Own your own beachside cabin park
Paradise Park Cabins on Tuggerah Pde at Long Jetty is on the market for $7 million.
The cabin park, which has been run by the same owners for 30 years, is in prime position on the Long Jetty foreshore, and is advertised as a “highly profitable” business, with a total revenue of $564,117 for the 2016 financial year.
Marketed as a combined land and business sale, the 33-cabin park set over 0.46ha includes a range of two-bedroom and studio cabins and villas that overlook Tuggerah Lake.
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An interesting opportunity for investors, the 33 cabin site has the potential for redevelopment, offering B2 local centre & R2 Low density residential land zonings, which could allow for businesses such as childcare, retail shop fronts and multi-level units.
Alternatively, buyers can keep the business running in its current form, which the vendor Greg Smith says is very easy to run.
Raine and Horne Commercial Erina agent Ben Purdue also says that the business had a high occupancy rate.
“It would be a great sea change for someone, and the benefit is that you can live on site and enjoy the capital growth of residential real estate,” he says.
Purdue also says that the vendors, Greg and Kathryn Smith, would be willing to sell as a land-only transaction at a discounted price. The local couple are hoping to retire after many years running the business.
This article from the Central Coast Gosford Express Advocate originally appeared as “Central Coast cabin park is on the market for $7 million”.