Buyers sing the right tune on original home of Falls Festival
An interstate buyer sings the right tune for the sellers of the original home of the Falls Festival site near Lorne.
The music may have long faded into the distance at the original home of the Falls Festival near Lorne, but the property may not be silent forever.
The famous Great Ocean Road hinterland property has sold after a second attempt as a New South Wales buyer emerged to secure the 68ha farming site from Live Nation Australia.
Ray White Rural Victoria director Jason Hellyer, who handled the sale, said the property presented as a lifestyle, tourism or education opportunity that attracted seven written offers by the end of the campaign.
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The property has ultimately sold for at least $2.5m.
At its peak, the Erskine Falls Rd property was capable of accommodating more than 15,000 music fans at the annual New Year’s Eve multi-day event.
The Otways property near the Great Ocean Road resort town hosted the Falls event between 1993 and 2018.
The owners poured a significant investment into the Falls Festival site to accommodate music fans and Australian and global artists, such as Iggy Pop, Blondie, Silverchair, The Black Eyed Peas, Billy Bragg and Radio Birdman.
The last event at Lorne was cancelled after one night because of extreme fire risk, which ultimately forced organisers to seek an alternative site.
Attempts to relocate to a venue near Birregurra failed to gain planning permission from the Colac Otway Shire.
A farm manager has maintained the property, which hosts an impressive list of buildings and infrastructure, including the main stage.
Mr Hellyer said the site offered significant upside for buyers considering short-stay accommodation or commercial opportunities, such as a school camp.
The Great Ocean Road attracts more than 7 million visitors a year.
Although some of the concert infrastructure has been relocated to other sites around the country, the main stage, medical centre, 3-phase power and water infrastructure remain.
There’s also a network of drivable tracks that traverse through the Otway forest leading to a campsite complete with a kitchen hut.
There was widespread interest in the property from Melbourne and even one from Malaysia, Mr Hellyer said.
“It’s a nice parcel of land that plenty of people wanted to learn more about,” he said.
“We probably ran about 20 inspections.”
Mr Hellyer said the majority of interest was in the hospitality and tourism aspects offered at the property.
“It’s fair to say that it sounds like that’s the intention with the new purchaser.”
Originally published as Buyers sing the right tune on original home of Falls Festival