Byron's 'Splendour in the Grass' Festival Site Hits the Block

It has been a hallowed and often muddy ground for music festival goers for more than a decade but the times are a-changin’. In the wake of being cancelled for the second consecutive year, the former site of Byron Bay’s renowned Splendour in the Grass festival has been put on the block. The sprawling North Byron Parklands spans 229ha at 126 Tweed Valley Way, Wooyung—just 15 minutes drive from Byron’s town centre—reportedly is expected to fetch about $35 million. It has been the home of the festival since 2013 but according to the sales pitch the field of good vibes and gumboot stomping live music lovers is now “primed for repurposing, offering unparalleled potential for developers, investors, and visionaries alike”. Potential development opportunities are touted to include a luxury estate for ultra private residential compounds, a world-class wellness retreat, eco-tourism venture or an events and cultural hub. Savills has been appointed to take the property to market via an international expressions of interest campaign on behalf of a conglomerate, including Byron Bay entrepreneur Brandon Saul. Strong interest from near and far is expected, Savills Australia and New Zealand head of hotels, Leon Alaban, told The Urban Developer . ▲ A render of one of the redevelopment opportunities for the site. “It’s very unique,” he said. “In terms of comparables, there’s limited if any we’ve seen of this size and type of asset that have come to market in the Byron area. “And it’s going to attract an array of property investors, corporates, developers…there's multiple potential uses for the site so we’ll just see where the price gets to—it could be more.” Alaban said the region was synonymous with luxury, wellness and exclusivity. “The opportunity to own such a vast and strategic landholding in Byron Shire is incredibly rare, making this a once-in-a-generation investment. And with Byron attracting record prices across all asset classes, we expect this exceptional opportunity will demand buyer interest to draw parallels to recent records within the region.” His colleague, Savills senior executive—hotels, Selin Ince, added: “With extensive approvals in place, North Byron Parklands is a blank canvas ready to be transformed”. In early 2019, the site was approved for a $42 million redevelopment to turn it into a permanent festival venue for up to 50,000 people. The plans included the construction of a new administration building, conference centre and accommodation for up to 120 guests. However, in the ensuing years the music festival scene has struggled due to the skyrocketing post-pandemic expense of staging such events as well as the impact of cost-of-living pressures and interest rate hikes on ticket sales.

Byron's 'Splendour in the Grass' Festival Site Hits the Block

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