Tasmania’s picturesque ‘Pumphouse Point’ bought by motoring body the NRMA

Motoring organisation the NRMA has bought landmark Pumphouse Point on Tasmania’s Lake St Clair for about $20m.

Motoring organisation NRMA has splashed out about $20m for Pumphouse Point on Tasmania’s Lake St Clair, as it seeks to ride the wave of luxury tourism to the island.

Domestic travel is surging and Tasmanian retreats are in hot demand among both tourists and investors who are keen to capitalise on the stay-at-home crowd.

Pumphouse Point was the brainchild of nature-tourism entrepreneur Simon Currant, who helped set new standards for properties in Tasmania – and NRMA is billing its purchase as the next element of its expansion strategy into experiential tourism.

Once operating as a hydro-electric station, the two heritage industrial buildings have been transformed into a lavish, adults-only retreat.

Deep in the Cradle Mountain, guests are encouraged to disconnect from city life and reconnect with nature, surrounded by Tasmania’s Wilderness World Heritage Area.

There are a total of 19 rooms, with 12 rooms out in the Pumphouse, six in the Shorehouse and one exclusive retreat that sits on the lake’s edge, ranging from $560 to $1900 per night.

Views from Pumphouse Point.

NRMA Expeditions chief executive Rachel Wiseman said the acquisition of the Pumphouse Point business demonstrated the group’s ongoing commitment to the Tasmanian tourism industry, and its confidence in the state to continually deliver immersive nature-based experiences for guests.

“Nature-based tourism experiences are in high demand. We need exceptional accommodation that delivers amazing experiences in remote locations,” she said.

“Tasmania is abundant in natural beauty and we’re excited to share another unique location in Tasmania with our members and the community, and continue to work with local partners to promote the state and its amazing eco-tourism experiences,”

JLL Hotels and Hospitality’s Peter Harper and Nick MacFie brokered the deal.

Mr Harper said Pumphouse Point was one of the most exclusive boutique hotel experiences on offer in Australia.

“It took 21 years to obtain the necessary approvals and permits to repurpose the historic site, with the hotel offering understated luxury in an environment that showcases yet remains incredibly sensitive to its breathtaking surrounds,” he said.

Views across Lake St Clair. Picture: Rachel Vasiek

The offer drew interest from a number of well-known business tycoons, owner-operators and other hospitality players.

Mr MacFie said high-end boutique hospitality properties were highly sought after, regardless of where they were in Australia.

“These assets have proven their trading resilience in recent years and are achieving incredibly high occupancy and rate levels. Given current investor appetites, we expect further transaction and consolidation activity over the balance of this year and into 2023,” he said.

Pumphouse Point joins Freycinet Lodge, Cradle Mountain Hotel, Strahan Village and Gordon River Cruises in NRMA Expeditions property portfolio.