Tasman Holiday Parks swoops on four more assets
Tasman Holiday Parks is on track to double in size by the end of next year, acquiring four more assets and rapidly expanding its development pipeline.
Backed by Sydney based Tasman Capital Partners, the private group last November raised $300 million to grow its accommodation portfolio, targeting the self-drive market.
It now holds 26 properties – 21 in Australia with the balance in New Zealand – containing over 4000 revenue generating sites.
THP chief executive officer Nikki Milne said the company welcomed more than 325,000 guests last year.
“The reopening of state borders in Australia has seen a surge in the domestic drive market which will believe will continue even with international travel restrictions…easing,” she added about the current backdrop.
THP enters Geelong
In Victoria, THP has just picked up the Riverglen Holiday Park (pictured, top), on two hectares overlooking the Barwon River at 75 Barrabool Road, Belmont, near central Geelong.
With 125 cabins, it is the group’s maiden investment in the Bellarine Peninsula town which has been experiencing significant population and capital value growth since the COVID pandemic.
Several hospitality groups have invested too including IHG, which will operate a 180 suite hotel at Franze Developments’ Geelong Quarter, Bill Votsaris, who is converting the ex-Geelong Post Office into a luxury guesthouse and BEKL, which is planning a retreat style boutique resort on a prime site within Eastern Park it acquired from the Salvation Army in 2020.
Earlier this month we reported Gurner was teaming with land owner Dean Montgomery to construct an 18-level mixed use complex, with tourist accommodation, at 20-28 Brougham Street, in the town centre.
Last November rival Ingenia Communities outlaid $37m for 3.2ha Big4 Beacon Resort at Queenscliff, about 30 kilometres south east of Geelong.
Byron Bay, Margaret River
In New South Wales, THP has added the Big4 Ballina Headlands Holiday Park to its stable (story continues below).
At 35 Skennars Head Rd, Skennars Head – between Ballina and Lennox Head – the property has been purchased from the family operator of 25 years, which will continue to run it.
“We have a huge respect for the proud family history BIG4 Ballina possesses alongside being one of NSWs most awarded holiday parks and we are looking forward to playing an active role in maintaining this tradition moving forward,” Ms Milne said.
The suburb is about 23kms south of Byron Bay.
The last two properties THP purchased – the Yallingup Beach Holiday Park and Yallingup Caves Holiday Park – are near each other, c250kms south of Perth, in the greater Margaret River region.
ANZ development pipeline balloons
THP has flagged further growth, with $120m earmarked for Australian product, be it new investments or on to the company’s development pipeline.
Another $30m is set to be spent on New Zealand properties.
“We are well positioned in the New Zealand market with major investments underway as we prepare for the April 13 border reopening date,” Ms Milne said.
“Tasman Holiday Parks’ proposed New Zealand acquisitions will add significant scale to the group’s New Zealand operations, taking the company’s total number of revenue-generating sites under management to almost 1000,” she added.
In Australia, the group has earmarked expanding its Racecourse Beach park, in the NSW South Coast town of Bawley Point, and some Queensland assets.
“Reinvesting in our acquisitions and recapitalising assets is an important part of the group’s growth strategy,” according to Ms Milne.
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