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1032cpl - Beachfront Lifestyle Package - Huge Upside Strong Cashflow For Sale

Geraldton, Western Australia, Australia
Asking Price:
LEASEHOLD $5,000,000 (AUD)
Sales Revenue:
Available on request
Cash Flow:
Available on request

- Rare Coastal Oceanfront Gem currently licensed for a total of 139 sites plus 39 chalets and cabins.

- Ability to add $459,264 per year taking the Net well over $1.23M and additional opportunities for more.

- Holiday Park offers magnificent coastal views and immediate beach-front access.

- Long been recognised as having the most pristine beaches in the country.

- With consistently high tourist traffic this Crown Lease offers a solid tenure (30 years - runs through to November 2051) and offers a very rare and impressive cashflow.

- Long Crown Ground Lease only that is well established and has a long history.

- Sought-after lifestyle location.

This investment, currently run under management, is just waiting for a new lessee / operator or investor. A pleasure to inspect which might just take a day or two in order to soak up this beautiful environment.

Current occupancy levels are running well over 70%+, strongly indicating a need to further investment in accommodation at Sunset. A booming Geraldton economy as in-bound investment into large projects is putting pressure on businesses seeking to house workers.

Area of land (Back Block) that has recently been developed into 64 serviced sites (water, power, paved road) and a further 17 partially developed sites. This is a real opportunity to capitalise on these opportunities in addition to several other safe capital investment opportunities, each with significant paybacks.

Property includes:
- Main reception building with adjoining manager’s residence and camp kitchen

- 9 x 1 bedroom chalets, 5 x 2 bedroom chalets, 12 motel style rooms, 3 park cabins, 126 powered sites, 10 ensuited sites, Camp sites (up to 20 as required)

- 2 camp kitchens

- 2 ablution blocks

- Games room and adjoining laundry

- Several storage sheds, workshop and works yard

- Swimming pool, jumping pillow, children’s play area, viewing tower over ocean

Additional Information:
- Ability to add $459,264 per year

- December 2016 - 35 year Ground Lease commenced to 30 November 2015 (approximately 29 years to run as at 2022)

- 2009 - 170 sites approved

- 2013 - 191 sites approved

- 22 August 2018 - Sunset Village Plan Approved - Local development plan (Sunset Beach Lifestyle Village)

- 6 May 2021 - Binding Term Sheet signed by Fleetwood and Cojah Development - profit share arrangement and rear lands

- 2021 - 262 sites approved

- 2022 - 42 year Ground Leasehold with Council for consideration

- 13.26 % based upon 2020-21 financialas plus Profit Share and income from rear development lands (Projected $1.23M plus over time)

For full details and an information memorandum, call today. Detailed financials supplied by the owners are available once a confidentiality agreement is in place.

Net Profit: $663,193 for 2020/21

Contact Michael Philpott from Tourism Brokers for further information or to arrange an inspection.

Property ID: 1032CPL (quote when enquiring)

Property Code: 3956

Contact Tourism Brokers

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