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Today's quote:

Wednesday, June 10, 2020

Can we expect a name change?


My Chinese "friend", who uses www.oldlistings.com.au to find desperate sellers, finally gave up on "Riverbend" and bought The Cottage Point Inn at an (as yet) undisclosed low price.

The owner - described as being 92 years old in this March 2019 article - had been trying to sell it for the last eight years before my Chinese "friend" must've low-balled him an offer he was far too old to refuse.

Motivated Seller -Make an offer!
12 Cottage Point Road, Cottage Point NSW 2084
$4,900,000     1700 m² approx.

Cottage Point Investment Opportunity - Restaurant and House on long lease

The Cottage Point Inn Restaurant, set on the water at the junction of Cowan Waters and Coal & Candle Creek, was originally the boatshed and general store. The building was converted to a restaurant in the 1970s and has been operating since. Set directly behind the restaurant are two separate, fully self-contained apartments or cottages, which are included in the restaurant lease.

- Income of $348,920.00 per annum (inclusive of GST)
- Substantial and wide waterfrontage.
- Floating deep-water pontoon for seaplanes and large boats.
- Office or flat above the restaurant with two rooms and bathroom.
- Two apartments set behind the restaurant. Both with wide 180 degree views of magnificent Cowan Waters and Ku-ring-gai Chase National Park.
- Cottage one:
Cowan Waters Apartment is a self contained apartment with full kitchen facilities, large dining and lounge area, private balcony, separate double bedroom, spa bath and reverse cycle air-conditioning.
- Cottage two:
Riverview Suite is equipped with breakfast bar, private balcony, lounge area, well appointed bathroom & reverse cycle air-conditioning.
- License agreement (sub leased to the restaurant tenant) with National Parks and Wildlife services for the use of the land that sits over the high-water mark.
- Access to the restaurant is by road, boat, ferry or seaplane.

An amazing property! I hope it brings him the sixth happiness he seeks!

Googlemap Riverbend


P.S. Well, my "friend" - very much in inverted commas - really found a desperate seller this time: advertised for sale at $4,900,000, he tossed him a $1-million bone and he swallowed it - click here and here: "Last Sold $1.00M 22 May 2020".