Pelligra, investment group snaps up KI tourism portfolio
Investors behind a $20m golf course on Kangaroo Island have been busy buying more tourism properties, including a well-known hotel.
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The backers behind the development of a $20m golf course on Kangaroo Island have doubled down on their investment in the region, taking over a portfolio of tourism sites including a pub and accommodation properties.
Pennington Cliffs Property Trust, backed by Melbourne property developer Ross Pelligra, has acquired the Seafront Hotel on the esplanade at Penneshaw, together with the nearby Seafront Holiday and Caravan Park and Penneshaw Hotel and bottle shop.
The Terraces self-contained accommodation site in American River has also been acquired by the trust, which will take over ownership of the properties in May.
Plans are currently being developed to upgrade the newly acquired sites.
Pennington Cliffs’ Sam Atkins, who is also managing director of the newly established Seafront Group – which will manage the newly-acquired assets – said the acquisitions demonstrated his group’s commitment to supporting Kangaroo Island’s recovery from Covid-19 and the 2020 bushfires.
“Attracting major events, having the cruise ships and domestic flights return, the significant long-term investment by Sealink and the government in the ferry service, and adding new experiences to the already amazing array of experiences on Kangaroo Island are just some of the areas we will be focusing on,” he said.
“We have specifically focused on the Dudley Peninsula as the gateway to Kangaroo Island, and are working closely with the council and community to add value to one of Australia’s truly unique seaside towns and one of Australia’s most recognised islands.
“These assets will all provide strong operational and financial synergies across the Seafront Group, with each asset benefiting from the success and development of the other.”
Pelligra Group announced late last year it would inject $50m into the Pennington Cliffs Property Trust, partnering in the development of the golf course and other tourism sites on the island.
Pelligra Group chairman Ross Pelligra said the investment would create much-needed jobs and economic activity on the island as it emerges from the pandemic.
“We instantly recognised the beauty and potential of Kangaroo Island and the passion and understanding for Kangaroo Island led by the investment group,” he said.
“We are genuinely excited to be involved in this very important and dynamic development for Kangaroo Island and South Australia moving forward.”
Preliminary site works for The Cliffs golf course, near American River between Pelican Lagoon and Pennington Bay, began late last year.
The initial $20m stage will include construction of the links-style golf course, designed by renowned golf course architect Darius Oliver, and a clubhouse. It is expected to open in April 2023.
Future stages will include a hotel, restaurants and conference facilities as well as villas on residential allotments.
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