Oceanfront caravan parks in coastal hotspots hit the market

Oceanfront caravan parks in the popular Victorian surf town of Ocean Grove and Queensland coastal town of Agnes Water are expected to attract strong buyer interest.

The long-time owners are selling the Collendina Caravan Park on Victoria’s famous surf coast, while the NRMA Agnes Water Holiday Park on Queensland’s northernmost surf beach is also on the market.

The Collendina Caravan Park occupies a 30-hectare freehold oceanfront site, with 328 sites, two swimming pools, two tennis courts, a football oval, basketball court and a nine-hole golf course.

Bill and Joan Steains have decided to move on after owning the Ocean Grove park for almost 40 years.

“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 oceanfront property.”

The family who have owned the Collendina Caravan Park for almost 40 years have decided to sell. Picture: realcommercial.com.au/for-sale

The park, which is being marketed by JLL, has a track over sand dunes to a surf beach.

“Given all that the property offers and it being at the gateway to the Surf Coast with its numerous attractions and major events, Collendina has always been in exceptionally strong demand,” JLL Hotels & Hospitality Group vice president Nick MacFie said.

“Historical profitability has been strong, yet there is significant scope for further income upside ‘as is’ or through repositioning and expansion.”

JLL Hotels & Hospitality Group managing director Peter Harper expects Collendina will attract strong interest from institutional and private investors as well as caravan park operators.

“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,” Mr Harper 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.”

The NRMA Agnes Water Holiday Park is for sale at a time of rising demand for Queensland leisure assets. Picture: realcommercial.com.au/for-sale

The NRMA Agnes Water Holiday Park is also expected to attract strong interest amid rising demand for Queensland leisure assets from domestic and international investors.

The CBRE agents selling the freehold interest in the Gladstone region property described it as one of Queensland’s best caravan parks.

The park sits on a large 35,700sqm block on the beachfront at Agnes Water, with caravan and camping sites, cabins and villas on a total of 133 lots. The caravan park is operated by NRMA Parks and Resorts on a 35-year lease.

CBRE Hotels national director Paul Fraser said to have such a significant lot size on absolute beachfront in Agnes Water was unheralded.

“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,” Mr Fraser said.

The beachfront caravan park in Agnes Water is expected to attract national and international interest. Picture: realcommercial.com.au/for-sale

Mr Fraser said Agnes Water was becoming one of Queensland’s most recognised and popular tourism destinations, recording tourism growth of more than 100% year-on-year since the onset of COVID-19.

The town was also undergoing significant development as tourists and long-term residents flocked to the region, with CBRE director Dillon Murphy expecting tourism to increase further with the reopening of Australia’s international border.

“As Queensland’s most northern surfing beach and as the gateway to the Great Barrier Reef, Agnes Water will continue to attract tourists as borders reopen,” Mr Murphy said.

“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.”