- The Queensland-based group purchased the NRMA Agnes Water Holiday Park following on-market expressions of interest campaign
- Currently operated by NRMA Parks and Resorts
- Owners Gary and Ann Kratzmann previously owned Kratzmann Caravans
G & R Kratzmann Property Investment have acquired a popular caravan park in the southern gateway of the Great Barrier Reef for $27.5 million.
Located between Rockhampton and the Sunshine Coast, the Queensland-based group purchased the NRMA Agnes Water Holiday Park following on-market expressions of interest campaign that was led by Paul Fraser and Dillon Murphy of CBRE.
Currently operated by NRMA Parks and Resorts, the asset houses a variety of accommodation options for holiday goers including caravan sites, villas, cabins and camping sites across 133 lots.
The caravan park occupies a 35,700 sqm block located along absolute beach frontage at Agnes Water, which is the closest access point to the southern Great Barrier Reef.
Australian National Homes, a family-entity, has owned the site for 13 years, with NRMA having a triple-net 35-year lease.
“This campaign generated a record level of market interest for an asset sale, with more than 280 enquires,” Mr Fraser said.
“This signifies the true strength and substantial level of demand for high-quality regional accommodation assets in Queensland. Given the significant logistical barriers for people looking to travel overseas, domestic travel has become the trip of choice for many travellers looking to explore their own backyard.
“This has led to continued strong performance in the drive-markets across regional Queensland.”
The sales come as Agnes Water has become one of Queensland’s most recognised and popular tourism destinations. Tourism growth is more than 100% year-on-year, and was recently named a recipient of Top Small Tourism Town in Queensland 2021 from the Queensland Tourism Council.
Gary and Ann Kratzmann, who owned the Kratzmann Caravans business until selling it to Apollo RV four years ago, said they were excited for the next part of their entrepreneurial journey.
“We are excited about this acquisition; after years of being in the retail caravan park industry, it has always been an ambition of ours to own a park ourselves,” Mr Kratzmann said.
“I feel privileged to be able to secure one of Australia’s best caravan parks, that my family will enjoy for generations to come.”
CBRE’s Mr Murphy added: “This sale has highlighted the continued strength of blue-chip tenanted assets providing investors with a strong long-term annuity of income.”
