SOLD
Sold on 19 Jun 2024 for $340,000

176-180 Ibis Street
Longreach QLD 4730

Bedrooms: -
Bathrooms: -
Car spaces: 35
Land area: 4856m2
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Property Details for 176-180 Ibis St, Longreach

Building Type
Commercial
Land Size
4856m2
Local Government
Longreach Regional
Lot/Plan
186/L3576

Last Listing description (November 2023)

Freehold caravan park with high margins now available in key Qld Outback location of Longreach. You will get 1 acre across 4 titles. There is a residence, 35 sites, 5 cabins and a rented cottage.

Location Details

This caravan park is located in the town of Longreach with full access to all of the towns services and conveniences. It serves as a hub location for tourists and property workers.

Potential
There is plenty of revenue growth potential as the business has a low social media presence and renovations would increase nightly rates.
The new freedoms for travelling is seeing a whole rash of new travellers staying for longer than average so that they can see the increasing attractions available in the region.
The proactive council has been responsible for new reasons to visit Longreach and Winton such as outback symposiums, the renovation of a Murray River paddle steamer and the burgeoning dinosaur fossil interest. Remember also that the mighty Stockman's Hall of Fame is also here.

Skills
Being small and easy to run means this park suits both a couple starting out in the industry as well as those looking to add to their portfolio.

Hours
Tourism hours with plenty of time for your own travel throughout the year.

Employees
Two owner managers who get some occasional help from some of the permanent residents.

About the Business
Probably the biggest growth industry right now in Australia is hospitality and tourism. No wonder this freehold caravan park is busy! What with events like outback drone symposiums, Australian Dinosaur tourism and the almighty Stockman's Hall of Fame to support the normal grey nomad and family holiday makers.

The Longreach Caravan Park is centrally located in this outback hub city. The grassed areas keep the temperature lower and is a great attraction for travellers with pets. Peak tourist time is Easter to November along with steady long term annual trade from shearers and workers on the cattle or sheep properties nearby.

The main park has of an acre of land across three titles and includes 5 self contained cabins along with 35 designated sites. The office is run out of the managers residence which also has 2 bedrooms, one bathroom, storage area, kitchen and living areas.

The sale also includes an adjacent title of of an acre which holds a rented cottage.

This simple to run complex provides a high yield. Latest financials have just been received and show 17-19% ROI over the last two years of adjusted net profit (net profit plus add backs).

Contact Peter Bender 0421 253 771 for a confidentiality agreement and business profile.

History
Current owners have worked the business since 1999 and created a real culture of enjoyment around the place. Things like free morning and afternoon tea encourage guests to mingle, establish friendships and return en masse.

Property History for 176-180 Ibis St, Longreach, QLD 4730

A timeline of how this property has performed in the market
Last Sold
$340,000
19 Jun 2024
  • 19 Jun 2024
    Sold for $340,000
  • 29 Jun 2022
    Listed for Sale $1,250,000
  • 21 Aug 2010
    Listed for Sale FREEHOLD $720,000
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About Longreach 4730

The size of Longreach is approximately 23,494.5 square kilometres. It has 18 parks covering nearly 1.1% of total area. The population of Longreach in 2011 was 3,355 people. By 2016 the population was 2,966 showing a population decline of 11.6% in the area during that time. The predominant age group in Longreach is 50-59 years. Households in Longreach are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Longreach work in a professional occupation. In 2011, 53.5% of the homes in Longreach were owner-occupied compared with 52.6% in 2016.

Longreach has 1,966 properties. Over the last 5 years, Houses in Longreach have seen a 104.37% increase in median value, while Units have seen a -18.84% decrease. As at 31 August 2024:

  • The median value for Houses in Longreach is $241,254 while the median value for Units is $192,722.
  • Houses have a median rent of $340 while Units have a median rent of $190.
There are currently 28 properties listed for sale, and 2 properties listed for rent in Longreach on OnTheHouse. According to CoreLogic's data, 86 properties were sold in the past 12 months in Longreach.

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.