Cradle Mountain Lodge on the market after a $10m refurbishment

The resort is perched on the edge of the UNESCO World Heritage-listed Cradle Mountain-Lake St Clair National Park.

Cradle Mountain Lodge in the grip of winter.

Fresh from a $10m refurbishment, Tasmania’s world-renowned Cradle Mountain Lodge has been listed for sale by the Elanor Investors, with price expectations of $90m to $100m.

The wilderness experience, comprising 86 cabins and spa suites, occupies an 11.4ha landholding a two-hour drive from Launceston.

Elanor acquired the resort, located on the edge of the UNESCO World Heritage-listed Cradle Mountain-Lake St Clair National Park, for $38m in 2016.

With a focus on nature, health, wellness and food, Cradle Mountain Lodge is nestled within the ancient forests of northern Tasmania, a region known for its pristine natural beauty.

Accommodation options span contemporary Pencil Pine Cabins through to luxurious King Billy ­Suites, and guest facilities include the award-winning Highlands Restaurant, Tavern Bar & Bistro, Waldheim Alpine Spa, Lodge Boutique, and conference and event spaces.

“After recently completing an extensive $10m refurbishment program, we have received several off-market approaches by parties interested in acquiring the resort, prompting us to formally take Cradle Mountain Lodge to market,” said Elanor Investors head of hotels, tourism and leisure Marianne Ossovani.

CBRE Hotels’ Wayne Bunz is handling an international expression of interest campaign on behalf of Elanor Investors. Submissions are open until October 21.

A somewhat ethereal view of Cradle Mountain Lodge.

Cradle Mountain Lodge is operated under Accor’s Peppers brand and has the benefit of a franchise agreement, although vacant possession is available upon sale.

“Cradle Mountain Lodge is an iconic Australian brand with a coveted global reputation,” Mr Bunz said. “Opportunities to purchase once-in-a-generation assets like this are scarce, especially given the capital appreciation and proven income flow that will make this trophy asset even more attractive to investors.

“We expect a high level of interest due to the calibre of the property and the high barriers to entry for new accommodation offerings in this exclusive World Heritage-listed location.”

With a paddock-to-plate philosophy, the resort sources almost all of its produce from within a 160km range. Guests can take in clean mountain air, spectacular flora and fauna, including echidnas, wombats and wallabies.

The region’s tourism industry is set to benefit from the Cradle Valley Tourism Development Plan, which is backed by the state and federal governments and projected to increase visitor numbers by about 40,000 annually.

“Cradle Mountain Lodge is a significant tourist drawcard, for domestic and international travellers alike,” Mr Bunz said.

“More and more travellers are seeking out destinations with a focus on eco-tourism, health and wellness and sustainability, and are willing to pay a premium for these experiences.”