A wonderful investment opportunity exists in the beautiful village of Candelo at 52 William Street.
Candelo’s Post Office building has been listed for sale with Rod McDonald of Elders Real Estate, Bega. Not only do the numbers stack up as an investment; you will be buying a piece of Candelo history that has been lovingly restored.
Candelo spreads across the slopes of its short, contained river valley, with commercial buildings located either side of the river and residences rising up the slope behind. The historic character of the village is made even stronger by the near absence of late 20th century buildings in the core area.
The Candelo Post Office stands proudly in the main street, as it has since the late 19th Century.
This impressive structure has a long history and the current owners have spent a number of years ensuring it will continue to be a key part of the village landscape for years to come.
As a consequence of the town‘s setting, buildings sit behind and above the ones closer to the river and create something of an amphitheatre, with each side effectively “looking” at the other.
The steeply pitched roofs of the 19th century structures and the dominant gables of the Inter–War houses combine with the exotic vegetation and gardens to create an urban environment that is rare in NSW.
Current owner David Buckley says since he bought the building in 2009, he has replaced the roof, rebuilt one of the external brick chimneys, re-installed period style window frames, and even re-built the (treated pine) front deck in beautiful tongue and groove hardwood.
The building has an interim heritage listing, so requires approval for outside work, however, that’s all been done for you.
David and his wife spent time choosing the heritage colour palette and completely painted the outside, also renewing the concrete boards that enclosed the verandah ends, with excellent timber weatherboards.
The downstairs is taken up by the Candelo Post Office and has a reception area, sorting rooms and currently 210 post boxes.
This area is separately metered from the upstairs apartment. The current Postmaster loves the Candelo community, he says “here everybody just looks after everybody”.
It’s a busy place, with much news passing through the building every day, a real information trading post that was once the home of the Candelo Newspaper. If only the walls could talk.
Upstairs there is a four-bedroom unit with bathroom and sturdy, sunny decks at the front and back of the property. There is a lovely cottage feel throughout, with the tongue and groove walls, neutral wall paint, and large, period sash windows.
The upstairs bathroom has been completely refurbished in period style, with a load of fresh light, bright white paint and striking black and white tiled floor.
The three bedrooms and the light-filled sunroom all open out on to the beautiful verandah, which wraps around the upstairs apartment, enveloping the corner outlook down the main street of Candelo .
Given its size and location, this will always be a popular rental. Alternatively, you could reduce your mortgage by living upstairs whilst downstairs was rented.
At the back of the block there are also two good-sized, secure sheds, loads of lawn and post and rail fencing.
The current owners have been fastidious with maintenance, so you can purchase this property with all confidence in the structure of the building.
With long term commercial tenants downstairs, mid-way through a 3 x 3 x 3 lease, and a reliable residential tenant upstairs, who has been in place since 2014, this is as secure an investment as you will find.
With a gross annual income of over $23,000, this is an excellent way to enter the investment market.
Expecting to fetch $440,000 this property is offered for sale by Elders Real Estate Bega, the listing agent is Rod McDonald. Call to arrange an inspection on 0410 529 517.