Eden Fisherman’s Club to get $100 million revamp

A Sydney developer is splashing $100 million to turn a small south coast town into a premier sporting and fishing destination.

A Sydney developer will invest $100 million in a four-tower complex, they say will reshape and revitalise Eden as a major NSW regional centre.

The move by developers Core Asset Development comes just months after the company’s managing director Mark Toma announced plans to build a $65 million Radisson Hotel at the site of the former Eden Fisherman’s Club.

The hotel is set to become the first five-star hotel south of Wollongong.

The Sapphire of Eden could bring as much as $100 million into the economy over the next few years.

The company plans to turn the town of just 3500 into a “leisure and sporting destination” for “higher-income visitors”.

Mr Toma said the newly announced towers, which will be called The Sapphire of Eden, will sit alongside the hotel, with construction set to begin in September, pending approvals.

“We are excited by this project that will give the south coast a much needed, private sector shot in the arm, providing tourist and residential accommodation - relieving pressure on surging prices by adding more rental stock at affordable prices into the market,” Mr Toma said.

“Merimbula Airport is seeing a significant lift in flight traffic as interstate and intrastate tourists take advantage of the subsidised airfares, with the resultant economic benefits flowing through the whole of the Bega Valley Shire.”

Developers announced plans to build a $65 million Radisson Hotel at the site of the former Eden Fisherman’s Club in January.

He said the development will bring $100 million and 1000 jobs into the economy over the next three to five years.

Bega Liberal MP Andrew Constance welcomed the news, adding the region was heading for “a massive growth spurt”.

“The area is primed for much more,” he said.

“We are going to continue to turbocharge this region because of the bushfires. Everything is just coming together at the right time.”

Bega Liberal MP Andrew Constance said the region is headed for a “growth spurt” after a terrible 2020. Picture: Christian Gilles

Eden Fisherman’s Club Group CEO Andrew Terry said the new businesses would add 22,000 more visits to the town each year, and a family theme park may also be planned for the future.

The group has been struggling financially for 25 years, and has turned a profit in just one year out of the last 12.

Mr Terry said the planned senior’s lifestyle village, which was made possible by the sale of the club to Core Asset Development, is progressing.

“It is an exciting time for us, and a difficult time for us (after the bushfires and COVID-19),” he said.

“We may finally become a phoenix rising from the ashes.”

The new towers will overlook the pristine Eden coastline.

Bega mayor Russell Fitzpatrick has assured residents the new developments would not exceed height regulations.

Mr Constance said the cruise ship industry, devastated during the pandemic, is looking to “dip its toes back in the water”, with Eden an important part of the future growth of domestic travel.

He said national requirements are needed before the cruise ban is lifted, including workforce vaccination programs.

“We’ve got to make sure we manage COVID well in these circumstances,” he said.