The ongoing trend that is seeing many of Australia’s most beautiful caravan parks – often on absolute beachfront – being put up for sale by longstanding family owners is continuing.
The 328-site Collendina Caravan Park, which sits on 30 hectares at Ocean Grove on Victoria’s famous Surf Coast, is the latest in a long line … and is officially on the market having being owned by the same family for the past 40 years.
JLL Hotels & Hospitality Group has been appointed to sell the property via an Expressions of Interest campaign.
The agency’s management team said that, while the park’s historical profitability had been strong, there was significant scope for further income upside ‘as is’ or through repositioning and expansion.
The company’s Managing Director & Head of Investment Sales, Peter Harper, told the Hotel Conversation publication that there were several different kinds of potential buyers out there, and therefore different possible futures for the site.
“The caravan park sector has become increasingly institutionalised over the past few years with groups deploying or raising significant volumes of capital for acquisitions and asset enhancement,” he said. “Collendina will no doubt be keenly contested by such investors, but also smaller funds, caravan park operators, land bankers and high-net-worth investors attracted by the property’s strong underlying fundamentals and passive income profile.”
Located just 90 minutes from Melbourne and 30 minutes from Geelong, the park has some great facilities including two swimming pools, two tennis courts, a nine-hole golf course, and a café.
Access to the adjacent surf beach is via a ‘private’ beach track from the caravan park over the sand dunes.
The Hotel Conversation reports that Bill and Joan Steains have been the owners of the Collendina Caravan Park for the past four decades.
“We feel lucky to have had the opportunity to develop Collendina into one of the most popular family caravan parks on the coast and we value the relationships we’ve established with so many wonderful families along the way,” they said. “It’s with considerable sadness that we’ve taken the decision to move on – but, at the same time, we’re excited to open up the opportunity for someone else to come in with fresh energy and new ideas for our beautiful ocean front property.”
Expressions of Interest for Collendina Caravan Park close on March 31, 2022.
More and more of Australia’s most scenic parks have been going under the hammer in recent years. Earlier this month, the NRMA Agnes Water Holiday Park, an iconic beachfront caravan park in Queensland was put on the market, with an expected price tag of more than $25 million!
$400/night for a luxury beachfront apartment or $40/night for a caravan site.
It’s a no brainer which way investors will jump.
Look at what happened to the Sunshine Coast QLD.
Why would Grey Nomads complain about another Caravan Park closing. They state they don’t use them because they are too expensive etc. Plenty more will go the same way but listen to them whinge when this happens.
At a time when all a lot of australians are
going back to holidaying in their own country and the massive boom of caravan
& camping has taken hold of us the greedy
Park owners are selling off the iconic
Caravan parks.
Local councils should zone the land so
It can’t be bulldozed and turned into suburbs.
After all the campers bring money to the
Whole area.
Dismal ‘state of affairs. Just utter greedy property developers but Councils cant fight them as they have lots of money and sway in court.. People need houses!!! Well everyone needs a spot where there aren’t any houses. South Coast is experiencing huge housing developments, but communities don’t have much sway in limiting what is planned in their area ie apartment blocks. it will be like living in the city suburbs which we escaped from.
To Geoff. The reason grey nomads don’t use caravan parks is we are subjected to paying for jumping pillows & water parks we will never use. Whatever happen to the user-pay system? Then parks are crowding out powered sites with condominium sized “cabins”. If that still doesn’t satisfy caravan park owners they go grizzling to the local council to close down any free camps within 100km. So, where do you want us to go? The outback looks good, far away from screaming uncontrolled kids.