30-hectare oceanfront caravan park on Victoria’s Surf Coast sold
JLL announce the sale of the highly regarded Collendina Caravan Park in Ocean Grove.
2 May 2022 – Collendina Caravan Park, a 30-hectare ocean front asset that’s been family owned for almost 40 years, has sold to Hampshire Property Group after a highly competitive sale process.
JLL Hotels & Hospitality Group’s Nick MacFie and Peter Harper negotiated the sale for a price that remains confidential.
Situated just 1.5 hours from Melbourne and 30 minutes from Geelong on Victoria’s famous Surf Coast, the park features 328 sites and extensive recreational facilities, including two tennis courts, two swimming pools, football oval, basketball court and an informal nine hole golf course, as well as a “private” track to the adjacent surf beach.
The campaign attracted a very wide and diverse range of investor interest with over 300 enquiries and twelve formal offers received.
The successful purchaser, Hampshire Property Group, is an Australian family-owned business who have been making waves in recent times with a number of park acquisitions around Australia. Frank Sharkey, CEO, said “We are very pleased to be able to acquire this exceptional holiday park. We look forward to building on the magnificent work of the Steains family, continuing to serve existing annual holiday makers and introducing more Victorians to this wonderful holiday location”.
Nick MacFie, Vice President, said “We have never experienced the level of enquiry as we did in this sale campaign. Given the outstanding attributes of the park, its enormous ocean front land parcel and location at the gateway to Victoria’s surf coast, we were confident in a strong result however this campaign exceeded all expectations. The demand for caravan parks within Victoria is at an all-time high with us now having a number of disappointed under bidders who are seeking similar opportunities.”
He added, “We feel very privileged to have represented the Steains family, who have owned and operated the park for almost 40 years, in such an important transaction and are excited that their legacy will be continued under the stewardship of Hampshire”.
Owners of the Collendina Caravan Park, Bill and Joan Steains, said “We are delighted that the difficult decision to sell our Park has resulted in it being passed into the safe hands of Hampshire Property Group. Over the past 37 years we have worked hard to develop Collendina into the wonderful family park that it is today and we feel confident that the park will continue to grow from strength to strength under Hampshire’s ownership. While it will be hard for us to say goodbye to the lovely families in our Park, we feel comforted knowing that Hampshire is the perfect fit and is keen to continue our legacy”.
Peter Harper, Managing Director & Head of Investment Sales, said “The Caravan Park sector has become increasingly institutionalized over the past few years with major groups raising and deploying significant volumes of capital for acquisitions and asset enhancement. However, this sale also demonstrated the number of private owner-operators who are looking to expand from a single asset or further build on their existing portfolios. Parks that are well presented and situated on large land allotments remain highly sought after and we anticipate the level of transaction activity that occurred last year to continue throughout 2022.