David and Suzanne Bassingthwaighte emerge as buyers of Barkly Homestead

One of the Territory’s most well-known accommodation businesses has changed hands in a major $14m deal.

ONE of the Territory’s most well-known accommodation businesses has changed hands in a major $14m deal.

Barkly Homestead, built in 1984 about 200km east of Tennant Creek, has over the decades become a popular destination for travellers and truckies alike while also ­providing vital services and supplies for the surrounding community.

Queensland-based David and Suzanne Bassingthwaighte have emerged as the buyers of the multifaceted business set on more than 12ha of land that even includes an airstrip and hangar.

ResortBrokers managing director Trudy Crooks, who handled the deal, said the homestead was “perfectly set up” for a new operator to take it to the next level following strong year on year growth.

“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,” Ms Crooks said.

An aerial view of the Barkly Homestead, set on 12ha with accommodation for 150 guests. Picture: Supplied.

“There were also opportunities for expansion across the whole suite of operations areas, including expanding the accommodation, food and beverage, the tourist services and the fuel service.”

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 about 60 powered van sites and unlimited other sites without power.

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

“There are 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,” she said.

“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 come yet.”