Rare riverfront cafe and marina on picturesque NSW coast for sale

The lease for a scenic riverside cafe and marina in northern NSW is on the market, with buyers attracted to the potential growth it offers.

The rare crown land site in Dunbogan, 30km south of Port Macquarie on NSW’s mid-north coast, has attracted buyers keen to expand its ten-berth wharf, marina and renovated 1940s cafe.

The Dunbogan Boat Shed Cafe and Marina’s unique position on the banks of the Camden Haven River, a few kilometres from local beaches and coastal towns, is also appealing to buyers.

Percival Property Port Macquarie sales agent Martin Newell said the cafe was the only riverside commercial property in the Camden Haven region, bar one privately-owned hotel in Port Macquarie.

Dunbogan Boat Shed, however, is going to market as a 25-year leasehold going concern.

“This property is a destination venue,” Mr Newell said.

“Cafes are a dime a dozen but they haven’t got the drawcard of the Boat Shed’s location.”

Multiple future opportunities

Mr Newell said he’d received strong feedback for a sale between $1 million-$1.2 million, with interest coming from two different groups including those looking to expand the marina and wharf and increase its already high passive income.

The cafe comes with two separate buildings and features inside and outdoor space for up to 50 customers. Picture: realcommercial.com.au/for-sale

“You could double the number of swing moorings in the river to 20 and expand the wharf to 20 berths,” Mr Newell said.

“If you did this, you could also expand your passive income … while still getting a good return from the cafe.”

The second group of buyers were those looking at the cafe’s potential for change and included some “major” restaurateurs who appreciated the rare riverside location.

The majority of both groups are from Sydney with some local inquiries received as well.

Adding to the cafe’s appeal is its recent renovation by the current owners, a Newcastle woman and her son, who lived in the US until recently and is now returning there, hence the decision to sell the property.

While he couldn’t disclose the property’s exact annual turnover, Mr Newell explained that the 25-year leasehold would cost the new owners just $8,000 plus GST per year with rent from the marina and wharf moorings bringing in an extra $35,000-$40,000 annually.

However, the expansion of the wharf or the construction of a restaurant with a commercial kitchen, or similar proposition, are subject to an approved development application.

Tourists returning to the region

Another point of interest to the cafe is the region’s strong tourism industry, which has benefitted from the increase in domestic tourism bought on by the pandemic.

According to Tourism Research Australia’s National Visitor Survey, NSW’s north coast was one of the most visited regions in Australia in 2021.

Domestic overnight travel expenditure in the area increased by 13% to $3.4 billion and while domestic overnight trips increased only slightly [0.4%], these still amounted to 4.3 million travellers – mainly from NSW – spending time on the state’s north coast.

The wide decks offer the ideal space for relaxing with a refreshment. Picture: realcommercial.com.au/for-sale

Mr Newell agreed that the number of visitors to the Port Macquarie-Hastings region was steadily increasing with Easter in particular seeing a massive uptake in crowds.

“I’m a long-term local and this Easter was one of the busiest I’ve ever seen – there were people everywhere,” he said.

One Agency North Haven director, Gaven Whalley, who sold the boat shed cafe in 2016 for $420,000, said even the pandemic along with 2021 floods hadn’t slowed visitor numbers.

“We’re just four hours from Sydney so it’s an easy drive and people love the waterways around here,” Mr Whalley said.

NSW Tourism Industry Council executive manager Greg Binskin said hospitality businesses such as the Boat Shed Cafe satisfied the pent-up demand from travellers who were keen to get out again and reconnect with family and friends.

“Sitting in a cafe or a restaurant is the ideal opportunity to reconnect,” he said.

The cafe includes a 10-berth wharf and 10 swing moorings in the river, which could be expanded to twice this number. Picture: realcommercial.com.au/for-sale

Mr Binskin added that tourists always appreciated a reason to visit an area, hosting popular local events such as Port Macquarie’s Ironman triathlon held every year in May.

Such events also assisted local businesses like the Boat Shed Cafe, he said.

“Businesses like this serve as part of the overall mix of such events and they benefit from bringing foot traffic to a town,” he said.

Mr Newell concurred, saying that the recent Iroman event resulted in all accommodation in Port Macquarie being fully booked out.

Mr Whalley added that the local property market had also performed well in recent years.

“I’ve sold more houses in the past two years than I’ve sold in the 20 years I’ve been working here,” Mr Whalley said.