A WELLNESS retreat in Hunter valley wine country has sold just shy of its asking price five months after hitting the market with a guide of $4 million.
The Wellness Farm, set on 37 acres at 130 Hill Street, Broke was sold in late February for $3.9 million after an expressions of interest campaign with Cain Beckett at Jurd's Real Estate.
Mr Beckett said the property was purchased by a young family from Maitland who plans to continue running it as a wellness retreat with the addition of wedding facilities.
"The buyer was a family from Maitland and a lot of what we are seeing lately is young women taking on properties like this,' Mr Beckett said.
"The buyer plans to run it as The Wellness Farm but they also want to make some changes to turn it into a wedding space as well."
The agent said the listing attracted hundreds of enquiries.
"It had significant interest because it was so photogenic but in terms of enquiry there were hundreds," he said.
"Almost all of it was Sydney-based."
Mr Beckett said lifestyle properties in the region typically appealed to Sydney buyers however, there had been a noticeable shift in buyers from the Hunter.
It was the second lifestyle property Mr Beckett sold in the area in recent weeks.
The agent sold Lovedale's Leaves & Fishes off-market, which also went to a young local family from Maitland.
The price was undisclosed.
Mr Beckett said the new owner plans to add to the property's accommodation, cafe, restaurant and functions to create a destination venue with more offerings such as retail, food and wine.
"I think these lifestyle properties make sense for families with young children wanting to have a business that gives them a bit of flexibility and also a lifestyle," he said.
"It's a reasonably strong buy-in for most of them but if you can afford to do it, it's a fantastic option."
The Wellness Farm was the creation of former Central Coast couple Simon and Rachel Hoskings who purchased the property, which previously operated as the Lakehouse Guest Villas, in November 2021 for $2.95 million.
After less than a year in business, the couple put the property and the business on the market to move their family back closer to the coast.
The couple transformed the existing accommodation into a first-class wellness retreat that opened in early 2022 featuring facilities including cedar hot tubs, magnesium float tanks, ice baths and a barrel sauna.
In addition to the wellness centre facilities, the property included a five-bedroom Prairie-style homestead, a three-bedroom Hamptons-style cottage, six one-bedroom self-contained villas and a lakehouse studio that opens directly onto the water.
Each of the six villas offered king beds, kitchenette, a lounge, a full bathroom (two with spas) and a private patio.
The property also featured a newly constructed wellness shed with a gymnasium, magnesium float tanks and pilates reformer machines.
The site also featured an inground pool and established shade trees.
