Prime Jindabyne land for sale as Snowy Mountains masterplan moves ahead
A large parcel of land in Jindabyne, primed for a possible luxury tourism resort, has been listed for sale following a decade-long battle to have the site rezoned.
The redevelopment of the land, to be called Lake Jindabyne Village, is a significant part of the $391.3 million masterplan for the NSW Snowy Mountains.
Known as Rabbits Corner, the 21-hectare parcel of land is located on the corner of Alpine Way and Kosciuszko Road, the intersection leading to Perisher and Thredbo ski resorts.
It is understood land of that size and location could see buyer interest close to $40 million.
The site – which combines two lots – has been rezoned for tourism purposes and now permits tourist accommodation, indoor and outdoor recreation, eco-tourism and food and drink outlets.
The owner of the land, developer Toni Sarri, had attempted to rezone the land several times over the past 10 years.
Lake Jindabyne Village is one of the key elements of the NSW government’s Snowy Mountains Special Activation Precinct.
The NSW government has committed $391.3 million to deliver the 40-year strategic plan which aims to create a modern alpine village and “year-round tourism destination”.
As outlined in the plan, Lake Jindabyne Village is designated for medium-density tourist accommodation, a small commercial component and green infrastructure – which could incorporate solar energy and sustainable building methods.
It will eventually be within close proximity to a new mountain bike and adventure park, sport and education facilities and improved town centre.
Burgess Rawson has been appointed to sell the Lake Jindabyne Village site.
Guy Randell, managing director of Burgess Rawson Canberra, said it would appeal to developers, commercial accommodation providers, hotel and resort groups and individual owners.
“There’ll be certainly interest from a lot of Canberra developers and national developers,” he said.
“Internationally, it really stands out to resort operators, to groups that have got … the funds and capital where they can hold this asset long-term.”
He said the site presented an opportunity for the right buyer to get started on plans immediately.
“The state government have done an enormous amount of planning from surveying to environmental and economic,” he said.
“So this is at a position where someone who buys it can actually work on a [development application] straight away to put before council and deliver.”
It is unclear how many dwellings would be permitted on the site, however the development intends to add supply to Jindabyne’s tight holiday rental market.
This winter, short-stay accommodation reached an average daily rate of $766 for one week in July.