HTL Property has announced the off-market sale of Paynesville Holiday Park, a mixed-use caravan park in Victoria’s East Gippsland region, to ASX-listed Eureka Group Holdings Limited for AU$6.6 million. The transaction reflects an initial yield of 7.6% and was completed through a discreet sales process on behalf of an unlisted fund.
Located about 300 kilometers east of Melbourne, Paynesville Holiday Park is positioned within the township of Paynesville on the shores of the Gippsland Lakes, a destination known for tourism, boating, and lifestyle-oriented travel.
The property is within walking distance of the town center and marina precinct and approximately 20 minutes from Bairnsdale, the primary regional service hub for East Gippsland.
The acquisition adds to Eureka Group Holdings’ expanding portfolio of regional rental and seniors housing assets across Victoria.
According to The Hotel Conversation, the purchase aligns with its broader strategy of increasing exposure to regional markets supported by population growth among older residents, limited housing availability, and continued demand for affordable long-term accommodation options.
Andrew Jackson, National Director of HTL Property, managed the transaction and described Paynesville Holiday Park as “a highly resilient coastal lifestyle community with immediate income security and clearly defined development upside.”
“Paynesville Holiday Park offers strong regional fundamentals underpinned by a tightly held coastal location, an ageing demographic, low vacancy rates and a proven operating platform. The approved expansion significantly reduces planning risk, and enhances the long-term income profile of the asset,” added Jackson.
The park includes a range of amenities designed to appeal to both short-term visitors and longer-term residents, including a swimming pool, camp kitchen, games room, playground, and manager’s residence. Eureka Group said the property’s diversified income profile and approved expansion potential were among the factors supporting the acquisition.
The transaction also reflects continued investor interest in regional caravan parks and mixed-use holiday accommodation assets, particularly those with opportunities for long-term rental growth and redevelopment.
Industry professionals have increasingly monitored regional markets where housing shortages and demographic shifts are creating additional demand for affordable accommodation formats.
For park owners and operators, approved expansion capacity can also provide operational flexibility and reduce future entitlement risks, factors that are becoming more significant in valuation and acquisition activity.
Eureka Group noted that the Paynesville acquisition forms part of its ongoing expansion program, with additional acquisitions currently under due diligence as activity continues across the regional rental accommodation sector.