12 September 2022

Development opportunity on Australian rooftop set to break the Snowy Mountains record

| Dione David
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Aerial of land parcel near Lake Jindabyne

Aerial shot of the 21-ha lakeside parcel in Jindabyne indicating what could be developed on the site. Photos: DNA Architects.

A rare development opportunity for sale in ‘Australia’s Alpine Playground’ is expected to score a record price for the Snowy Mountains.

Lake Jindabyne Village is a 21-ha lakeside land parcel on the corner of Alpine Way and Kosciuszko Road in Jindabyne, about 25 minutes from Thredbo and Perisher.

Burgess Rawson Canberra is tasked with selling the parcel skirting the shores of Lake Jindabyne, billed as a “strategic development opportunity” for “a savvy developer, resort group or Build To Rent operator to build a truly world-class resort”.

Aerial of a parcel of land by Lake Jindabyne

Aerial shot of the land in Jindabyne.

This winter, Jindabyne attracted a $760 average nightly rental price tag, promising “outstanding returns” for the buyer of this Snowy Mountains gateway.

The land parcel is also central to one of six precincts earmarked as a Special Activation Precinct (SAP) – a dedicated area in a regional location that the NSW Government will transform into a thriving business hub.

The 40-year Snowy Mountains SAP master plan will be a key enabler of the enormous growth projected for the area, positioning it as a year-round leisure destination.

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The plan proposes major infrastructure upgrades, including a town centre bypass, gondola lifts directly opposite Lake Jindabyne Village, and a world-class mountain biking and adventure playground with more than 100 km of trails.

Aside from accommodation and leisure, the parcel’s SP3 tourism zoning enables a range of uses, including food and drink establishments.

Upon completion around 2060, the considerable investment in the area will allow for further regional expansion. Yearly visitor numbers are expected to double to about 1.35 million, representing a $470 million annual boost to the local economy.

Aerial of a parcel of land by Lake Jindabyne

More than 80 inquiries have been made for the site so far.

The land parcel has a price guide upwards of $37 million which, if reached, will set a new record for the region.

Burgess Rawson Canberra managing director Guy Randell says interest has been “crazy” so far.

“I must’ve had about 80-odd enquiries already, from a mixture of developers, land owners, hotel operators in the area, hotels groups and Build to Rent operators from Melbourne, Sydney and all over Australia to Singapore and a few international hotel groups,” he says.

“I think the price guide we’ve given will represent very good value for someone.”

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Guy says the land’s potential is a great thing for both locals and visitors.

“At the moment, worker and tourist accommodation is almost impossible to get throughout the year. This will allow more people to come to the region, bringing business to the local bars, cafes and services,” he says.

“It’s a great outcome for Jindabyne and the Snowy Mountains, driving further economic development to the region, which is the intent around the NSW Government plans in the Snowies.”

Aerial of a parcel of land by Lake Jindabyne

Jindabyne is now a year-round destination for thrill-seekers and holidaymakers.

Guy says the parcel’s position from Canberra, Sydney and Melbourne, combined with its status as a key strategic site in state government planning, make Lake Jindabyne Village a “high profile” development opportunity the likes of which he hasn’t seen in the region before.

“If you’re going to the snowfields, you’ll know this site,” he says.

“With the mountain biking trails just opposite, you’ll have world-class biking available eight months of the year and quick access to Perisher and Thredbo for winter sports. Plus there will be direct commercial opportunities with restaurants, bars and perhaps a friendly boutique brewery.

“This is going to be an all-year-round destination.”

Expressions of interest for Lake Jindabyne Village close on 31 October.

Original Article published by Dione David on Riotact.

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