A deadset: Burial park potential for $250 million in 25 years return
Australia is running out of burial sites in a supply/demand equation that looks quite similar to that of property. In Sydney, 245,000 more burial sites will be needed by 2020 to accommodate an ageing population.
This leaves current capacity peaking at 2035 for Sydney.
Acacia Remebrance Sanctuary in Bringelly, near Liverpool in Sydney's South West Growth Centre, is a 10-hectare site now for sale.
Zinnia Group are the development company behind the project, and expressions of interest are now being taken for the sale of the natural burial and commemoration park.
The masterplan-approved park spans 10 hectares, with hopes to be operational by 2015.
Selling burial plots and memorialisation are among the money-making potential avenues. A cafe, catering facilities, venue hire and funeral services are also potentials.
This has Deloitte Private estimating the potential earnings for the park over $250 million in 25 years.
“Demand for burial sites in Sydney is fast outstripping supply, with increasing pressure being placed on these key pieces of social infrastructure mainly due to our ageing population. Projections show that 245,000 additional burial sites will be required in Sydney by 2020 and that Sydney’s existing cemeteries will reach capacity by 2035,” said Zinnia Group founder and director Robert Itaoui.
"This, together with figures that show an increase of 89% in land values across Sydney’s six major cemeteries during the last 5 years – that's 12% per annum – underline the strength of Acacia as a unique and highly lucrative investment opportunity. As such we are confident the sale of Acacia will attract a great deal of interest,” Itaoui said.
The closing date for final offers is 5pm on February 28, 2014.