The area around the West Australian coastal city of Geraldton is one of the most picturesque in the nation. Now, a six-hectare slice beside the Indian Ocean is promising an eye-watering harvest for investors.
The BIG4 Sunset Beach Holiday Park, just north of the charming regional city, is on the market for $5 million, with Michael Philpott from Tourism Brokers telling Accom Properties it’s yearly profit should soon grow to a staggering $1.38m.
The property is licensed for 191 sites, comprising 134 tourist sites, 20 camp sites and 37 permanent chalets and cabins with a 4-star rating.
“The property has a huge upside,” Mr Philpott said. “The whole area around Geraldton is powering ahead. There is an undersupply of accommodation in the area generally but a lot
of infrastructure going into the place.
“Business is booming there and the Sunset Beach Holiday Park has all the advantages of being part of the Big4 Chain. It is a landmark property at Geraldton.
“Parks like this, in such a prime position, just don’t come on the market and at $5m it is actually priced under market valuation. It is a rare coastal oceanfront gem.
“Anyone who has the ability to get their hands on it will make some serious money.”
The park offers magnificent ocean views and immediate beach-front access in a region recognised as having one of the most pristine coastlines in Australia.
“The property has consistently high tourist traffic,” Mr Philpott said, “and the Crown Lease offers a solid tenure of 30 years running through to November 2051.”
He said the investment, currently run under management, is just waiting for a new lessee/ operator or investor.
“The property is a pleasure to inspect but it might just take a day or two in order to soak up this beautiful environment,” he said.
Current occupancy levels are well over 70%, and the booming Geraldton economy, with large infrastructure projects, is putting pressure on businesses seeking to house workers.
An area behind the Sunset Beach park has recently been developed into 64 serviced sites (water, power, paved road) and a further 17 partially developed sites, and they offer a marvellous opportunity to significantly increase income.
The property also includes a main reception building with adjoining manager’s residence, a swimming pool, jumping pillow, children’s play area, a viewing tower over the ocean, two camp kitchens, two amenities blocks, a games room and adjoining laundry, several storage sheds, a workshop and a works yard.
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The park is 450km north of Perth and is at the heart of the windsurfing capital of Australia with consistent summer breezes.
Geraldton is a vibrant city of 32,000 with cafes, shops, street art, galleries and a fascinating history.
It is home to the HMAS Sydney II Memorial which honours the 645 Australian sailors who lost their lives on the great ship in World War II.
Geraldton is also the gateway to the Houtman Abrolhos Islands 60km away – an archipelago of 122 coral islands with crystal blue waters and an abundance of sea life.
It was there that the ill-fated Dutch ship Batavia was wrecked way back in 1629 and the local museum is packed with historic treasures.
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