118 Shillabeer Road, Oakbank SA 5243

Dual residences | equestrian centre approved for 21 horses | 11.2 acres with lake | high-spec modern main home This property presents a rare, multi-revenue stream opportunity that fundamentally redefines the typical Oakbank offering. Its core strength is the configured duality of a high-specification family residence and a separate, income-producing cottage, operating on a scale-both in land and built form-unmatched in the suburb. The professionally established equestrian facility with council approval for 21 horses transforms it from a lifestyle holding into a commercially viable enterprise, a feature almost impossible to replicate at this price point in the Adelaide Hills. It serves three distinct buyer profiles simultaneously: the multigenerational family seeking private separation, the serious equestrian business operator, and the investor seeking a high-yield, diversified rural asset with immediate tenancy. The decision pivots on managing operational scale and niche market exposure. The primary risk is the capital and expertise required to maintain the extensive infrastructure-arenas, stables, paddocks, and dual dwellings-which imposes a significant ongoing cost burden beyond standard residential holdings. The commercial logic is clear: the cottage provides defensive income, while the equestrian centre offers substantial upside through training, agistment, or event hosting. Given the asset’s unique configuration and lack of direct comparables, it should be acquired with a business plan, not merely as a residence; it is a hold-and-operate property where passive ownership would fail to capitalize on its engineered potential. Recent sales in Oakbank and nearby underscore the property’s exceptional value proposition. Comparable transactions, such as a 3-bedroom house on 738m² selling for $965,000 and another on 396m² achieving $745,500, establish a local benchmark where standard family homes command near-million-dollar prices on modest plots. This context makes the subject property’s offering-two homes, extensive equestrian facilities, and 11.2 acres-appear strategically priced for its scale, effectively valuing the additional land, income suite, and commercial infrastructure at a significant premium that, while substantial, reflects its unique and irreplaceable character in the market.