G’day Group acquires east coast property at Narooma
Australia’s largest regional accommodation provider, the G’day Group, has bolstered its portfolio of holiday parks on the NSW south coast with the acquisition of Beachfront Camping and Cottages Narooma.
Located just off the Princes Highway, five minutes south of main township of Narooma, three hours from Canberra and five hours from Sydney, the 10-hectare property offers nearly 300 tourist sites and unabated access to the picturesque Handkerchief Beach.
Already home to some of the company’s most popular destinations, including Discovery Parks – Pambula Beach and Discovery Parks – Eden, this latest acquisition, which is to be reimagined as Discovery Parks – Narooma Beach, becomes the G’day Group’s fifth park along the popular stretch of coastline between Sydney and the Victorian border.
G’day Group Chief Investment Officer Amanda Baldwin said the company was attracted by the property’s growth potential and beachfront location in a town that has seen significant recent investments to help grow its tourist economy.
“Narooma is already a popular summer holiday spot, particularly for Canberrans and Sydneysiders escaping the city; however, the region still has a lot of untapped potential to attract visitors outside of peak season and from across the border in regional Victoria,” she said.
“The town is in the midst of a mini investment boom with Justin Hemmes’ Merivale hospitality group buying a local pub and Gerry Harvey’s acquisition of Black Bream Point Holiday Cabins in February this year.”
“The core of what we do as a company is promoting great regional destinations across Australia, so we are excited to play a role in building the tourism profile of Narooma.”
The G’day Group will make an initial investment of around $5 million on essential maintenance and infrastructure at the park, including refreshing and bringing more than 40 inactive sites back online. These works are expected to be completed over the next 6-12 months.
“With our well-established operational expertise, we can deliver immediate upside by improving the park’s digital presence, bringing dormant cabins back online and increasing marketing spend to attract more visitors throughout the year,” Amanda said.
“Longer term, the park requires maintenance work and infrastructure before we can realise its full potential, while there’s an opportunity to put in more tourist sites and family friendly facilities to cater to peak demand.”
