FEBRUARY 2022

Owners 'sad' to sell

Collendina caravan park up for sale

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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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