WANTED: Elegantly renovated historic guesthouse with established thriving business. Must have creek frontage and be within walking distance of shops. Will pay $2.9 million.
Well-heeled buyers seeking a property fitting the above description may come out in force next month when a historic Bangalow property goes under the hammer.
Purchased in mid-2010 by co-owner and listing agent Nicolette van Wijngaarden, the property has since been renovated and relaunched as the Bangalow Guest House, and the property has certainly moved with the times.
It was once the residence of a doctor who used the now-laundry and car port of the five-bedroom main residence to deliver babies.
Lifetime Bangalow resident Maureen Munday, whose baby brother was born there, remembered visiting it in her childhood in the 1930s and '40s.
Arriving in town by horseback once a week to get supplies with her family, Mrs Munday said the property was still similar in many ways today to what it was then.
"It's always been quiet and lovely, but there was always something going on," she said.
But today the guesthouse with an adjoining guest cottage relies on high-end weddings and off-season overnighters to earn its keep.
And, like many properties in the region, its price has moved with the times as well.
The 0.6ha property sold for just $212,000 in 1993 - $350,000 today adjusted for inflation - but sold for $2.4 million in 2010.
Ms Wijngaarden said some $400,000 was injected into the property after her purchase, including extensive renovation and DA approvals for two additional cottages and a pool.
"We've gone for a casual elegance," Ms van Wijngaarden said. "We've tried to make it feel like a lovely home away from home, in an elegant way.
"We use all local produce, local coffee, muesli, and produce from Charlotte's in Bangalow."
There's even scones and cakes freshly baked every morning by the guesthouse manager.
The 88 Byron St property goes to auction on Friday, August 2 at 11am.
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