Cedar Mill Group has acquired a 100-acre lot of land in Victoria’s Yarra Valley as part of a $200 million project to transform the site into an outdoor amphitheatre and prime tourism destination.
Slated to open in 2024, the area will feature a 30,000-person concert venue in addition to a 300-bed hotel, conference and function facilities, three restaurants, 20 boutique villa units, tennis courts, a lake and garden precinct and arts and craft village.
Development plans for the site – situated on Maroondah Highway - will be lodged in the coming months, with the construction phase estimated to create more than 500 jobs.
“This strategic purchase is the beginning of our rollout of multiple sites in Victoria, as we are currently doing in NSW,” Winarch Capital and Cedar Mill Group 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.”
Founded in 2020 by property investment firm Winarch Capital, the Yarra Valley development marks Cedar Mill Group’s third outdoor amphitheatre and tourism project.
It comes more than a year after Cedar announced the $235 million redevelopment of Morisset Golf Course, which will be transformed into one of Australia’s largest aquatic play parks and feature a 30,000-person concert venue, hospitality precinct and accommodation. Upon completion, the site will be renamed Cedar Mill Lake Macquarie.
Last August, the group also purchased a site in Pokolbin, NSW to create its second purpose-built outdoor amphitheatre and tourism project at a cost of $150 million.
“The Victorian event and tourism market has always been a priority for us, so we are thrilled to be on such a quality site in the Yarra Valley.” Winarch Capital and Cedar Mill Group CEO Kyle McKendry said.
“Great things ahead for Cedar Mill Group in Victoria and a fantastic addition to the regional tourism market, delivering employment and economic benefits for the Yarra Valley.”
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