Commercial Collective, in conjunction with Stonebridge Property Group, are marketing Toboggan Hill Park in Nelson Bay through expressions of interest, closing March 3.

After operating the business for the past 33 years, Mr Leacy said the owner-operators were moving on to the next chapter in their lives and the freehold land as well as the operational business at 16 Aquatic Close were for sale.

"It's the going concern and the parcel of land that we're selling, so that's a little bit unique in itself," Mr Leacy said.

"There's an operational business that you can take on as well as a freehold land component as well.

"The appeal is probably two-fold: No.1, it's location and, No.2, it's a lifestyle business at play.

"It's a well-known facility for the region and it's trading extremely well at the moment because of COVID and the Christmas break."

A price guide for the property has not been disclosed.

Toboggan Hill Park is a 2.6-hectare freehold site located in one of the state's tourism and sea change hotspots.

Mr Leacy said areas of the property presented significant development opportunities, which could be focused-on, aligned with or completely separate from current operations, subject to council approval.

It is located within around 200 kilometres of Sydney and around 60km of Newcastle.