Riverside Roadhouse 116km south east of Perth listed for sale
Colliers International appointed to sell well-known Bannister roadhouse
A popular country roadhouse on Albany Highway has been listed for sale as a going concern through Colliers International with an asking price of $1.7 million.
The Riverside Roadhouse in the Wheatbelt town of North Bannister will be sold by Tim Scott and Shane Isaacs who said there was strong investment demand for securely leased properties that provide a good return.
“This roadhouse has been the stopping point for generations of people travelling to destinations between Perth and Albany and with a six-year lease and a five-year renewal option to the roadhouse operator, we expect a number of investors will be keen to add this property to their portfolios,” Mr Scott said.
“The roadhouse includes a petrol station, a cafe and retail space with a well-known bakery that services travellers and the local community.”
The first building on the roadhouse site, which is 116km south east of Perth, was constructed around 1870 and the current buildings were added in the 1970s.
Mr Scott said the roadhouse was leased for $131,127 per annum and the tenant was hoping to expand with assistance from the new owners.
“The roadhouse occupies a 6,302sqm site which also offers the value-add opportunity of a future redevelopment,” he said.