Cottage Point Inn and apartments in Hawkesbury on the market

Alistair WalshMay 24, 20120 min read

Ideal for the gourmand investor, the Cottage Point Inn in Hawkesbury has come onto the market for the first time in 23 years.

Investors can’t be too shy of water, as the restaurant sits on the waterfront in the Kuringai Chase National Park and is accessible by seaplane or ferry. Alternatively it’s a 40-minute drive from Sydney.

Originally a boat shed and general store, it was converted in the 1970s and has been operated by Daniel McKinnon for the last 20 years. The property is currently owned by yachtsman Dr Tony Fisher and his daughter Sally Smith through their company Helsal Investments Pty Ltd, named after the 70-foot concrete yacht Helsal which Fisher captained to win line honours at the 1973 Sydney to Hobart yacht race. They bought the property in 1989.

Steve Daley, of Irish and Maltese descent, is the current head chef after 15 years in the hospitality industry, including an apprenticeship at the Pier and time in Europe focusing on French training and techniques. He is reportedly an avid fisherman is often seen on the river fishing for jewfish and kingfish with other staff members.

The restaurant has a private floating deepwater pontoon for seaplanes and large boats for use by diners and guests. A package including sea plane charter from Sydney to the restaurant and a three-course meal costs $485 per person.

Cottage Point Inn includes two fully self-contained apartments, which along with the restaurant pay rent of $313,750 a year. The tenants pay all outgoing costs, including a $20,000 National Parks & Wildlife licence. The apartments start at $220 a night.

The restaurant and apartments are on a five-year leases signed on April 1 plus five-year renewal option.

LJ Hooker Palm Beach agent Peter Robinson expects the buyer will also pick up a timber cottage at the back of the property on the same auction day.

On a separate title the 853-square-metre, three-bedroom home is being offered as part of a combo deal.

Robinson is expecting about $5 million for the two properties if bought together but says if there is no investor interest in buying both the vendors are willing to sell the Cottage Point Inn Restaurant and Apartments title for around mid-$3 millions plus GST and the residential house in the mid-$1 millions.

Cottage Point Inn and the house go to auction on May 31.

Alistair Walsh

Deutsche Welle online reporter
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