Family caravan park sells
Bidder acquires Collendina property to expand tourist park portfolio
HOLIDAYMAKERS will continue camping at the Collendina Caravan Park after an Australian-owned tourist park and lifestyle village operator acquired the Bellarine Peninsula property.
Hampshire Property Group was the successful bidder for the 328-site Ocean Grove park with extensive recreation facilities including two tennis courts and swimming pools, a football oval, basketball court, informal nine-hole golf course and a private track to the surf beach.
Real estate firm JLL’s vicepresident, investment sales Nick MacFie said 90 per cent of the 12 formal offers for the 30ha park were from caravan park operators.
Mr MacFie said more than 300 inquiries were received for the park, which was offered for the first time in almost 40 years.
Hampshire Property Group has made a number of park acquisitions around Australia as major holiday players take a bigger stake in the sector.
Chief executive Frank Sharkey said it was an exceptional holiday park.
“We look forward to building on the magnificent work of the Steains family, continuing to serve existing annual holidaymakers and introducing more Victorians to this wonderful holiday location,” Mr Sharkey said.
Hampshire operates 15 over-55s villages in four states, including Pelican Shores Estate at Leopold, and owns a dozen Big4 and other branded caravan parks.
Owners Bill and Joan Steains have operated the park for 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,” Mr Steains said.
“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.”
Mr MacFie said the interest in the property was unprecedented.
“You’ve got an amazing caravan park on an outstanding
piece of real estate. We were pretty confident we would get a lot of interest, it exceeded all expectations,” he said.
Mr MacFie said demand for caravan parks was at an alltime high.
Ingenia Holidays bought Queenscliff’s Big4 Beacon Cove resort for $31m in an offmarket transaction in 2021, while Tasman Holiday Parks reportedly splashed $65m on four sites, including Belmont’s Riverglen Holiday Park earlier this year.
Mr MacFie said the 30ha site was not a genuine target for developers.
“The current zoning doesn’t really allow for development, it’s a mixture of farming and rural conservation zoning so in the short to medium term that wouldn’t be possible,” he said.