Tasman Holiday Parks snaps up Tweed Coast’s North Star Resort for more than $50m

After four decades in the same hands a rare five-star caravan and holiday park close to the border with Queensland has a new owner after striking a deal that’s believed to be an Australian record for the sector.

The water park area inside The North Star Holiday Resort.

A rare 5-star rated caravan and holiday park on the Tweed Coast in northern NSW has sold for what is believed to be a record price.

Expanding Tasman Holiday Parks has settled on the acquisition of the North Star Holiday Resort in Hastings Point just over the Queensland border in NSW.

On a 10ha site at 1-3 Tweed Coast Rd, the property was marketed by RWC Burleigh Group agents Ryan Langham and Nathan Huxham on behalf of Diana Beadel and her late husband Ian, who had owned the park for four decades.

While the agents could not reveal the sale price, they said it was a record and is believed to have eclipsed the sale of the $50m plus sale Cairns Coconut Resort in 2017.

According to CoreLogic it sold for $30.58m which does not include the business and other features which would put the price well above $50m.

“It sold for an Australian record as it currently stands,” Mr Langham said.

“As a beloved family-owned establishment with a rich history and tradition of excellence, the North Star Holiday Resort holds a special place in the hearts of both guests and the local community.

“It’s a truly exceptional property that epitomises luxury and hospitality. The record-breaking sales price reflects the enduring appeal and value of premium hospitality assets, and we are confident that the new owners will continue the legacy of excellence established by the previous owners.”

The North Star Holiday Resort at Hastings Point in Northern NSW which sold for a record price for a caravan park.

Headquartered in Sydney and backed by equity group Tasman Capital, Tasman Holiday Parks has a portfolio of 40 assets in Australia and New Zealand

Led by Nikki Milne – who was previously chief operating officer at Ingenia Communities Group – Tasman Holiday Parks is the fastest growing owner, developer, and operator of holiday parks in Australia and New Zealand, doubling it portfolio in the last few years.

Mr Langham said they ran a four-week expressions of interest campaign and received five offers.

“In the end our vendor decided to go with the group that she felt could continue the legacy of her late husband Ian who reinvested everything they made back into the park over the years,” he said.

“The new owner will continue with the property in its current format and will rebrand it as a Tasman Holidays park.”

Just 25km south of the border on the Tweed Coast, the resort accommodates 330 sites, which include 133-holiday sites consisting of a variety of accommodation styles including cabins, villas, caravan sites and camp spots catering to various needs and preferences of visitors.

The park also accommodates 194 extended holiday or living options providing affordable long-term occupancy in caravans and manufactured homes.

It features a fully licensed cafe, two heated pools, water slides, a splash park, the marine museum, kids club, event and function hire rooms, a leisure centre featuring a lap pool, spa, sauna, gym, massage rooms, a hair salon and a BP fuel station.

Mr Huxham said he had a personal connection to the holiday park.

“It gave me goosebumps to represent the Beadel family in the sales process of this iconic property,” he said.

“Growing up in the area, I used to drive past the North Star every week, and my parents did the two week relief caravan park management training on site with Ian Beadel back in 1999.”