- The resort consists of 86 cabins and spa suites
- Elanaor says it has been approached by several parties off-market, prompting the listing
- The asset has a book value of $73.5 million
The famous Cradle Mountain Lodge, considered by many to be Tasmania’s best luxury resort, has been listed for sale by Elanor Investors Group.
The resort consists of 86 cabins and spa suites, covering a 11.4 hectare landholding. It is a two-hour drive from Launceston, the third oldest city in Australia.
Elanor recently spent $10 million as part of the asset’s refurbishment program, which sits under its unlisted Elanor Accommodation Fund.
UNESCO World Heritage-listed Cradle Mountain-Lake St Clair National Park is world renowned, having been named as one of Lonely Planet’s “Top 10 Most Extraordinary Places to Stay” among other lists.
Wayne Bunz of CBRE Hotels has been appointed to steer the international expression of interest campaign on behalf of Elanaor.
“Cradle Mountain Lodge is an iconic Australian brand with a coveted global reputation,” Mr Bunz said.
“Opportunities to purchase once-in-a-generation assets like this are scarce, especially given the capital appreciation and proven income flow that will make this trophy asset even more attractive to investors.
“We expect a high level of interest due to the calibre of the property and the high barriers to entry for new accommodation offerings in this exclusive World Heritage-listed location.”
Marianne Ossovani, Elanor Investors Group’s Head of Hotels, Tourism & Leisure, added: “After recently completing an extensive $10 million refurbishment program, we have received several off-market approaches by parties interested in acquiring the resort, prompting us to formally take Cradle Mountain Lodge to market.”
No price guide has been disclosed, but the property had a book value of $73.5 million as of June this year, suggesting offers could be as high as $100 million.
Accommodations at the resort include the contemporary pencil Pine Cabins through to luxurious King Billy Suites, with guest facilities including Highlands Restaurant, Tavern Bar & Bistro, Waldheim Alpine Spa, Lodge Boutique along with a range of event and conference spaces.
Currently, the Lodge is operated under Accor’s Peppers brand, with vacant possession available upon sale.
Along with its famous surrounds, the resort sources the majority of its produce from within a 160 km radius, which is also home to a range of unique flora and fauna including echidnas, wombats and wallabies.
The area is also set to benefit from the Cradle Valley Tourism Development Plan, backed by both the state and federal governments, which seeks to bolster visitor numbers by 40,000 annually.
“Cradle Mountain Lodge is a significant tourist drawcard, for domestic and international travellers alike,” Mr Bunz added.
“More and more travellers are seeking out destinations with a focus on eco-tourism, health and wellness and sustainability, and are willing to pay a premium for these experiences.”
