Homestead with function centre for sale in town attracting tree changers

A historical homestead with a golf course, restaurant and functions venue is on the market in Gympie where property prices are rising.

Situated in Gympie’s CBD and fronting the Mary River, Gunabul Homestead is one of the town’s main function centres with space for 100 guests and is frequented by council, government and school groups.

Like much of regional Queensland, there has been strong growth in property prices in Gympie during the pandemic thanks largely to the shift to working from home according to CBRE Sunshine Coast director Louisa Blennerhassett.

The current owners are looking to retire and also “want to take advantage of an improving property market” Ms Blennerhassett said.

“In terms of the Gympie market as a whole, it’s had really strong growth in the last two years,” she said.

“So that timing has really coincided with the property boom Australia-wide. But definitely working remotely and all those things, it’s looking like a pretty good place to be.”

The median house price in Gympie in 2019 was $271,250 according to PropertyTrack data yet the current median house price in the area is $365,000.

This makes an established business like Gunabul attractive to those looking to those looking for a lifestyle change according to Ms Blennerhassett.

“I think it would ideally suit a lifestyle mover from NSW or Victoria who wants to come and live in a regional area and grow a really strong business,” Ms Blennerhassett said.

“It’s already operating profitability so they would just walk in and make their own mark on the property.”

Ms Blennerhassett said the opportunities for enjoying it are endless.

“Someone could buy it and live in it. It’s an absolutely beautiful home. They could buy it and return it back to being a family home.

“But I think most likely it will be continued as a functions and weddings space.”

Gympie’s social centre

Previously known as Kitiwah ‘house on the hill’, the homestead was originally built in 1887 for solicitor Francis Isidore Power. The Power family, which included 12 children, often entertained guests and the homestead was viewed as a social centre in the South East Queensland town.

The property is now on the market and offers several income streams. Picture: realcommercial.com.au/for-sale

In its heyday, visitors congregated to play golf while bands played concerts in the rotunda built on the grounds.

The 15.4ha property has been owned by the Snelling family for the past 38 years and offers multiple income streams.

The 18-hole golf course has a pro shop. The homestead is used as a functions and weddings venue, as well as a restaurant.

The property also has three-cabin accommodation with room for expansion, plus machinery and a storage shed with all plant and equipment.

Home’s period features retained

A character home with 13-foot (3.9m) ceilings throughout, Gunabul is a local landmark. The original build featured an Italian marble fireplace with internal leadlight windows and doors, and has retained much of its charm.

“It’s absolutely stunning and has a lot of really quality period architecture and features,” Ms Blennerhassett said.

“It’s been used for functions and weddings for many years. There’s very little else in Gympie in terms of function space.”

The original charm of the historical homestead has been retained. Picture: realcommercial.com.au/for-sale

It is a popular wedding location in the region. There is a commercial kitchen and private dining rooms, as well as picturesque gardens and an arbour for outdoor functions.

“It has a big, beautiful verandah so people often get married within the garden and then they go inside for their drinks and reception,” Ms Blennerhassett said.

Gunabul Homestead was the sixth most viewed property nationally on realestate.com.au for the week ending 4 November.

Rare chance to buy a golf course

The property’s golf course was first constructed in the late 1890s and later redeveloped in 1997 as an 18-hole, par-3 course with driving range and practice green, popular among locals and travellers from Brisbane and the Sunshine Coast.

In addition to being a venue for weddings and receptions, there is an 18-hole golf course on site. Picture: realcommercial.com.au/for-sale

Brisbane District Golf Association secretary Warwick Nicol said golf courses have become increasingly popular during the pandemic.

“In general, golf is in high demand, memberships are up across the state,” Mr Nicol told realcommercial.com.au.

“It’s definitely a sport that has benefitted from COVID with more social golfers getting out and playing.

“It’s extremely rare that a golf course comes up for sale,” Mr Nicol added.

“Ultimately your larger private courses on the Gold Coast come up every now and then but the course you’re talking about is more of a boutique family-run course – very rare.”