A NEW premium tourist precinct, which will include a 300-bed hotel and world-class outdoor concert amphitheatre, is set to be developed for the Yarra Valley region in Victoria.
The plan arrives after Cedar Mill Group added a 100-acre site on the Maroondah Highway (pictured) to its rapidly growing property portfolio, a parcel of land the company said would be cultivated into a major tourism attraction by 2024 at a cost of over $200 million.
Blueprints for the Cedar Mill Yarra Valley project also incorporate conference & function facilities, three restaurants, 20 boutique villa units, tennis courts, a lake and gardens precinct, as well as an arts and craft village.
Cedar Mill’s parent group, Winarch Capital, said the purchase was just one of many parts in a wider plan to introduce an array of tourism developments across the country’s two most populous states.
“This strategic purchase is the beginning of our rollout of multiple sites in Victoria, as we are currently doing in NSW,” Winarch Managing Director, Paul Lambess said.
“This marks the first interstate purchase that will begin our realisation of a national and international network.
“All venues will include world-class and purpose-built amphitheatres that the Cedar Mill brand will be known for.”
The development will also seek to leverage the existing six million annual visitors who already frequent the Yarra Valley, primarily for its appeal as a premium wine tour destination.
Part of the plan will also place an emphasis on attracting high-yield tourists, which will include offering visitors upmarket goods and services through local growers and operators providing boutique goods and dining experiences.
The post $200m Yarra Valley top-up appeared first on Travel Daily.
Source: traveldaily