Brewery set near WA's Margaret River listed with $6 million hopes
A brewery and short-term accommodation three hours from Perth is on the market for an expected $6 million.
Set in Western Australia’s Margaret River tourist mecca, the property at 4259 Caves Rd, Wilyabrup spans more than 14 ha, including a farmhouse, the Cheeky Monkey Brewery and Cidery, restaurant and Ferngrove Vineyards cellar door.
A five-bedroom, two-bathroom homestead, affectionately known as Burton Farmhouse, overlooks the the cabernet sauvignon vines.
Constructed from cedar wood over a single level, the home can be a country residence, holiday getaway or, in its current form, as short-stay accommodation. The brewery, restaurant and cellar door have long-term tenancies in place.
The leased brewery, cellar door, vineyard and homestead return a rental income of $445,000 a year. The land is zoned for viticulture and tourism.
Owner Murray Burton, who bought the property seven years ago, says the property was initially mooted as a cellar door to promote Ferngrove’s Killerby label, but after further consideration his family decided to establish the brewery, which his son now runs.
“I set up Ferngrove Vineyards back in 1998 in Frankland River but we wanted a site in Margaret River so we looked around and found that particular site,” he was cited as saying in an article in www.realcommercial.com.au.
“We wanted to go down the path of establishing a cellar door but had to think a little bit wider than just a cellar door, so that’s where the brewery came in,” Burton says.
The property has great potential for more short-stay accommodation and tourist attractions, Burton said
Listing agent Phil Melville of CBRE said it would make a solid investment for someone seeking a change of pace in the south-west.
“It’s in a fabulous part of Margaret River on Caves Road, which is the main tourist strip leading in to the town and it’s only a short distance from the coast,” he said.
Melville is taking offers on the property, which is expected to fetch at least $6 million.