The NRMA has today announced the acquisition of Pumphouse Point, an iconic retreat on Lake St Clair, Tasmania, adding to its portfolio of Tasmanian tourism assets. The acquisition was negotiated by JLL Hotels & Hospitality Group’s Peter Harper and Nick MacFie.
Pumphouse Point, which operates on land subject to a Crown lease, is a unique wilderness retreat on the edge of Lake St Clair. It builds on the NRMA’s investment in properties in Tasmania, and
marks the next phase of the NRMA’s expansion strategy into experiential tourism.
The retreat features two heritage industrial buildings which have been transformed into a unique and inclusive experience for guests to disconnect and reconnect against the tranquil backdrop of Lake St Clair.
NRMA Expeditions CEO Rachel Wiseman said the acquisition of the business provides another opportunity for the organisation to showcase Tasmania’s exceptional natural environment and the
best regional Australia has to offer.
“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,” Ms Wiseman said.
“Nature-based tourism experiences are in high demand. We need exceptional accommodation that delivers amazing experiences in remote locations.
“These are precious places that have significant meaning to our biodiversity and local communities. We recognise the role we must play as the caretaker of these places to make sure they are able to be enjoyed in a sustainable way.
“The acquisition of the Pumphouse Point business demonstrates the NRMA’s ongoing commitment to the Tasmanian tourism industry, and our confidence in the state to continually deliver immersive nature-based experiences for guests.”
“Pumphouse Point offers one of the finest and 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,” said Peter Harper, Managing Director and Head of Investment Sales Australasia.
He added, “We were in a very privileged position to be entrusted by the ownership consortium to undertake a discreet off-market sale process. Testament to the property’s reputation and sale strategy employed, the offering attracted interest from a number of well-known high net worth individuals, owner-operators and other existing stakeholders in this asset sub-class. We congratulate The NRMA on their purchase and look forward to watching the asset continue to flourish under their custodianship.”
Nick MacFie, Vice President, noted “The sale of this asset is a further example of how unique and high-end boutique assets remain highly sought after regardless of where they are located across the country. 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.”
Pumphouse Point is the latest acquisition in the NRMA Expeditions portfolio. Other properties in the portfolio include Freycinet Lodge, Cradle Mountain Hotel, Strahan Village and Gordon River Cruises.