Winarch Capital’s newly-formed Cedar Mill Group has acquired a 100-acre site on the Maroondah Highway in the Yarra Valley for its third purpose-built outdoor amphitheatre and tourism project, expected to open in 2024 at a cost of up to $200 million.
A premium wine tourism destination, Yarra Valley already hosts over six million visitors per year.
Cedar Mill plans for the new site to house a 300-bed hotel, conference and function facilities, three restaurants, 20 boutique villa units, tennis courts, a lake and gardens precinct, arts and craft village, and outdoor amphitheatre to host live concerts and events from major local and global touring acts.
The vision for the site includes the delivery of a venue that is capable of hosting special events and corporate conferences and attracting tourists seeking high-end visitor experiences. This includes local growers and operators providing boutique goods and dining experiences inspired by the local agricultural heritage and winemaking.
The proposed $200 million project aims to bring thousands of additional visitors to the region and inject millions of dollars each year, delivering the Yarra Valley a major economic and jobs boost.
Winarch Capital and Cedar Mill Group Managing Director, Paul Lambess, said he was excited to announce the acquisition of the 100-acre site in the Yarra Valley.
“This strategic purchase is the beginning of our rollout of multiple sites in Victoria, as we are currently doing in NSW. This marks the first interstate purchase that will begin our realisation of a national and international network.”
Development plans for Cedar Mill Yarra Valley will be lodged in the coming months.
Last August, Cedar Mill Group also announced the purchase of one of the Hunter Valley wine region’s most premium development sites, in Pokolbin, for its second purpose-built outdoor amphitheatre and tourism project, expected to open late 2023 at a cost of about $150 million.
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