Sydney, 26 May 2016 – A private buyer has secured a foothold in the caravan park market, after recently acquiring the Woronora Village Tourist Park south of Sydney for $6.75 million.
Located in the Sutherland Shire region - only 20 minutes from Sydney Airport and about 30km from the CBD - the Woronora Village Tourist Park comprises 67 sites on a 9,017sqm landholding.
The established property benefits from close proximity to the region’s four national parks, including Australia’s oldest park, The Royal National Park, which boasts 11km of pristine beaches.
The Woronora Village Tourist Park, located at 1 Menai Road, generates an annual income of approximately $600,000.
CBRE Hotels’ Andrew Jackson negotiated the deal on behalf of Mona Enterprises Pty Limited, with the sale representing an initial yield of 9.31% and site rate of $98,881.
Mr Jackson said the sale result was evidence of the strong demand for accommodation assets in New South Wales.
“Tourist and mixed use parks providing permanent accommodation options such as Woronora Village Tourist Park are well sought after in the current market,” Mr Jackson explained.
“The recent intensified demand for these assets over the past 24 months has resulted in consistent yield compression over the period. We don’t expect this to abate in the medium term as new entrants to the sector begin to compete with traditional buyers – such as was the case with this transaction.”
The Woronora Village Tourist Park also includes a three bedroom manager’s residence, park office, amenity block and extensive grounds.
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