Manenti Quinlan & Associates are pleased to announce the successful sale of the freehold going concern of the Riverside Cabin & Van Park, Muswellbrook. The sale was managed by Directors Ray Larkin and Malcolm Mathie of Motel Sales, Manenti Quinlan & Associates.
The Riverside Cabin & Van Park is located on the banks of the Hunter River, a short walk from the Services Club and close to all the town amenities.
The property was sold by Blue Heeler Hospitality Pty Ltd to Mr & Mrs Farooq Sufi and family who have other hospitality property in New South Wales. The property was sold by Mr Ray Larkin and Mr Malcolm Mathie, Directors of MQ & Associates Pty Ltd with a price guide of $2,000,000.
Mr Larkin advised that the park presents as a 3 star property with mainly worker accommodation for the local mining industry.
The property is on 13,724m2 plus adjoining house with 1,764m2. The Riverside Cabin & Van Park has 42 licenced sites. It was sold with 38 cabins on site plus amenities block and laundry.
The new owners intend to upgrade the park with repainting and refurbishment of the cabins.
Demand for this style of accommodation from both workers and travellers, in the Hunter Valley is extremely strong.
Mr Larkin advised that MQ received over 200 enquiries for the park with the sale being negotiated very quickly. Settlement took time so as to satisfy some council requirements.
We wish the Sufi Family all the best with their new venture.
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