Press Release from Aventuur:
Aventuur has secured institutional investment from the Royal Automobile Club of Western Australia (RAC), along with further investment from existing project partner Wyllie, for the Perth Surf Park.
This is a significant milestone for the project, and will enable construction to commence later this year, with a public opening slated for late 2027.
The Perth Surf Park will deliver an iconic tourism, sport, leisure, and entertainment destination for Western Australia. Located in Central Cockburn, the $120m surf park is expected to welcome up to 1 million guests per year to enjoy world-class surfing, wellbeing, and hospitality experiences.
At the heart of the Perth Surf Park is a 2.2ha Wavegarden Cove surfing lagoon – around the same size as Optus Stadium – offering guaranteed perfect waves for everyone in a safe, controlled environment. The park’s lagoon will incorporate the latest design features from Wavegarden to deliver the most advanced wave pool in Australasia, including new swimmable side shores and offering customisable waves to suit all abilities.
Aventuur Chair and Chief Development Officer, Andrew Ross, said he was delighted to welcome RAC as an investor in the project, and to have secured follow-on investment from Wyllie.
“The Perth Surf Park represents the first major tourism attraction to be delivered in Perth in over 25 years and is currently the single largest private investment in tourism infrastructure in the State. Both RAC and Wyllie have a long history of supporting tourism ventures, and their investment in this once-in-a-generation project is just the latest example of this enduring commitment to investing for the benefit of the Western Australian community,” he said.
“From the outset, our approach has been to deliver an authentic, sustainable surf park for Perth that is ‘by the West, for the West.’ Now, with the support of two reputable WA institutional investors, and our dedicated WA-based project team, we’re ready to start building.”
Established in 1905, RAC has proudly served Western Australians for over 120 years. RAC Group CEO Rob Slocombe said RAC’s investment in the Perth Surf Park continues the membership organisation’s support of WA tourism over many decades.
“RAC has a long and proud history of supporting WA tourism, be it via our parks and resorts portfolio, our advocacy for safer and easier travel, our sponsorship of the RAC Arena, and now through our investment in Aventuur’s Perth Surf Park,” he said.
“We’re proud to be investing in a soon-to-be iconic West Australian destination which will provide the WA community a unique, world-class experience, with RAC members set to gain access to a range of member benefits and exclusive offers.”
The Perth Surf Park will create more than 280 jobs during construction and around 100 full-time positions once operational. It is expected to deliver a gross economic contribution of more than $300 million to the WA economy during its operating life.
With institutional investment from RAC and Wyllie now secured, Aventuur is planning to commence construction of the Perth Surf Park in the second half of 2025, with further details to be provided at that time.
Famille Capital acted as exclusive financial adviser to Aventuur on this landmark transaction.
You must be logged in to post a comment Login