An entire village yours for less than $13m

How much would you pay for the picturesque Tasmanian village of Tarraleah? 

Well if you’re looking to secure the recently refurbished tourist town you will need deep pockets, with Knight Frank Hobart tipping the town will sell for $11-$13 million.

Built in the 1930s by the Hydro Electric Commission, the sale of 33 buildings includes a spa, Art-Deco style cottages, several reception venues, an office, cabins, cafe, church and a bar and restaurant.

Tarraleah was originally built to house migrant workers for Tasmania’s Hydro Electric Commission.

The 145ha property also includes 35 highland cattle and 74 hectares of farmland that has been re-zoned, providing potential buyers with the opportunity to further develop the town.

Located 126km north-west of Hobart, the town was originally designed to house 2,000 people but it was largely abandoned in the 1990s.

The town’s Art Deco buildings have been lovingly restored by current owner and developer Julian Homer over the past 13 years.

Tarraleah has a number of different cottages, cabins and accommodation venues.

Tarraleah has an annual turnover of $2 million and has become a popular wedding destination.  The retail and hospitality businesses currently employ 20-25 people in the summer and 4-5 in the cooler months of the year.

While potential buyers include one church group and several overseas parties, most who have looked at buying the village plan to continue operating it as tourist destination.

“Most groups are looking at it based on a tourism use. But someone could turn it back into a town with some permanent occupation,” says  John Blacklow, Manager of Hotels and Motel Business at Knight Frank Hobart.

The Art Deco beauty of the town’s buildings has been restored by owner and developer Julian Homer.

“It’s a great wedding venue with a church there and three to four different function venues,” he says.

While the sale of the entire village has seen 50 different local and international media companies from Singapore, Germany, the UK contact Knight Frank including the BBC and The Straight Times get in touch, it’s the impressive restoration that is attracting potential buyers.

“It is exceptional.  The whole town has been done up to first class standards” he says.