The Boab Caravan Park consists of eight cabins and 39 powered sites on 10,000 sqm along Victoria Highway in Katherine South, at the doorstep of the Nitmiluk National Park.
They sold for an 8.96% return through specialist agency ResortBrokers, which also handled the separate long-term management lease of the asset.
The agency company has brokered a combined $21.5 million of caravan and cabin park sales in the Northern Territory.
ResortBrokers’ broker Kelli Crouch said the passive investment is situated on landscaped green grass that separated it from the competition.
She said the most recent sale – ResortBrokers’ fourth latest big park settlement in the NT – demonstrates demand for caravan parks, particularly in the Top End, shows no signs of waning. The Northern Territory has fared better during the pandemic than the major eastern capitals. According to STR data, occupancy rates in the Northern Territory were at 58% in August, which was the highest of all states and territories in Australia.
“I’m getting enquiries from a really broad range of buyers and investors from interstate who are interested in assets across the Northern Territory and caravan parks, in particular, are in high demand right now,” Crouch said.
“As soon as we list a caravan park in the Northern Territory, and especially if it’s good quality, we’re getting serious offers. In the past, parks would often take some time to sell, but now that’s changed dramatically.”
ResortBrokers also brokered the sales of Hidden Valley Holiday Park in Berrimah; Barkly Homestead in Tennant Creek; and Devils Marbles Hotel in Davenport.
