Investor pays $6m for Port Macquarie’s Vacation Village

Port Macquarie resort Vacation Village has sold for $6 million.

The vacant property at 50 Settlement Point Road, about 2.5 kilometres north of the CBD, was marketed to owner occupiers, developers and investors.

In the end it was secured by the latter, a local.

On a 1.73 hectare R1 zoned site opposite Hastings River, Vacation Village includes 24 two bedroom units, a three bedroom manager’s residence, 28 car parks, a mini golf course, tennis court, spa, sauna and clubrooms for adult and children (story continues below).

Last June, occupancy was 75 per cent, according to marketing agents, Savills Hotels’ Nick Lower, Leon Alaban and Selin Ince with LJ Hooker’s Greg Laws, representing Rodgers Reidy as sale trustee.

Port Macquarie is about a four hour drive north of Sydney.

The complex includes clubrooms, a restaurant, mini golf course and tennis courts.
The 1.73 hectare site is opposite Hastings River.
The vacant hotel with 24 two bedroom suites was listed in January.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco