Guesthouse

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A Greenwich guesthouse in Sydney’s lower North Shore has sold at a yield of about 5 percent, underpinning the demand for boarding houses.
The 12-room Shore Inn Guesthouse at <a href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-greenwich-501824366" target="_blank">314a Pacific Highway</a> was purchased by a private Sydney-based investor for $1.82 million. 
Located on a 411 sqm landholding, the Shore Inn Guesthouse provides short, medium and long-term stay options over two levels, with four of the rooms including ensuites. 
There is also development potential, with a draft scheme in place to add an additional level with a further four rooms and balcony. If materialised, it is expected to boost the income by up to 50 percent. 
The property, which had been previously listed with four agents for four months, was sold by CBRE’s Toby Silk within four days.
“Investors are drawn to boarding houses due to the flexibility and control they offer on investment. By running the operation’s side, they have control over the property and can maximise the income generated," Silk said. 
The Shore Inn Guesthouse is close to the St Leonards train station, and offers signage exposure to six lanes of traffic on Pacific Highway. 
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Guesthouse in Sydney's North Shore sells for $1.82 million

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Falls House, the Mount Macedon home of the late radio personality Clive Stark and his partner, interior design company boss Geoffrey Stewardson, has been listed for sale.
<a href="http://www.keatings.com.au/view-property/?OID=12446424" target="_blank">The home</a> was built in 1999 by Englehart Homes as a purpose-built boutique guesthouse and conference centre.
It was originally known as the Blue Ridge Inn.
The property was bought by Stark and Stewardson for $1,725,000 in 2009.
They spent around $2.5 million renovating and extending the property with the help of architect Darren Overend.
Falls House now comprises six bedrooms, including two master suites with walk in robes and ensuites, a home theatre, library, music room, home office and a games room. 
Keatings Real Estate agent John Keating is asking $4.95 million.
Stark, who was a radio host on Melbourne's 3LO died in 2017, survived by his partner of five decades, Stewardson the former managing director of high end Melbourne interior designers Riddell Marley.
This article first appeared in The Weekend Australian. 
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