Penola at a glance
1,674
People
$452,500
Median sale
$312/wk
Median rent
3.59%
Suburb gross yield
Median sale from 10 recorded sales (last 12 months) — a Districts calculation.
SA › Penola › Riddoch St
4
Bedrooms
2
Bathrooms
0
Car spaces
1,086 m²
Land
Districts View
No upside evidence detected in the data Districts holds for this lot.
No detected risks — but see the checklist: absence of evidence is not an all-clear.
Each line above is labelled. A fact is quoted from the named source, with its date. A calculation is worked out by Districts from those facts — you can check the arithmetic. An interpretation is Districts' opinion of what the evidence means, not a fact, a valuation, or advice. Anything we haven't retrieved yet is marked as missing rather than treated as a pass.
Price evidence
Last sold
No recorded sale price for this property yet.
Local land rate: recorded House sales in Penola (last 5 years) with land size have a median of $346/m² of land (n=41). Districts calculation from recorded sales — not a valuation.
Penola at a glance
1,674
People
$452,500
Median sale
$312/wk
Median rent
3.59%
Suburb gross yield
Median sale from 10 recorded sales (last 12 months) — a Districts calculation.
Planning
Planning data is being calculated
Data unavailable
Source
Planning facts are copied from official government GIS where available. Where an official property PDF exists (VicPlan, PlanBuild), Districts stores and serves that original document. Neither is a planning certificate, survey, or advice.
Site
Terrain has not been calculated for this property yet.
Slope is calculated on a projected metric grid from a public DEM clip of the official parcel. This is not a survey, engineering, or insurance assessment.
Flood exposure has not been retrieved from any source for this property yet. Unknown is not the same as clear.
Bushfire exposure has not been retrieved from any source for this property yet. Unknown is not the same as clear.
Heritage listing has not been retrieved from any source for this property yet. Unknown is not the same as clear.
Records
Events are recorded observations from public listings, kept with their source and date. Missing values are shown as unknown, never estimated.
Capital growth
SAPlanning layers have not been retrieved for this property yet. A suburb median or growth rate is not a reason this particular lot would outperform. Funded catalyst catchments are not loaded. A TOD badge is not this product.
Official flood overlay has not been retrieved (pending). Missing layer is unknown, not “no.” Nearby development applications are not loaded. This lot’s own applications are a separate question.
Rental
No advertised rent is recorded. Suburb median rent $312/week — not this address. An inferred likely-rent range is not shown until official bond series are loaded for this dwelling type and bedrooms. No recorded off-street parking — often a discount versus the suburb median for the same beds.
Current comparable rental listings within 400 m of this lot are not loaded. Nearby development applications are not loaded. This lot’s own applications are a separate question. Supply pressure needs comparable listings near this lot plus a nearby DA pipeline. Neither is loaded. Suburb vacancy or leased-tape days are not this property’s competition.
Yield cannot be shown without both a price and a rent figure. Net yield is not estimated from gross advertising copy. Net yield / holding costs are not estimated outside NSW without inventing land tax.
Verdict
Districts view
Not enough official evidence yet to underwrite this as an investment.
Detail
The same ten questions apply to every property. Missing flood, nearby DAs, achieved rents, or lot geometry is unknown — not “no.”
Do not treat a suburb median, an advertised yield, or a listing score as the case for this lot.
The evidence loaded so far isn't enough on its own to change a buy, offer, or walk-away decision for this property.
Evidence
Districts asks the same ten questions of every property. If one shows as unknown, that data isn't published for this state or hasn't been loaded yet — the question stays visible so you can see exactly what's missing.
1 of 10 questions answered so far
Development optionality of this lot
UnknownPlanning layers have not been retrieved for this property yet.
Nearby development pipeline
UnknownNearby development applications are not loaded. This lot’s own applications are a separate question.
Honest achievable rent
KnownlowThis is not “bond data says this address leases for $X.” The comparable figure is a suburb advertised/median rent, not this property. Official bond files (postcode or suburb × type × bedrooms) are not loaded yet.
Rental supply pressure
UnknownSupply pressure needs comparable listings near this lot plus a nearby DA pipeline. Neither is loaded.
Why is this cheap?
UnknownThe constraint stack has not been retrieved for this lot, so Districts cannot explain a discount versus land size.
Lot-level flood
UnknownOfficial flood overlay has not been retrieved (pending). Missing layer is unknown, not “no.”
