Knotts Crossing Resort Katherine sold off-market by Resort Brokers
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Knotts Crossing Resort Katherine sold off-market by Resort Brokers
Knotts Crossing Resort in Katherine has been purchased by a funds manager in an off-market deal worth more than $7.5 million.
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RESORTBROKERSKnotts Crossing Resort Katherine sold off-market by Resort Brokers.
Sydney-based Mandala Asset Solutions wasted no time securing the prime Northern Territory oasis as a freehold investment the instant it was listed by specialist national agency RESORTBROKERS.
The sale of the Katherine Gorge gateway resort was handled jointly by RESORTBROKERS’ national sales manager Trudy Crooks and S.A. – N.T. broker Kelli Crouch.
“Showing rare 11.5 per cent returns, this high-earning investment sold for the asking price of $7.61 million before we took it to market,” Ms Crooks said.
RESORTBROKERS’ national sales manager Trudy Crooks
“Mandala is very experienced in identifying prime accommodation-driven assets in regional Australia, and Knotts Crossing ticked all the boxes for earnings and growth outlook.
“Located just a short drive from world-renowned Katherine Gorge, the resort has been operated by the current lessee for 10 years and, with 13 years remaining on the lease, it is a very secure and profitable long-term freehold investment.”
Knotts Crossing Resort was sold by a privately-owned Queensland-based investment syndicate that had held it for approximately 15 years.
Ms Crooks said demand for quality accommodation assets in regional Australia was gaining momentum.
“The regions are increasingly being targeted as strengthening tourism and accommodation investment destinations,” she said. “The smart money is making counter-cyclical investments.
“Mandala’s activity is evidence of this trend, with plans for a new fund, its biggest portfolio yet, and all by investing primarily in accommodation-driven assets across regional Australia.”
Knotts Crossing Resort is an expansive property covering three hectares and includes 35 powered caravan sites with private ensuite amenities, 36 ensuited cabins, 86 motel rooms, the Savannah Bar and Restaurant and a casual poolside alfresco bistro.
Facilities include two pools, three BBQ areas, function room, camp kitchen, amenities block, commercial laundry, guest laundry and a three-bedroom manager’s residence.
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