In its 124 year history it has had just two owners, and now you have the opportunity to put your own spin on the iconic Coonawarra homestead Balragon.
And possibly for less than half of Adelaide’s current average price.
Built in 1901 for the famous McGillivray family – who hold an important place in the history of Penola and the surrounding district – and originally part of the historic and extensive Maaoupe Park estate, the property and surrounding land remained in the family until 2020.
Selling agent Mark De Garis of TDC Livestock & Property, who is selling the house with fellow agent Karly Honner, said the current owner had changed his plans for the property, giving someone the opportunity to breathe new life into the once grand limestone abode.
“It was bought as a larger rural section and always under private title and the owners had plans to make it their main home and have since decided to do something different so they are retaining the arable land around it and selling the house and giving someone else the chance to bring it back to life,” he said.
281 Lynch Road, Coonawarra.
![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
“The McGillivray family owned numerous farms in the area and built a home for each of the brothers and this is one of the few remaining.
“It has no facilities in the sense of a bathroom or kitchen, so you basically have a living space that you can build on however you want and bring it back to life.
“Originally there was a lean-to attached to it that housed the kitchen and bathroom, as they used to do – and that was removed and the house returned to its stone shell.
“The masonry is A1. It is protected against the elements. The woodwork on the outside needs some love, but that is really only cosmetic.
MORE NEWS:
Australia’s home loan record of $660,000 is forcing first-home buyers to reconsider
The statistic that should terrify all homeowners
Southern Ocean Lodge link to Adelaide development revealed
Shocking result as the council forcibly sells 57 properties to recoup unpaid rates
How much did this £100 Adelaide house just sell for?
How a simple change in the supermarket can get you home faster
“We had a builder who said the building was in very good condition for its age.
The online advertisement suggests that, apart from a major house renovation, the property could become a great cellar door or restaurant, boutique accommodation or a “regional visitor experience celebrating the history, products and landscapes of Coonawarra and the Limestone Coast”.
“I would say this would be a home,” Mr De Garis said.
“There is value in it and the range we’re quoting is between $400,000 and $440,000 because if people want to make a significant investment in it, there still has to be value for them.
The original interior of the house.
Give your touch to a classic.
“Given the average price of Adelaide, there are people now who probably have that in their back pocket, and by the time you spend about $600,000 on it, it will be a beautiful house.
Mr De Garis said the area’s property market had impressed, buoyed by its proximity to the South Africa-Victoria border.
“The South East is performing very strongly and has the great advantage of being close to Victoria and everyone wants to get out of Victoria, so we are reaping the benefits of that, and we are still seeing a lot of inquiries from Adelaide,” he said.
MORE NEWS
How much you need to save to buy in each Australian suburb
How much did this £100 property just sell for?
Block fever causes a mad rush to dilapidated houses
Property on an Aussie island is selling for a bargain, but there’s a catch
“Now that people don’t have to work from an office or a space as much, people are starting to look more for a bit of lifestyle and a bit of regionality. Now that Coonawarra and Penola are where they are, we’re four hours from Adelaide and five hours from Melbourne – we’re ready to reap some of that reward.”
An artist’s impression of one of the bedrooms.
Mr De Garis said interest in the property was high.
“It went up just before Christmas and responses are due in two or three weeks, and it has been one of our largest internet applications for a property.”
Mr De Garis said the property was next to the Coonawarra airstrip, allowing people to fly in and out.
The house has thick walls, high ceilings, a bullnose veranda, high baseboards, a bay window and elegant marble mantels.
It is set on a 5 hectare plot ideal for landscaping or grazing livestock, with the seller willing to negotiate a realignment of boundaries to suit the buyer’s needs.
According to data from PropTrack, metropolitan Adelaide’s average property price is $908,000, while that of regional SA is $489,000.
What the dining room could look like after a renovation.
Imagine if this was your living room.
#124yearold #Balragon #home #hits #market #realestate.com.au