Forrests’ triple property reveal includes Margaret River retreat, New Norcia farmland, Cottesloe revamp

An aggressive push into rural and prestige properties by West Australian billionaires Andrew and Nicola Forrest has this week seen them reveal a redevelopment of the Indiana Teahouse in Cottesloe and purchase a South West retreat and 8000 hectares of farming land around the monastic town of New Norcia.

The latest purchase was for the Cape Lodge Hotel in the state’s Margaret River region for $9.25 million off fellow WA rich-listers Peter and Joelle Larsen.

Andrew and Nicola Forrest’s investment arm has been busy with a new design for the Indiana Teahouse in Cottesloe and two rural purchases in New Norcia and the South West.Credit: Kate Geraghty/Supplied

The property is the Forrests’ first foray into the luxury property in the region with the estate including an eight-acre private vineyard which produces sauvignon blanc and shiraz exclusively for the on-site hotel.

There are 22 rooms at the hotel and an additional five-bedroom private residence along with a restaurant and conference facilities.

Cape Lodge has previously been voted ‘Best Boutique Hotel in Australia’ by Luxury Travel Magazine and will be part of the Forrest’s lifestyle brand ZIZ, which itself falls under property arm Fiveight and their overarching investment company Tattarang.

ZIZ includes iconic Australian boot brand R.M. Williams, the Cooee Restaurant in Perth and the recently purchased Gaia Retreat and Spa near Byron Bay in New South Wales.

The NSW retreat, which was part-owned by Olivia Newton-John, was purchased for about $30 million in October.

The Forrests are also investing in an eco-resort in Exmouth on WA’s picturesque Ningaloo coast and spent $42 million on a leasehold for Lizard Island at the Great Barrier Reef in Queensland.

Three years ago, the Forrests bought the 6000-acre De Mole coastal estate on Kangaroo Island but have not had any development plans for the property.

A new design for Cottesloe’s Indiana Teahouse was revealed on Sunday and came after a public design competition stalled and the precinct the building is located in was heritage listed.

The beachfront building has a heritage-style design despite only being built in the 1990s.

Margaret River’s Cape Lodge.

The Forrests received a lease from the Cottesloe council over the building several years ago but a public competition to redevelop the site resulted in four designs where the existing structure would have been demolished.

Architecture studio Woods Bagot helped create the new design, which would see the reinforcement of the existing Indiana and the construction of a second building behind it with new restaurants, cafés and a kiosk spread over the site.

Plans for the redevelopment have been submitted to the Cottesloe council.

Mrs Forrest said she shared the community’s wish to preserve the western facade of the Indiana for the future.

“ As the committed custodians of this important site, we believe Indiana can, and should, play a more meaningful role in the lives of locals and visitors alike, and our ambitions are clear: we want to deliver the best beachside precinct in Australia; one for all Western Australians to enjoy,” she said.

A render of the new design for the Indiana Teahouse in Cottesloe.Credit: Tattarang

The Forrests’ growing commercial food arm, Harvest Road, will benefit from the planned purchase of 7975 hectares of farmland around the New Norcia monastery in WA’s Wheatbelt.

It is the first time the farming land has changed hands since the monastic town was established some 175 years ago.

The property came up for sale in September as the order faced rising costs to compensate historical sexual abuse survivors.

So for the New Norcia monks have had to pay out more than $10 million to sexual abuse survivors and there could be more money to come as the national redress scheme is set to last until 2028.

Harvest Road chief executive Paul Slaughter said the farm was close to the company’s new feeding facility in Koojan Downs which would open next year.

“Together with New Norcia Farm, our network of integrated supply chain assets represents a game changer for WA and strategic step to mitigate against changing climatic conditions, stabilising the local beef supply chain and enhancing the local economy through investment and local job creation,” he said.