An iconic beachfront caravan park in Queensland is on the market, with an expected price tag of more than $25 million!
The 37,500sq m NRMA Agnes Water Holiday Park boasts caravan sites, cabins and campsites across 133 lots and is described by agents as ‘exceptional’.
CBRE Hotels’ agent Paul Fraser said it would be expected to attract interest from domestic and international investors looking for land banking and capital growth opportunities in the coastal town.
“To have such a significant lot size on absolute beachfront in Agnes Water is unheralded,” Mr Fraser told the Urban Developer publication. “To then have this incredible parcel of real estate tenanted by one of Australia’s largest and most successful park operators leads us to believe this asset will demand widespread appeal from a national and international market.”
Price expectations have been put at between $25 million and $30 million.
Agnes Water is the closest access point to the Southern Great Barrier Reef and has experienced tourism growth of more than 100% year-on-year since the onset of the pandemic.
There is substantial development in the wings for the town with a 30.6ha development, including retail and commercial properties, planned as well as a $1-million upgrade to the road between Agnes Water and 1770.
CBRE Asia Pacific director Dillon Murphy said Agnes Water would continue to attract tourists as borders reopened.
“This, coupled with the secure long-term lease to a nationally recognised tenant, will provide a forward-thinking investor with a long-term income stream and high capital growth potential,” Mr Murphy told Urban Developer.
The NRMA Agnes Water Holiday Park will be sold via an expression of interest campaign due to close on March 10.
It becomes the latest in a string of caravan parks to go market as institutional investors look to capitalise on the alternative asset class, traditionally favoured by mum-and-dad investors.
Urban Developer reports there were more than 100 leisure parks listed for sale at the end of 2021 as owners looked to cash-in on the capital being deployed to the sector.
So NRMA bought the caravan parks to close them & sell them to real estate developers? Lovely…
Now known as Ingenia Holiday Park Queenscliff Previously Beacon was recently sold for approximately $37,000,000
There are very little camping and caravan parks near the sea in New Zealand. Now all holiday homes for the rich. This is the way OZ is going!
We try to avoid caravan parks as much as possible.
When will the obsession stop with people wanting to own overpriced land.
$25mill…….for less than 10 acres!!!