765 Eltham-Yarra Glen RoadWatsons Creek VIC 3097
Property Details for 765 Eltham-Yarra Glen Rd, Watsons Creek
Last Listing description (March 2022)
SOLD by Jellis Craig. Undoubtedly one of the most iconic properties in the area, this sound investment boasts multiple income streams and incredible opportunities to further "value add" to the property. Offered for just the second time in 103 years, this property once known as the "Watsons Creek Antique Store and Caf" could well be the lifestyle/investment or business opportunity you have been searching for, with diversified and strong commercial returns currently being netted from the lengthy tenancies in place. Set on a picturesque allotment of approximately 7,789m2, the property's current tenancies include a licensed Caf, a residential 4 bedroom home, a AirBNB and a beautiful art gallery.
Located along the scenic route to the Yarra Valley and just 40 minutes to the CBD, this is the only commercial property between Eltham and Yarra Glen. The incredible position ensures strong retail trade for the tenancies from the passing traffic and has a license to operate 7 days a week.
Ample off-street parking, a number of outdoor sheds, copious amounts of tank water and a water boar, dam and lush gardens complete this compelling opportunity.
Caf: This Fully licensed caf was the original road house and features a large open plan seating area along with an enormous wrap around balcony, outdoor garden seating with views across the creek. An open fire plus split system heating and cooling both internally and externally on the veranda ensures year-round serviceability in the space. Frequently hosting functions and weddings, this space is bursting with character and charm.
Main Residence: This mudbrick masterpiece was built by the Van Eedens, who began operating the property in 1982. Created to provide a welcoming space for the family to retreat too, every detail in the beautiful tri-level home has a story with the 4 bedroom, 2 bathroom configuration showcasing recycled Oregon beams from Echuca, Jarrah floors reclaimed from the Woolsheds of Melbourne's yester year and Ironbark supporting posts from the Darling Harbour wharfs. Zoned bedroom accommodation and a north facing aspect complete the wonderful space.
BNB Accommodation: As if the property were lifted from the pages of a magazine, there is little wonder as to why there is such consistency in the bookings for the BNB. Offering a north facing aspect with views across the inground /solar heated pool toward Watsons Creek, this light-filled, open plan space provides 2 bedrooms, one bedroom with a spectacular Asian style bathroom, large kitchen, meals zone and a beautiful lounge room.
Art Gallery: Purpose built from Rustic second hand timbers, Old warehouse trusses, second-hand galvanised iron the immense ceilings provide an exceptional space for showcasing artworks of all kinds. Below the studio, a large office space with toilet, sink and kitchenette awaits. The ideal space to create the next masterpiece.
A full disclosure statement and information memorandum is available upon request.
Property History for 765 Eltham-Yarra Glen Rd, Watsons Creek, VIC 3097
- 05 Mar 2022Sold for $2,310,000
- 04 Nov 2021Listed for Sale $2,350,000 - $2,550,000
- 29 Jan 2020Listed for Rent $24,000 / year
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About Watsons Creek 3097
The size of Watsons Creek is approximately 1.8 square kilometres. There are 5 parks, covering nearly 10.5% of the total area. The population of Watsons Creek in 2016 was 51 people. By 2021 the population was 58 showing a population growth of 13.7% in the area during that time. The predominant age group in Watsons Creek is 40-49 years. Households in Watsons Creek are primarily couples with children and are likely to be repaying $3000 - $3999 per month on mortgage repayments. In general, people in Watsons Creek work in a managers occupation.In 2021, 61.90% of the homes in Watsons Creek were owner-occupied compared with 53.30% in 2016.
Watsons Creek has 32 properties. Over the last 5 years, Houses in Watsons Creek have seen a 51.14% increase in median value. As at 31 July 2026:
- The median value for Houses in Watsons Creek is $2,337,883 while the median value for Units is $1,133,405.
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