1 June, 2022

Cedar Mill Group acquires Yarra Valley site, shares plans for tourist precinct

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.

It follows the previously announced $235 million redevelopment of Morisset Golf Course, to be known as Cedar Mill Lake Macquarie, with plans for a 30,000 person concert venue, cafes and restaurants, accommodation and Australia’s largest aquatic play park. Construction is underway.

Last August, Cedar Mill Group also announced the purchase of a Hunter Valley wine region 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.

A premium wine tourism destination, Yarra Valley already hosts over six million visitors per year.

There are plans for Cedar Mill Yarra Valley, which is just over one hour’s drive from Melbourne central, 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, of course, winemaking, distilling and brewing.

The proposed $200 million project will 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: “I’m very excited to announce we have secured a prime 100-acre site in the heart of the Yarra Valley, to be known as Cedar Mill 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.

“All venues will include world-class and purpose-built amphitheatres that the Cedar Mill brand will be known for.”

Winarch Capital and Cedar Mill Group CEO, Kyle McKendry, said: “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.

“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.”

Development plans for Cedar Mill Yarra Valley will be lodged in the coming months, with the construction phase estimated to create over 500 new jobs and inject upwards of $200 million through build costs, job creation, supply chain and consumption over the next two years.

The purchase of the Yarra Valley site further cements Cedar Mill Group’s plans to play a major role in the return of live events and tourism after a challenging period of international and state border closures, and unpredictable lockdowns caused by the COVID-19 pandemic.

Lambess and McKendry are actively searching for future Cedar Mill sites across Australia.

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Cedar Mill Group Kyle McKendry Paul Lambess Winarch Capital yarra valley