Merlin Entertainments, a UK-based visitor attraction operator, has recently announced the sale of two of its Australian assets – Otway Fly in Victoria and Illawarra Fly in New South Wales. This decision is part of Merlin’s global strategy to focus on developing clusters of attractions in key cities around the world. The attractions, which welcome over 100,000 visitors annually, are now available for acquisition either as freehold properties with vacant possession or as a going concern.
Ian Wood, divisional director for Merlin Entertainments in Australia and New Zealand, mentioned that while it was a difficult decision to sell these sites, it aligns with the company’s strategy to focus on the growth of city clusters, particularly in Sydney and Melbourne. Both Otway Fly and Illawarra Fly will continue to operate normally until the sale is completed or new ownership is confirmed. The attractions offer treetop walk and zip line experiences, along with visitor facilities such as cafes, car parks, and retail outlets.
The sale of these properties is being managed by Lachlan Castran and John Castran. They believe that the attractions have the potential to be successful tourism operations, while also offering great opportunities for private buyers or educational organizations due to their prime locations and existing infrastructure. The properties are currently being sold through an expressions of interest (EOI) campaign, with the deadline set for 5 December at 3pm AEST.
This sale not only represents a shift in Merlin Entertainments’ global strategy but also opens up new possibilities for the attractions industry in Australia. The sale through EOI allows for a wide range of potential buyers to consider the acquisition of these iconic attractions, which have been a source of magical memories for visitors over the years. The versatility and prime locations of Otway Fly and Illawarra Fly make them a rare investment opportunity for those interested in the attractions business.
In conclusion, the sale of Otway Fly and Illawarra Fly by Merlin Entertainments marks a new chapter for these iconic Australian attractions. As they continue to operate normally, potential buyers have the opportunity to acquire these sites either individually or as a combined acquisition through the ongoing EOI campaign. The future of these attractions is in the hands of new owners who can build upon the foundation laid by Merlin Entertainments and create even more magical memories for visitors in the years to come.