Catalyst exposure
UnknownFunded catalyst catchments are not loaded. A TOD badge is not this product.
This lot's DA history
UnknownDevelopment applications have not been queried for this parcel.
Statutory land value versus ask
UnknownStatutory land value is not available as free bulk data in this jurisdiction. Do not fake it with a suburb median.
Net yield / holding costs
UnknownNet yield / holding costs are not estimated outside NSW without inventing land tax.
Area
Penola at a glance
1,674
People
$452,500
Median sale
$312/wk
Median rent
3.59%
Suburb gross yield
Median sale from 10 recorded sales (last 12 months) — a Districts calculation.
Listing material
Listed by Ray White Mt GambierRay White Mt Gambier is pleased to present 58 Riddoch Street, Penola, for sale. A property unlike any other - the historical Cobb & Co Booking Office is on the market. It awaits a visionary buyer with the imagination and enthusiasm to bring history back to life, this residential conversion is a first for this landmark property. Sitting on the edge of the world-renowned Coonawarra wine district, the property has delivered culinary delights to locals and tourists for over a century. The stone building was built in 1857 and used as a cheese and butter factory. It retains significant character artefacts in homage to its humble beginnings.
The adjoining Tregenza Gallery, built in 1920, has been a source of inspiration and community- utilised as a gallery, tea rooms, a restaurant, and more recently as the manufacturing hub for Outback Pride. The two heritage-listed buildings share an updated main roof, with a central corridor leading from the front veranda to the rear garden and alfresco dining area. Separate male and female toilets and a laundry room with a shower sit at the back of a central section adjoining the original building. This contemporary area boasts an HACCP-accredited commercial kitchen and a cool room, and it is conveniently accessible from three entrances.
The appeal and intent of the Planning Consent, is to seize the opportunity to create a residence within Cobb & Co and Tregenza Gallery which can accommodate a residential design that is completely sympathetic and in harmony with the heritage buildings. Create new possibilities for a low cost housing solution.
The new possibilities for a cellar door serving local wine and produce is a tempting choice for its next chapter - though the possibilities are limited only by the scope of your dream project. Planning consents are in place to convert this to a residential property and local and state heritage bodies have approved stunning plans for a character home.
Combine a love of food and wine with a historically significant residence, or explore the many options, guest accommodation, a health and wellbeing retreat, treatment rooms or artist's space. If you're a farmer or live rural and looking to make the township move, this property provides endless renovation possibilities and a place to call home!
Sitting near the Mary MacKillop Centre and the Penola/Coonawarra Visitor Information Centre - the property is ideally located for tourism pursuits, wine tastings and high-end BnB ventures. Situated in the cultural heart of Penola, winning Agricultural Town of The Year. The architecture is delightful, with gambrel-style interior timber ceilings in the original building, which also features a front-facing office/bedroom, original timber floors, and a spacious, open-plan room with reverse-cycle air conditioning, white timber and stone walls and charming pendant lighting. It leads to a generous rear-facing open-plan space that accesses the kitchen and a rear deck that follows around to an open central pergola and the Tregenza Gallery.
The gallery features an open-plan dwelling with dual ceiling fans, exposed timber beams, reverse cycle air-conditioning and a kitchenette. It sits directly across from the second entry to the kitchen. It opens onto an endearing front veranda - perfect for enjoying a cuppa or a glass of the region's finest.
The building sits on over 1000m2 of stunning land with landscaped grassed gardens, parking, a rainwater tank and a transportable dry storeroom. It benefits from a corner allotment with rear access from Portland Street and is fully enclosed by a charming picket fence. This spacious garden has the possibility for a new building, extensions, and a garage.
This property offers a unique blend of renovation potential and heritage charm, making it ideal for those with a vision. With planning consent already in place, there is potential to convert this space from commercial to residential. The heritage of the building adds an extra layer of appeal: while it must remain original, embracing and enhancing the historic elements provides an opportunity to create a home that celebrates its past.
Historic buildings are the heartbeat of Penola and are rarely offered for sale. Acquire a charming piece of the Coonawarra and write a new chapter for future generations to explore, enjoy and cultivate.
Contact Karyn at Ray White Mt Gambier for friendly, expert advice, and learn more about this incredible, life-changing possibility today. RLA 291953
Additional Property Information:
Age/ Built: 1857
Land Size: 1,086 m²
Council Rates: Approx. $609 per quarter.
Listing description written by Karyn Prelc, Ray White Mt Gambier — reproduced as published, not verified by Districts.