Retirement village listed on NSW south coast

A 100-site retirement village on the far south coast of New South Wales has been listed for sale.

Homes in the 8 hectare Acacia Ponds Village near Merimbula are owner occupied but residents pay a weekly rent of around $85 per week for the land.

Home sites advertised on the website are priced from $195,000. Residents who wish to resell their house must pay a commission to do so and must sell to someone aged over 50 who will sign a lease with the management.

The site is currently run by Manor Park Homes

The estate has been listed by CBRE’s Andrew Jackson.

“We expect strong interest in this Manufactured Home Estate, from both local and interstate buyers because of the solid consistent rent returns and room for upside,” Jackson says.

“With 100 approved sites, 83 of which have homes providing a weekly rental, the village provides an incoming purchaser with great returns upon purchase. Additionally, there is potential to fill the remaining sites and significantly increase income both through development profits on home sales as well as the increased rents subsequently being generated.”

CBRE recently sold the Oaklands Village Manufactured Home Estate in Wollongong to Alceon in an off market transaction for $13.4 million.

“These assets offer a secure, consistent income source and are relatively passive. Our ageing yet mobile population is also drawn towards the relatively low cost housing options offered by manufactured home villages, which also provide a range of facilities and a great community atmosphere, which means that they generally have little to no vacancy,” Jackson says.

“This depth to the market is evident by the crisp yields being paid for quality parks, with upside potential such as revenue uplift through rental increases or further expansion potential.”

Home 84 was the most recent sale in the village, according to RP Data. The two bedroom weatherboard home sold in May after being listed for six months at $185,000.

Alistair Walsh

Alistair Walsh

Deutsche Welle online reporter

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