One of Australia’s most iconic outback accommodation businesses has changed hands with Barkly Homestead in the Northern Territory being sold by ResortBrokers.

Barkly Homestead is a unique destination in itself, providing accommodation, food and fuel in one of the most remote regions of Australia.

It is the only stop on a 450 kilometre stretch of road between Camooweal in Queensland and the Threeways Roadhouse near Tennant Creek in the Northern Territory. The multi-faceted business, with numerous income streams, was listed for sale at $14 million.

“Visiting Barkly Homestead is quite literally a ‘must do’ for travellers, truckies and mining and construction workers. And, for local pastoralists and the surrounding community, it is their vital service, supply and social centre,” said ResortBrokers Managing Director Trudy Crooks, who handled the deal with Northern Territory Specialist Kelli Crouch.

“With its multiple, and complementing, income streams Barkly Homestead is showing strong year on year revenue growth and it was perfectly set up for a new operator to take it to the next level,” said Ms Crooks.

“Interest in the business came from astute and entrepreneurial buyers who saw this for what it was - an opportunity like no other, an oasis in Central Australia, a unique destination with complete command of a captive market and genuine barriers to competition entry.”

Set on 30 acres, Barkly Homestead provides a roadhouse and fuel service, motel, cabin, caravan and camping accommodation, a shop, takeaway food, restaurant, bar and beer garden, airstrip, hangar and aviation fuel service.

“There were also opportunities for expansion across the whole suite of operations areas, including expanding the accommodation, F&B, the tourist services and the fuel service,” Ms Crooks said.

The accommodation is made up of 30 units including 10 motel rooms, 12 cabins and eight donga-style rooms while the caravan and camping has around 60 powered van sites and unlimited unpowered sites.

The food and beverage section is made up of a licensed restaurant for up 150 guests, take away food service, bar and beer garden and a well-equipped shop. The roadhouse, built in 1984, is a “compulsory” stop as it is the only option for fuel in this area and it is also a vital supply centre for the surrounding cattle stations, the trucking industry and local mining operations.

Barkly Homestead also provides an adjacent 1,150-metre, all-weather airstrip, with associated facilities including space for aircraft parking, an aircraft hangar, and a 10,000 litre Avgas tank and bowser.

Ms Crooks said demand for outback accommodation businesses is hitting unprecedented highs, especially properties with a unique selling point and multiple income streams.

“There is now a lot of new buyers in the market who are actively looking for these types of businesses as they provide very strong cash flow, as with Barkly Homestead,” Ms Crooks said.

“It’s the same for caravan parks as well. The capitalisation rates are tightening which means investors see these assets are low risk, high return investments.

“What’s driving this? It’s a combination of a surge in domestic and drive tourism and the fact that interest rates are at record lows and likely to remain that way for some time.”

To request a sales analysis please contact the selling agents ResortBrokers via the below contact details.