Has anyone looked at buying a 100×100 year lease hold in a caravan park in a good location, a concept being sold by http://www.simmscorp.com/.
due to “leasehold” there is no landtax/stampduty payable but the lease is registered at the titles office.
The lots are small, 72 sqm to 120 sqm, enough to fit a small 1 br portable unit (approx. $100,000) or double storey 11 sqm architect designed holiday home (total cost incl. furniture package around $200,000).
The unit has to be removable, as per council regulation.
The use is quite flexible, eg live in it, holidays, holiday letting.
There isn annual fee of approx. $3,500 which covers most outgoings.
The 2 br could be let for $200 per night (7%letting fee and cleaning costs need to be taken out) and it seems are heavily booked for 4 months of the year.
New and interesting concepts, I wonder if anyone has brought or leased into this and if so, how is it going?
What I am interested in, is a relatively cheap and flexible “seachange” with an investment that is looked after as necessary by the caravan park manager.
How ever, it would be good to hear from others if there are any potential “issues”, given it’s unusal nature.
The caravan parks are in good locations with 4 star ratings.
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