The site of the popular former El Caballo Blanco motel, resort and theme park in Wundowie, 60 kilometres east of the Perth CBD, is up for sale, along with a neighbouring lifestyle village of the same namesake.
The El Caballo Lifestyle Village and El Caballo Resort complex at 51 Jocoso Rise and 3349 Great Eastern Highway respectively are being offered for sale either together or separately.
The properties are being taken to the market via an Expressions of Interest campaign run by Tony Delich of Knight Frank on behalf of the owners.
The lifestyle village has a land area of 38.95 hectares, with income from an existing 34 occupied homes, and major infrastructure including a manager’ sales office and activity centre, plus other improvements and amenity which could potentially be refurbished or repurposed.
It offers significant scope for expansion, with development approval for a total of 131 lifestyle lots. There are already 89 fully serviced lots created, with 38 homes built – four of which are display homes.
The resort has a total site area of 6.5 hectares, with significant improvements including function rooms, bars, equestrian arena, amphitheatre, tennis courts, commercial kitchens, motel units and swimming pool, ready for refurbishment.
The lifestyle village and resort are separated by the El Caballo golf course and are surrounded by various parks and nature reserves.
Mr Delich said the sale had the potential to see an underutilised site developed to its full potential.
“The development potential of this well-known site in Western Australia will be the biggest drawcard for buyers,” he said.
“The existing lifestyle village includes significant land improvements providing holding income, with the immediate capacity to increase the number of lifestyle lots up to 131 when fully developed.
“In addition, there are various subdivision options across the balance of the large site.
“The El Caballo sale is likely to be very attractive to the growing number of lifestyle village operators and comes at a time when Western Australia is in desperate need of new affordable housing options for seniors.
“Lifestyle villages have become an extremely popular housing choice for seniors as they provide an affordable housing option for retirement without the complexity of a Deferred Management Fee which is required with most Retirement Villages.”
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