Decmil Limited to sell Calliope ‘Homeground’ worker’s village near Gladstone

One of Central Queensland’s largest accommodation facilities has been placed on the domestic and international real estate market. Read the full details here.

ASX listed construction and engineering Company, Decmil Group Limited has engaged international real estate expert Colliers to manage the sale process of the company’s multi million dollar accommodation village ‘Homeground’ located just outside of Gladstone.

Amid the Central Queensland industrial boom, Decmil launched commencement of the four stage project in 2012 valued at $70 million.

Birds eye view of Homeground Gladstone. Picture: Rodney Stevens

Decmil subsequently benefited greatly from the thriving Gladstone region, jumping at an opportunity to house up to 1400 workers involved in the construction of three LNG plantations at the time.

In 2021 the facility was under scope by the Queensland Government for International COVID-19 quarantine purposes.

Speculations around the National Rugby League relocating teams to Central Queensland to use the vacant accommodation away from Covid hot spots also circulated.

In a recent statement, the company has committed to enhancing the marketing of it’s ‘Homeground’ asset in light of Covid-related travel restrictions significantly easing and the substantial improvement to project activity in the region.

Decmil’s international Expressions of Interest sales campaign, managed by Colliers Real Estate, is due to close on July 4.

The sales process is expected to take several months.

The company has declared it is open to undergoing a triple net lease of 20 plus years with the initial net income at $6m per annum and 3 per cent fixed reviews year on year.

Further promising to assist with the regular operations and maintenance of the camp to accommodate future projects in the catchment.

The luxury accommodation facilities at Homeground Gladstone Village includes a recreational room, an on site personal trainer and tennis court. Photo: Campbell Gellie

Decmil interim CEO Vin Vassallo believes “the asset itself is increasingly commercially attractive” and expects ‘Homeground’ will return to strong profitability during FY22 and beyond.

“The Gladstone region as a whole gives us confidence to provide attractive lease terms to an incoming owner,” he said.

“During periods of high energy prices, project activity tends to increase and ‘Homeground’ occupancy is strong.

“Additionally, it will reinforce our long-term commitment to regional Queensland, where we are currently executing a number of civil projects and have a strong pipeline of potential work throughout the region.”

Escalated discussions surrounding hydrogen plantations within the greater Gladstone region might be a saving grace for the village.