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Owners 'sad' to sell
Collendina caravan park
up for sale
![Collendina Caravan Park](collendina.jpg)
Have your say
The 328-site, 30 hectare Collendina Caravan
Park on Victoria's famous Surf Coast is on the market.
JLL Hotels & Hospitality Group's Nick MacFie and Peter Harper have been
appointed as exclusive agents to sell the property via an Expressions of
Interest campaign.
Situated just 1.5 hours from Melbourne and 30 minutes from Geelong, the
park occupies an incredible 30-hectare freehold ocean front site.
It offers two swimming pools, two tennis courts, full size football oval,
basketball court, nine-hole golf course, indoor play centre and café.
The park has a "private" beach track from the caravan park over the sand
dunes.
"Given all that the property offers and it being at the gateway to the
Surf Coast with its numerous attractions and major events, Collendina has
always been in exceptionally strong demand," vice president Nick MacFie
said.
"Historical profitability has been strong, yet there is significant scope
for further income upside as is or through repositioning and expansion."
Owners of the park for almost 40 years, Bill and
Joan Steains said they felt lucky to have had the opportunity to develop
Collendina into one of the most popular family caravan parks on the coast.
"We value the relationships we've established with so many wonderful
families along the way," they said.
"It's with considerable sadness that we've taken the decision to move on
but, at the same time, we're excited to open up the opportunity for
someone else to come in with fresh energy and new ideas for our beautiful
ocean front property."
Managing director and head of investment sales Peter Harper said the
caravan park sector had become increasingly institutionalised over the
past few years with groups deploying or raising significant volumes of
capital for acquisitions and asset enhancement.
"Collendina will no doubt be keenly contested by such investors, but also
smaller funds, caravan park operators, land bankers and high-net-worth
investors attracted by the property's strong underlying fundamentals and
passive income profile," he added.
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permission of Dennis Amor.
Copyright 2005
Dennis Amor All Rights Reserved
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