Eco-tourism attraction the Otway Fly has been listed for sale, offering buyers a chance to continue operations or explore new options at the scenic rainforest property.
Merlin Entertainments is offloading the 81ha freehold site best known for its 600m treetop walk suspended 25m above the forest floor.
A zip line experience with nine cloud stations and 165-seat cafe further adds to the experience of visitors seeking out nature and adventure in the heart of the Otway Ranges.
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The sale comes as Merlin, a global leader in branded entertainment destinations such as Legoland and Madame Tussauds, focuses its energies on attractions in key cities.
It is also selling the Illawarra Fly in New South Wales, which can be purchased separately or as a combined investment.
Both assets will be sold with vacant possession or as an ongoing concern via an expressions of interest campaign through Castran agents Lachlan and John Castran.
Merlin Entertainments ANZ division director Ian Wood said the Otway Fly would continue to operate until the sale was completed or the direction of the new owner was confirmed.
“While listing the sites of Illawarra Fly and the Otways Fly in Victoria was a difficult decision, it aligns with Merlin’s global strategy of focusing on the growth of the city clusters,” Mr Wood said.
“We are extremely proud of the positive impact these sites have had on thousands of local and international guests over the years.
“We want to thank our dedicated teams who have created magical memories for 21 years at the Otway Fly.”
Price hopes for the substantial landholding, at 360 Phillips Track, Weeaproinah, are $2.8m to $3m.
A 47m-high spiral tower offering panoramic views of the surrounding rainforest is the centrepiece of the site, which is about two-and-a-half hours from Melbourne and benefits from the 5.4m visitors to the Great Ocean Road annually.
Lachlan Castran said as well the established tourism operation, there was scope to pursue alternative uses such as an outdoor education facility, wellness retreat, eco lodge or a private residence.
“These assets are well-positioned to continue as successful tourism operations but they also offer extraordinary potential for private buyers or educational organisations,” he said.
Extensive visitor facilities at the site include the cafe, 140 carparking spaces and a retail outlet.
John Castran said the Otway and Illawarra properties were easily accessible and popular with both domestic and international visitors.
Together, they welcome more than 100,000 patrons annually.
“The versatility and prime locations of these properties, combined with their substantial infrastructure, make them a rare investment opportunity,” he said.
Expressions of interest close on December 5 at 4pm.
