Andrew Forrest buys Gaia from Olivia Newton-John
Andrew and Nicola Forrest’s Tattarang has purchased the Gaia Retreat & Spa at Brooklet, about 15 kilometres south west of Byron Bay.
The c$30 million deal is with Olivia Newton-John, Gregg Cave, Ruth Kalnin and Warwick Evans, which established the health and wellbeing asset 16 years ago.
In 2018, the venue won the World Luxury Hotel Awards’ Global Hotel of the Year – the only Australian property to do so.
Gaia Retreat and Spa
Over eight hectares, Gaia includes 22 guest suites, a restaurant, lounge, salted heated swimming pool, sauna and spa.
It also offers recreational facilities including a naturopathic consulting room, day spa with 10 treatment rooms, yoga studio, fitness centre, tennis court, walking tracks and fire pit.
“As custodians of truly unique Australian experiences, we understand and deeply respect the founding vision of Gaia, which has transformed a wellness philosophy into one of Australia’s most celebrated destinations,” Ms Forrest said.
“We are investing in and developing unique and meaningful places…that have the capacity to enhance the health and wellbeing of individuals and communities,” she added.
“Tattarang’s business approach is holistic – it’s not just about investing in quality businesses, but ensuring sustainability and community bebefit”.
The buyer’s Fiveeight division will hold the asset while its Z1Z arm will manage the hotel and operations.
“Our investments say as much about the inspiration and much-envied modern lifestyle that our country enjoys as it does about the exciting future it represents,” Tattarang chief investment officer, John Hartman, said.
“Our commitment to investing in iconic Australian experiences is something we look forward to sharing as we welcome returning Gaia guests and those yet to discover the unique experience” (story continues below).
Z1Z’s portfolio includes other hotel assets, restaurants, as sports and fashion investments, RM Williams amongst them.
It also controls the Western Force rugby team.
Fiveeight meanwhile, retains hospitality investments including the Indiana Tea House at Cottesloe Beach, The Swan Brewery, also in Perth, and the Ningaloo Lighthouse Resort near Exmouth, on the Western Australia north west cape.
Twelve months ago the group acquired its first office – 190 St Georges Terrace, again in Perth, for $55m.
“It is with great honour and gratitude that we have found the right custodians to take the reins of our precious piece of paradise,” Mr Cave said.
“From the moment we met the Tattarang team at Gaia and shared our story with them, we knew there was no other group we could entrust our business to,” according to the executive.
“We are excited to pass the baton to new visionaries to nurture and grow this majestic hinterland oasis – a place which has been so deeply embraced as a ‘home away from home’ for so many o the wellness and healing journey,” Ms Newton-John added.
“We are so very thrilled to see how this fresh, exciting and innovative group will preserve our legacy and we wish them as many heartfelt moments as we have shared with our wonderful loyal staff and guests over the years”.
Colliers’ Karen Wales and Gus Moors were the marketing agents.
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