WITH property prices soaring amidst the housing crisis there are two local real estate listings generating some chatter, one which has a lot of space and one that, erm well, doesn’t.

Firstly is the listing of the Youth Hostel Australia (YHA) Coffs Harbour by CBRE Hotel’s Raymond Tran and Hayley Manvell.

Well known and loved by locals it is situated on a 1,361sqm freehold site.

It is centrally located, just 300 metres from Jetty Beach, and close to Coffs Harbour Marina, the main retail shopping precinct, railway station and coach bus terminal.

The site is huge with 25 accommodation rooms, with 92 beds, a mix of shared dormitory style rooms and those offering ensuites, in addition to a two-bedroom manager’s residence, parking and recreational facilities, including a swimming pool.

“Coffs Harbour has weathered the pandemic better than most, with a mix of demand drivers including tourism and agriculture,” Mr Tran said, adding that Coffs Harbour was a popular stopover point and established tourism destination given Sydney and the Gold Coast.

“The YHA dominates its position as the market leader within its competitor set and had a record trading year in 2019.”

The YHA Coffs Harbour is being offered for sale via an Expressions of Interest campaign closing 18 March 2021, unless sold prior,” he said.

Ms Manvell noted, “There is the flexibility to either acquire the asset with vacant possession or retain the YHA branding under an affiliate franchise agreement.

“Alternatively, the site has a favourable zoning, which allows for a variety of alternate uses, including residential, commercial, hotel accommodation, and seniors housing, subject to the relevant planning approvals.”

While the YHA has an abundance of space, the second property currently listed by The Edge is a laneway in the residential area of Coffs Harbour.

The property, Lot F Bonville Street, Coffs Harbour, is a mere 144.8 metre squared parcel of land and zoned residential, is a fully fenced laneway joining Bonville Street to Renshaw Lane.

As to what you could do with the property, listed for sale at $64,000?

The web listing suggests it might be good for storage.

 

By Sandra MOON