Knights Tourist Park Fund's initial acquisition was the FreeSpirit Resort - Darwin, a four star tourist park facility on the Stuart Highway, Palmerston, Northern Territory, approximately 17 kilometres east from the Darwin CBD. Covering 11.25 hectares, the Resort comprises 20 motel rooms, 131 ensuite cabins, 10 cabins without ensuites and 269 caravan park sites. A BP service station is also part of the asset.

FreeSpirit Resorts Pty Limited has agreed to lease and operate the resort for an initial period of ten years.

Location:	907 Stuart Highway, Palmerston, NT
Property type:	Tourist park
Valuation:	$23.0 million
Valuation date:	23 February 2011
Cap rate:	9.75% & 12.5%

More information: www.freespiritresortdarwin.com.au