The freehold going concern interest of the Baffle Creek Deepwater Tourist Park has been listed for sale for the first time in over 25 years.
Spanning nearly 37 hectares across two lots with waterfront access to Baffle Creek, the property includes a nine-hole golf course, caravan park, and a retail strip with five tenancies.
Located an hour north of Bundaberg, the property offers substantial redevelopment potential, with initial plans for a state-of-the-art tourism park featuring 173 sites, including 78 caravan sites and 95 tourist cabins surrounding the golf course.
It also generates passive income from the existing retail tenancies, approximating $70,000 per annum. Among these tenancies is a tavern with a liquor and gaming license and holding approvals for five gaming authorities, with a current market value exceeding $1 million.
CBRE Hotels’ Senior Director Paul Fraser said, “This multi-faceted asset offers a range of opportunities for an incoming purchaser to reposition the property to its highest and best use. The site’s strong underlying intrinsic value, the passive income from the retail tenancies and the five gaming authorities, make this an attractive proposition for the short to medium term.”
The Baffle Creek Deepwater Tourist Park is being sold via an Expression of Interest campaign closing Thursday 31st October (unless sold prior).
