One of Australia’s Favourite Caravan Parks Snapped up for $27.5m
Brisbane – July 22, 2022 – G & R Kratzmann Property Investments has acquired one of the nation’s favourite caravan parks, as demand for regional Queensland leisure assets goes from strength to strength.
The freehold interest in NRMA Agnes Water Holiday Park, between Rockhampton and the Sunshine Coast, was purchased for $27,500,000 by the Queensland-based group, following an on-market Expressions of Interest campaign steered by CBRE’s Paul Fraser and Dillon Murphy.
Operated by NRMA Parks and Resorts, the asset boasts a variety of accommodation options for holiday goers including caravan sites, cabins, villas and camping sites, across a total of 133 lots.
The park occupies a substantial 35,700sqm block ideally located along absolute beach frontage at Agnes Water, the closest access point to the southern Great Barrier Reef.
Having been owned by family entity Australian National Homes for 13 years, the site changed hands with a new, triple-net 35-year lease to NRMA Parks and Resorts.
“This campaign generated a record level of market interest for an asset sale, with more than 280 enquires,” Mr Fraser said.
“This signifies the true strength and substantial level of demand for high-quality regional accommodation assets in Queensland.
“Given the significant logistical barriers for people looking to travel overseas, domestic travel has become the trip of choice for many travellers looking to explore their own backyard.
“This has led to continued strong performance in the drive-markets across regional Queensland.”
Over the past two years, Agnes Water has become one of Queensland’s most recognised and popular tourism destinations.
With tourism growth in excess of 100% year-on-year, it was a recipient of Top Small Tourism Town in Queensland 2021 status from the Queensland Tourism Council.
Gary and Ann Kratzmann owned the renowned Kratzmann Caravans business, which retailed caravans on the northside of Brisbane, before selling to Apollo RV sales four years ago.
“We are excited about this acquisition; after years of being in the retail caravan park industry, it has always been an ambition of ours to own a park ourselves,” Mr Kratzmann said.
“I feel privileged to be able to secure one of Australia’s best caravan parks, that my family will enjoy for generations to come.”
CBRE’s Mr Murphy added: “This sale has highlighted the continued strength of blue-chip tenanted assets providing investors with a strong long-term annuity of income.”