Riverglen Chalets, Margaret River sold for $3 million

A five acre resort, Riverglen Chalets, on the north western fringe of the Margaret River townsite has sold for about $3 million.

Nestled amongst huge karri, marri, jarrah and peppermint trees, the 27 Carters Road, Margaret River property comprises of 14 timber chalets with private verandahs.

It is close to the town centre, supermarkets, cafes and restaurants.

Also located on site is a full sized home which provides residence for management, a 10m x 6m shed and a separate function room with bar, barbeque facilities, games and activity equipment.

The site has the potential for increasing the chalets to 20-25 units.

The asset generates a steady returns.

It was sold by Barry Granville of First National.