Licensed for 205 sites and currently utilising 191 on 4.04 ha of land, the buyer of the family-owned park is Sydney investment fund Equinox Group. This is their seventh tourist park acquisition.
A sales campaign for the site, in the coastal city 70km south of Perth’s CBD, attracted over 60 direct enquiries from a range of operators, investors, and developers, according to Knight Frank‘s Cory Dell’Olio.
“The market for mixed-use caravan parks from owner-operators, investors and larger accommodation groups is strong,” he said.
“These assets have maintained steady returns, even in softer economic times, due to the ongoing demand for affordable accommodation from tourists, retirees, and short-stay labour force.”
Equinox director Brett Summers is a veteran of Lendlease and Aspen. The group states it seeks affordable housing investments.
The site has a development guide plan valid to August 2030 for a mixed-use project including multilevel apartments and a neighbourhood shopping centre and is divided into 11 separate land titles providing flexibility for future development into staged parcels.
The SOURCE: Equinox will need to renovate Mandurah Coastal Holiday Park
