The Mandurah Coastal Holiday Park, the only remaining holiday park in the heart of Mandurah, a premier tourist destination in Western Australia, has been sold for AU$13 million.
The buyer, Equinox Property Group, is a private funds management firm with a growing portfolio in the affordable accommodation sector. The sale was negotiated by Tony Delich and Cory Dell’Olio of Knight Frank, following an Expressions of Interest campaign.
The park occupies a significant 4.04 hectare site, situated around 400 meters from the beach and three kilometers from the Mandurah Marina. It is licensed for a total of 205 sites, while currently only utilizing 191, which are configured as 25 accommodation units, 24 grassed tourist sites, 63 concrete tourist sites, and 79 permanent sites.
The park’s unique position and its services to both tourists and permanent and semi-permanent patrons make it a key player in the local economy, according to a report by the Hotel Conversation.
The Mandurah Coastal Holiday Park plays a significant role in the local tourism industry. It is located 500m from the beach, in the heart of Mandurah, and is within walking distance to the Mandurah Foreshore, Dolphin Quay Marina, and the Peel inlet, which is known for its abundant marine life, excellent fishing, crabbing, surfing, cruising, and dolphin watching.
The park is also close to bars, restaurants, retail outlets, and wellness options, making it a central hub for tourists.
Local businesses have reported a bumper season over the Christmas and New Year’s holiday period, with a huge influx of visitors to Mandurah. The park’s presence and its services contribute to this positive growth in numbers, benefiting the local economy and businesses.
The park’s monopoly position, being the only park in close proximity to the Mandurah town center, further enhances its significance.
The park is described as a strong trading holiday resort and lifestyle village. The site is divided into 11 separate land titles providing flexibility for future development into staged parcels. It has a development guide plan valid to August 2030 for a mixed-use project including multi-level apartments and a neighborhood shopping center.
This suggests that the Equinox Group may have the opportunity to further develop the site, potentially enhancing its appeal and value.
Equinox Property Group, the buyer of the Mandurah Coastal Holiday Park, is particularly interested in land lease/lifestyle villages that cater to semi or full-time retirees. They have a growing portfolio of properties, having recently acquired two Victorian tourist parks worth nearly AU$6 million in total.
These parks, Benalla Tourist Park and Healesville Lifestyle Village, were purchased off-market and are the latest additions to Equinox’s portfolio of Victorian mixed-use tourism and land lease villages.
The sale of the Mandurah Coastal Holiday Park presents an opportunity to acquire a significant landholding, a long-established holiday park, and the only one remaining in the heart of Mandurah.
The property itself is situated approximately 400m from the beach and 3km from the Mandurah Marina. The holiday park enjoys a monopoly position given it is the only park in close proximity of the Mandurah town center and services both tourists, permanent and semi-permanent patrons.
