Aventuur secures institutional investment for Perth Surf Park

Aventuur has announced that it 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.

The funding will enable construction to commence later this year, with a public opening planned for late 2027.

Located in Central Cockburn, the $120 million Perth 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 attraction is a 2.2 hectare a Wavegarden Cove surfing lagoon 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.

Delighted to welcome RAC as an investor in the project, and to have secured follow-on investment from Wyllie, Aventuur Chair and Chief Development Officer, Andrew Ross stated “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.

“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.”

RAC Group Chief Executive Rob Slocombe said RAC’s investment in the Perth Surf Park continues the membership organisation’s support of WA tourism over many decades.

Slocombe noted “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.

“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.”

URBNSURF looks for $75 million recapitalisation
URBNSURF, the owner of two surf parks in Sydney and Melbourne, is reported to have mandated capital raising experts mandated Grant Samuel for a $75 million recapitalisation of the business.

The Australian Financial Review revealed last week that several credit funds have been contacted to discuss the business’s capital needs.

Image: RAC Group Chief Executive Rob Slocombe and Aventuur Chairman Andrew Ross announce the new funding for the Perth Surf Park.