Town’s $11m price tag

A FORMER Hydro town in Tasmania’s Central Highlands is back on the market with a 90ha rezoned residential opportunity.

The town was listed on Monday and will be sold by expressions of interest in excess of $11m.

EIS Property consultant Edward McKay described Tarraleah Estate as a “remarkable opportunity”.

“It is such an interesting place with its infrastructure, housing, five types of accommodation, the multiple restaurants … the cost to build it today would be tens of millions,” he said.

“The property presents an unprecedented opportunity for a developer to craft Tarraleah into a contemporary tourist oasis, or return it to a residential estate reminiscent of yesteryear.”

Mr McKay said the town had been redeveloped over the past 17 years to become a tourism destination that was popular with international and interstate tourists.

He said the rezoning as “village

residential” allowed its next owner the opportunity to develop residential blocks up to 1000sq m.

“There is so much potential to create an ‘experience’ here,” he said. “While remote, it is also well located in an area buzzing with outdoor activities while also being about 40 minutes’ drive from Lake St Clair or two hours from Strahan.

“Tarraleah’s next owner could develop an agritourism, paddock-to-plate resort experience; a technology incubator retreat for the tech industry; a hospitality school; or a resort surrounded by forests and with the potential to develop mountain-biking trails.”

The 147ha township is home to the award-winning 1930sbuilt luxury food and accommodation business, Lodge at

Tarraleah, alongside multiple function centres including a redeveloped church, cafes, restaurants, a community of cottages, a caravan park and bushwalks to explore.

There is a trout-stocked lake that would be a prime spot for water sports, kayaking or fly fishing.

Mr McKay said there were two lakeside villas in place, plus a construction masterplan for 21 lakeside homes.

The property has town water supply, a dam, electricity, sewerage, NBN infrastructure and road networks.

“It is a remarkable property with endless possibilities,” Mr McKay said.

“Tarraleah is also well positioned to take advantage of the huge accommodation budget that will be a part of the $650m Tarraleah Power Station redevelopment.”

Tarraleah was built in the 1930s to accommodate Hydro workers, eventually growing to almost 2000 people. It fell into disrepair in the 1980s and 90s.

Tarraleah has been owned by Julian Homer since 2006. A bid to sell the town a few years ago was unsuccessful.