Mandurah Coastal Holiday Park sells for $13 million

The only remaining holiday park in the heart of the West Australian coastal city of Mandurah, a tourist destination around an hour south of Perth, has sold.

The Mandurah Coastal Holiday Park at 153-169 Mandurah Terrace was purchased for $13 million by Equinox Group, a group from the eastern states of Australia in the holiday park industry, from a private family.

The deal was negotiated following an Expressions of Interest campaign run by Tony Delich and Cory Dell’Olio of Knight Frank.

The Mandurah Coastal Holiday Park occupies a significant 4.04 hectare site, situated around 400 metres from the beach and three kilometres from the Mandurah Marina, with proximity to the retail precinct and the Mandurah Estuary.

It is licensed for a total of 205 sites, while currently only utilizing 191, which are configured as 25 accommodation units, 24 grassed tourist sites, 63 concrete tourist sites and 79 permanent sites.

Mr. Dell’Olio said the offering had provided buyers with the opportunity to acquire a long established holiday park in the heart of Mandurah on a significant landholding.

“The Mandurah Coastal Holiday Park is a strong trading holiday resort and lifestyle village in a premier tourist destination close to Perth,” he said.

“The market for mixed-use caravan parks from owner-operators, investors and larger accommodation groups is strong.

“These assets have maintained steady returns, even in softer economic times, due to the ongoing demand for affordable accommodation from tourists, retiree and short-stay labour force.

“The holiday park enjoys a monopoly position given it is the only park in close proximity of the Mandurah town centre and services both tourists, permanent and semi-permanent patrons.

“During the campaign, we had strong interest for the property with over 60 direct enquiries from operators, investors and developers.”

Mr. Delich said since the site was of a significant size, it offered potential for future redevelopment

“The site has a development guide plan valid to August 2030 for a mixed-use project including multilevel apartments and a neighbourhood shopping centre.

“The site is divided into 11 separate land titles providing flexibility for future development into staged parcels.”