Private buyer rolls into caravan market with $6.75m purchase south of Sydney
A private buyer has splashed out $6.75 million for the Woronora Village Tourist Park in the Sutherland Shire, south of Sydney.
Twenty minutes from the airport, the 9017-square-metre caravan park at 1 Menai Road has 67 sites and includes a three-bedroom manager’s residence, park office and an amenity block.
It generates an annual rent income of about $600,000.
CBRE Hotels’ Andrew Jackson negotiated the deal for Mona Enterprises Pty Limited on an initial yield of 9.31 per cent.
Mr Jackson said the sale result was evidence of the strong demand for accommodation assets in NSW.
“Tourist and mixed use parks providing permanent accommodation options such as Woronora Village Tourist Park are well sought after in the current market,” he said.
“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.”
