU) and obtain an approval to strata-title the property into six individual lots,” he said. Upon approval of a MCU, the new owner would then have the ability to sell each apartment individually and/or sell the management rights.”
Mr Alaban said there was also the possibility for further expansion of the Olive Grove facility by purchasing adjacent land.

“The additional land could facilitate a number of one bedroom apartments to
compliment the luxury villas,” he said. The Olive Grove Estate is being offered for sale via Expressions of Interest, closing at 4pm on Thursday, September 15, 2011.

For more information:
Grant Bailey
Mb: 0414 818 909
Leon Alaban
Mb: 0422 011 455

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