A family-owned caravan park on the New South Wales Central Coast has been listed for sale … and the expected selling price is an eye-watering one!
The Blue Bay Camping & Caravan Park is nestled between The Entrance and Toowoon Bay on a peninsula between Tuggerah Lake and the Pacific Ocean.
It has long been popular with grey nomads.
The 5,424sqm parcel, which is just one block down from the beach, spans across seven residential lots.
Selling agent Craig Fisher from Di Jones Central Coast told news.com.au that each of the seven lots had a land value of more than $2.5m, bringing the total value to at least $20m.
Another coastal van park is on the sale .. with a hefty price tag. PIC: Pexels
But buyers could be willing to ‘pay a premium’ for a parcel that size in proximity to the beach, which was a rare find for the region, he said.
Mr Fisher told news.com.au that the site would appeal to buyers looking to park money in a cashflow-producing asset, as well as developers looking to build medium density dwellings or houses.
He said he had received 65 inquiries from potential buyers within 48 hours of listing the property.
The park is licensed for 48 powered sites and also includes a playground, camp kitchen, a manager’s residence, and games room with workshop.
News.com.au reports the land was originally a tomato farm and was purchased by the owners about 60 years ago before being converted into a caravan park and camping ground.
If the ”free camping” boom continues expect more caravan parks to be sold & turned into apartments by developers. It’s a sign of the times.
Caravan costs going up and many have told us that’s why they are set up for free camping.
The problem is state government greed with land tax is killing privately owned caravan parks, this will eventually kill off the caravan industry. We will be under complete duress if councils off load their caravan parks. This is due to short sighted state governments lad tax, the tourist industry will start to crumble
If parks have a certain number of permanents,in some states the land tax is much less or nil. Permanents give income when weather is lousy.