An exceptional investment delivering close to a gross 12% return, this landmark Colac property comprises 22 fully compliant units, a main residence and caretaker’s quarters, set on five acres (approx.) near Lake Colac. All units are leased on twelve-month agreements averaging $330 per week, with a extensive waiting list ensuring 100% occupancy. With an on-site caretaker for over 11 years, it is one of the region’s most stable and efficiently run accommodation enterprises, offering outstanding potential for future development (STCA).
Each unit includes a kitchenette, living area, bedroom and bathroom, most enjoying tranquil lake or rural views. Leases include all utilities.
The main residence features a three-bedroom, two-bathroom spacious Airbnb upstairs and a one-bedroom self-contained caretaker’s residence downstairs. The Airbnb , with superhost status operates at around 60% occupancy (approx.), averaging $270 per night, and captures sweeping lake and rural views. The open-plan living area features polished floors, a well-appointed kitchen, and quality appliances. The master suite includes a sitting area, walk-in robe, and fully tiled ensuite with separate bath and shower, while two further bedrooms share a family bathroom and laundry.
The lower level serves as the caretaker’s accommodation, offering a large office, bedroom, kitchen, lounge, and bathroom—providing flexibility for continued on-site management or conversion to additional rental income.
Additional revenue streams include coin-operated laundry, while a 40kW solar system and several heat pumps greatly reduce energy costs. Zoned Rural Activity Zone, the property offers broad development potential (STCA) - whether expanding existing accommodation, adding self-contained units, or diversifying into tourism or hospitality.
Located moments from Lake Colac, Princes Highway and the Botanic Gardens, the property provides convenient access to Colac’s town centre, Geelong, and major regional employers. The location is also an easy drive from the Great Ocean Road and globally visited attractions. With consistent returns, full occupancy and future growth potential, this is a secure and high-performing investment opportunity.
Contact the Jellis Craig team today to arrange your private inspection and secure this proven performer with exceptional upside.
DISCLAIMER: Please note that all information provided by Jellis Craig is in good faith and derived from sources believed to be accurate and current at the date of publication. Jellis Craig acts as a conduit for this information and advises prospective purchasers to conduct their own inquiries. Jellis Craig will not be liable for any loss resulting from actions or decisions made in reliance on the provided information.
