LAKELAND SITE FOR SALE
A FREEHOLD business with a strong history and a bright outlook is for sale in the Far North’s northwest. Turalba Rural Workers Accommodation, located near Lakeland on Cape York is now on the market.
FOR those looking for a freehold business with a strong history and a bright outlook, then look no further than the Far North’s northwest.
Turalba Rural Workers Accommodation, located near Lakeland on Cape York, may prove the winning formula, according to Colliers International agent Stacey Quaid.
Turalba was established in 2009 to provide accommodation to international and local workers employed in the rural industries surrounding Lakeland.
During the following decade, demand expanded to include contractors and tradespeople engaging in projects across the Cape.
“Set on 150 hectares, Turalba Rural Workers Accommodation is ideally located to fulfil the needs of rural and contract worker housing in the Lakeland region,” Ms Quaid said.
“It is a well-planned business with opportunities for further growth, including more short-term accommodation options.”
The agricultural area of Lakeland comprises one of the largest areas of more fertile cropping soils within the Cook Shire Council area.
While dryland farming, including corn, sorghum and peanuts has been an integral part of the agricultural history of Lakeland, in recent years the investment in banana crops has been substantial.
She said the average worker stay was around six months with a range of accommodation types to suit singles, couples, and groups as the property has approvals for up to 150 persons per night.
Recent expansions in the region look to create additional demand and Turalba is well positioned to capitalise on this.
“It is due to the retirement plans of the existing owners that the business has been offered for sale and we see this as an opportunity for either an investor or owner/operator,” Ms Quaid said. “There is a well proved management formula already in place and solid returns achieved over the past five years, which we would expect to improve as that demand increases.
The business and freehold property are offered for sale at $3 million.
For more information contact Colliers International agents Stacey Quaid on 0418 773 258 or Charlie Torrisi on 0408 006 123.