Central Coast Mixed-Use Residential Park for Sale by HTL Property

HTL Property has brought to market Tuggerah Shores Home Village, a strong-performing and low-maintenance mixed-use freehold caravan park on the Central Coast of NSW. The exclusive agents, Andrew Jackson, HTL Property National Director and James Carrick, NSW Director expect strong interest for this asset.

“Mixed-use parks with a strong weighting towards permanent residents offering a secure, passive income profile rarely present for sale; and we are pleased to offer this opportunity to the market” advised HTL Property Director, James Carrick.

“There has been a distinct lack of quality assets offered to market in the caravan park sector recently, so we expect Tuggerah Shores Home Village will appropriately pique the interest of existing park investors and new entrants to this popular investment class” Carrick added.

Tuggerah Shores Home Village is a well-established residential village licenced for 73 sites, with the majority operating on a semi-permanent basis and paying a weekly rent. The Property is highly cash generative and the income is extremely predictable and consistent; derived largely from the weekly recurring site rents paid by its occupants.

“We expect broad ranging interest, but this park presents as a great opportunity for a newcomer to the industry given the asset’s size, close proximity to both Sydney and Newcastle; as well as the ease of operation” concluded Carrick.

“Residential parks have become a legitimate and almost standalone asset class within the broader accommodation sector. As investors become aware of the robust investment fundamentals underpinned by large landholdings in strong locations; and reinforced by the ongoing demand for affordable housing, these assets are becoming extremely coveted” advised HTL Property’s National Accommodation Director, Andrew Jackson.

“This impressive park currently generates annual rental income of around $1m, and yet provides plenty of scope for an incoming purchaser to further grow revenues” Jackson advised.

“There exists scope to install additional accommodation within the existing park; and there is also a large portion of the 5.2 hectare landholding that is not currently utilised and may present future expansion opportunities” added Jackson.

“The parks that we are offering for sale are transacting on sharp yields that in many respects defy the recent macro economic challenges. For example the successful sale of Sunstrip Park at Blacksmiths, which is located only a short distance north of this park, sold on a 5.3% yield; settling in January of this year” Jackson advised.

“These assets have proven to be recession proof and highly cash generative, and as a result investors have realised that they compare particularly favourably to most other asset classes” Jackson concluded.

Tuggerah Shores Home Village is being offered for sale via an Expression of Interest Sale campaign managed exclusively by HTL Property and concluding next month.

End.