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Case Studies

186-202 Chinderah Bay Drive, NSW

The Tweed Heritage Caravan Park at Chinderah near Tweed Heads on the far north coast of NSW has been sold for $6.08 million by Ray White Commercial as investors continue to secure assets in the caravan park sector.

The 40,100 m²* site at 186-202 Chinderah Bay Drive, Chinderah, was sold to a Sydney-based private fund by Sam Johnson of Ray White Commercial Coolangatta/Tweed Heads on behalf of Tweed Heritage Park Pty Ltd.

Mr Johnson has completed the sales of three caravan parks in the Tweed region in recent months for more than $12 million, including the adjoining Chinderah Lakes Caravan Park at 182-184 Chinderah Bay Drive, Chinderah, to the same purchaser for just under $4 million.

He also sold the Royal Pacific Tourist Retreat and Caravan Park in Chinderah for $2.5 million. Mr Johnson said the Tweed Heritage Caravan Park, which consisted of two large four bedrooms residences, a manager’s office and a total of 147 caravan sites, is a well-established business generating gross annual income of about $1 million.

“This property represented a once in a lifetime opportunity to acquire a substantial parcel of land with a fully operational and established business set up,” he said.

Sales Analysis*

Method of Sale:Offers to Purchase
Marketing Time Frame:4 weeks
Marketing Budget:$30,950
Sale Date:21/02/2014
Enquiries:76
Number of Offers:13
Sale Price:$6,080,000
Passing Yield:10%

*approx

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