Sunshine Coast glamping resort sells for $23.25m
A luxury camping and glamping resort of the banks of the Maroochy River has sold for 23.25 million.
The four-hectare Rivershore Resort at Diddillibah near Maroochydore was bought by holiday parks specialist Ingenia Communities Group, which is looking to strengthen its Queensland portfolio with the latest high-profile acquisition.
The resort comes complete with 80 large powered sites for caravans and 15 newly constructed ‘glamping’ tents, plus a water park, mini golf course and boat access to the river.
Ingenia CEO Simon Owen says the property, an hour from Brisbane, is a quality offering in a lucrative market.
“The accommodation, which caters to our key markets of families and the travelling senior, is well planned and of high quality,” he said.
“In addition, the Resort gives our Holidays brand an additional presence in the attractive Sunshine Coast market, complementing our existing footprint along the NSW and Queensland coast.”
Current owner Bernie McGovern spent some $10 million buying the site and developing the resort, which opened in 2016.
He told the Sunshine Coast Daily that, while the sale left him with a “bit of a heavy heart”, he supported Ingenia’s management style and understood the company was looking to continue to deliver the kind of personal service which has made the resort an award winner.
He said the business was growing by some 15-20 percent each month and “would run the highest occupancy of any caravan parks in Australia, by a long way”.
Ingenia says there is potential for the vendors to receive another $4.5 million on top of the $23.25 million subject to further growth in the financial performance of the resort in the 12 months following the sale.
Rivershore was named the best BIG4 holiday park in Australia last year and took silver at the 2017 Queensland Tourism Awards for Best New Tourism Business.
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