Avari Capital Partners sees opportunity in land lease communities
- New fund: Avari Capital to convert two holiday parks into land lease communities
- 317 sites: Busselton and Cairns assets earmarked for redevelopment
- Noosa expansion: Plans lodged to add 50 homes at Sunseeker Resort
- Strong demand: CEO says every available home attracts multiple buyers
Real estate fund manager Avari Capital Partners says strong demand for land lease communities has convinced it to expand its presence in the sector.
Chief Executive and Partner Alan Liao said the firm had launched a new fund, seeded with two holiday park acquisitions earmarked for conversion into land lease communities.
“We have bought Busselton Holiday Village in WA, which has 141 sites, and are about to settle on Cairns Sunland Leisure Park, which has 176 sites, and both in time we will turn into land lease communities,” he said.
Founded in 2014, Avari Capital Partners is a Sydney and Melbourne-based real estate fund manager with more than $1 billion in assets under management.
The firm says it applies a private equity approach to real estate investment, targeting undervalued assets that deliver superior risk-adjusted returns. Its investor base includes private wealth clients, family offices, high-net-worth individuals and global institutional investors.
Alan said the firm’s confidence in the sector had been reinforced by the performance of Sunseeker Noosa Resort on Queensland’s Sunshine Coast, which Avari acquired using its own capital.
The approximately 100-site resort is set to expand, with Avari preparing to lodge a development application for a further 50 homes.
“When a unit becomes available, three people want to move in,” he said.
“We are getting better returns than we expected.”
