The owner of the Yeppoon Surf Lakes wave pool has put the central Queensland site up for sale after it sat dormant and was decommissioned. The prototype was a world-first when it opened in 2018 and received rave reviews from surfing legends including world champion Mark Occhilupo, while celebrity Chris Hemsworth also visited.
The facility, located halfway between Rockhampton and Yeppoon, was developed as a research and demonstration facility and was set up as invitation-only with plans to eventually open to the public, but that never eventuated.
In a statement released Tuesday, Surf Lakes Queensland managing director and Surf Lakes global chief operating officer Lewis Glynn said agents were inviting interest from prospective surf lake developments or buyers considering other uses.
"Yeppoon enabled Surf Lakes to test its technology at full scale and showcase it to investors, commercial partners and prospective licensees from around the world," Mr Glynn said. "Our team, shareholders and the local community have all contributed to that journey, and we are grateful for their support."
The sale includes council approvals from 2022 for a tourism development, with plans for glamping and camping sites, cabins, restaurants, a scuba pool, skate park and learn-to-surf lagoon, powered by a solar farm. A second stage included a boutique hotel, aqua park and village green, and was estimated to attract up to 300,000 visitors a year.
The site is understood to be on the market for about $4 million.
Capricorn Enterprise chief executive officer Mary Carroll said the rural nature of the site would make it difficult to market because it was specifically built and located to be a surf park. "The real estate agents have a job to do and the market will decide whether that price tag is worthy," she said.
There are only two Australian wave pool surf parks open to the public. Dozens of others have been proposed by developers over the past decade, but companies have faced issues raising capital.
The Yeppoon site was originally selected by Surf Lakes founder Aaron Trevis, who grew up on the Capricorn Coast. He parted ways with the company as it looked to move away from Queensland and focus on a development in Austin, Texas.
Ms Carroll noted the many local shareholders who invested in the company were still investors of the business. "The investors into Surf Lakes … would still want the company to sell the site and at least make good money," she said. "Any shareholders that bought into Surf Lakes that want to see Yeppoon develop [it], that is completely off the table."
Analysis
Why This Matters
- The sale of the site, a prototype for wave-making technology once seen as a world-first, signals a setback for regional tourism ambitions in central Queensland and the closure of a project that never reached public operation.
- The outcome will test whether specialised surf-park infrastructure can attract buyers in a market where only two Australian wave pools are publicly accessible, and where many other proposed developments have stalled due to funding difficulties.
- The sale price and buyer interest will indicate the perceived value of the technology and approvals package, and could shape future investment in surf-lake ventures elsewhere in Australia.
Background
Surf Lakes Yeppoon opened in 2018 as a prototype facility designed to produce more than 2,000 waves an hour with five different wave types. It was invitation-only and never opened to the public. The site was decommissioned in recent years. The company is now focusing on a development in Austin, Texas. Founder Aaron Trevis, who grew up in the area, has left the company.
Key Perspectives
Surf Lakes: Managing director Lewis Glynn said the site was "established as a research, development and demonstration facility" and had played a pivotal role in validating the company's proprietary wave-generation technology. He said agents were inviting interest from prospective surf lake developments or buyers considering other uses.
Capricorn Enterprise: CEO Mary Carroll said the rural location would make the site hard to market because it was specifically built as a surf park. She said local shareholders who invested would want the company to "at least make good money" from the sale.
What to Watch
- The sale price and whether a buyer emerges for the $4 million site, given the specialised infrastructure and rural location.
- Whether any further surf-lake projects progress in Queensland after the Sale of the Yeppoon prototype.
- The direction of Surf Lakes' Austin, Texas development, as the company shifts its focus away from Australia.
Checked
12 claims in this story checked against 1 source: 12 supported.
Show each claim
- SupportedSurf Lakes has put the dormant Yeppoon prototype site on the market.Latest business news: “Surf Lakes to sell dormant Yeppoon prototype site. The owner of Yeppoon's Surf Lakes wave pool has announced it is selling its central Queensland site.”
- SupportedThe site sat dormant and was decommissioned before the sale was announced.Latest business news: “In recent years, it sat dormant and was decommissioned.”
- SupportedThe prototype was a world-first when it opened in 2018.Latest business news: “The facility, located halfway between Rockhampton and Yeppoon, was a world-first prototype at the time of its opening in 2018”
- SupportedThe site received rave reviews from surfing legends, including world champion Mark Occhilupo.Latest business news: “It received rave reviews from surfing legends, including world champion Mark "Occy" Occhilupo”
- SupportedAgents are inviting interest from prospective surf lake developments or buyers considering other uses, as stated by Lewis Glynn in a Tuesday company statement.Latest business news: “In a statement released by the company on Tuesday, Surf Lakes Queensland managing director and Surf Lakes global chief operating officer Lewis Glynn said the agents for the sale were inviting interest from prospective surf lake developments or buyers considering other uses.”
- SupportedLewis Glynn said, “Yeppoon enabled Surf Lakes to test its technology at full scale and showcase it to investors, commercial partners and prospective licensees from around the world,” and thanked the team, shareholders and local community for their support.Latest business news: “"Yeppoon enabled Surf Lakes to test its technology at full scale and showcase it to investors, commercial partners and prospective licensees from around the world," Mr Glynn said. "Our team, shareholders and the local community have all contributed to that journey, and we are grateful for their support."”
- SupportedThe sale includes 2022 council approvals for a tourism development with glamping and camping sites, cabins, restaurants, a scuba pool, skate park and learn-to-surf lagoon, powered by a solar farm.Latest business news: “The sale includes council approvals from 2022 for a tourism development , with plans for glamping and camping sites, cabins, restaurants, scuba pool, skate park and a learn-to-surf lagoon, powered by a solar farm.”
- SupportedThe tourism development’s second stage was estimated to attract up to 300,000 visitors a year.Latest business news: “A second stage included a boutique hotel, aqua park and village green, and was estimated to attract up to 300,000 visitors a year.”
- SupportedThe site is understood to be on the market for about $4 million.Latest business news: “It is understood the site is on the market for about $4 million.”
- SupportedMary Carroll said the rural location would make the site difficult to market because it was built and located specifically as a surf park.Latest business news: “Capricorn Enterprise chief executive officer Mary Carroll said the rural nature of the site would make it difficult to market because it was specifically built and located to be a surf park.”
- SupportedCarroll said, “The real estate agents have a job to do and the market will decide whether that price tag is worthy.”Latest business news: “"The real estate agents have a job to do and the market will decide whether that price tag is worthy," she said.”
- SupportedCarroll said, “Any shareholders that bought into Surf Lakes that want to see Yeppoon develop [it], that is completely off the table.”Latest business news: “"Any shareholders that bought into Surf Lakes that want to see Yeppoon develop [it], that is completely off the table."”