|Knotts Crossing Resort is a unique offering in the town of Katherine NT. Spread over nearly 10 acres, the property offers a wide mix of accommodation types, good dining and a unique canopy of established trees.
Katherine is located in the major highway three hours south of Darwin. As the entry town to the Katherine Gorge, a gateway town for Kakadu and Litchfield NPs, it is a tourism mecca, especially in the peak winter season. Knotts crossing is a special offering in town and provides non-seasonal accommodation to the government workers who visit Katherine and the region to service its residents and infrastructure.
TARHF have purchased the property as a freehold passive (landlord). The operator has been at the property for many years and knows the town and property well. The tenant bears the responsibility for much of the maintenance and upkeep of the property. Rent reviews are annual and to CPI and it is likely that the tenant will wish to extend the remaining options on the lease which will incur an additional charge.
For the fund, this property provides excellent returns, a diversified and reliable income and considerable upside potential.