Perth caravan park, Queensland Mercure find buyers
ASX listed Eureka Villages has swooped on another caravan park, this time in outer south east Perth.
Hillside Garden Village at 270 Western Highway, Mount Richon, set it back $22.15 million.
On 9.11 hectares, it contains 200 short and long stay sites, including for caravans.
There are also powered sites and self-contained units, ablution blocks, a carwash bay, swimming pool and social club.
“The property is arguably one of Perth’s finest short/long stay villages and caravan parks,” Knight Frank’s Tony Delich, who represented the seller, a local syndicate, with Empire Commercial’s Craig White, said.
“It has high occupancy and is underpinned by a massive landbank of nine hectares and location in the tranquil foothills just outside of Armadale,” he added.
It also holds development upside, zoned for residential.
The sale was brokered off-market.
Mount Richton is about 25 kilometres from town.
The deal comes two months since we reported Eureka bought Coral Tree Lodge, near Nowra.
Also in New South Wales this year, it acquired Tuggerawong’s Tuggerah Shores.
In Queensland meanwhile, the group – the country’s largest provider of affordable senior housing – snapped up three investments.
Another Mercure sells
Meanwhile, another Mercure has sold – the only one in Townsville.
On 4.33 hectares on the waterfront at Currajong, the venue found favour with an operator that also leased the Mercure brand from Accor.
Also with basketball and tennis courts, conference facilities, gym, lagoon pool, spa, bars and bistro, there are 174 rooms
It was marketed for its potential to add 26 suites.
Based on the passing income, the sale reflects a seven per cent yield.
JLL’s Gareth Closter, Tom Gleeson and Gus Moors brokered the sale, for Lyon Group, and lease.
“We have an excellent relationship with Accor and, given the strong distribution they deliver to the hotel, we worked with the purchaser during the sale process to retain the brand,” they said.
The asset was well received given over 150 Queensland hotels are on the market right now, they added.
The deal comes three weeks since we reported a Mercure in Melbourne’s Warragul sold.
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