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Hotham Airport sale has lift-off

Posted 31 January 2023

Hotham Ski Resort is pleased to announce Altiset Property as the new owner for Hotham Airport, as well as the surrounding freehold land on the Great Alpine Road.

Altiset Property is the specialised Alpine Development arm of the Grollo Group of Companies, responsible for some of the most significant and successful Australian alpine developments in the past decade.

“Hotham Airport is a special part of our company’s history and was the first airport built at an Australian ski resort, and at the highest altitude, so we felt a custodianship responsibility around the sale,” said Nathan Butterworth, VP and GM Mount Hotham Skiing Company. “For us, it was never about finding just the highest bidder and we know Altiset Property is absolutely the right fit for the airport and region.”

“The plans Altiset Property has for environmentally sustainable multi-function key worker and affordable group housing opportunities is another first of its kind in the Victorian Alpine Region,” said Butterworth. “Altiset Property has a well-earned reputation for visionary quality and holistic alpine developments that are sympathetic to the environment, community needs and expectations. The plans they have for the Hotham Airport site look likely to deliver huge benefits for the region.”

“We thank Castran Real Estate for successfully managing the sale, and we look forward to transitioning the asset,” said Butterworth. “We also wish to recognise Altiset Property’s Martin Ansell for his commercial farsightedness and ability to communicate his vision.”

Jason Williams, Hotham’s Airport Manager, has worked for the airport since it was opened and says: “I’m thrilled the airport will survive, it’s such an important asset for the local community and to the state of Victoria – especially during emergency operations, where it is well located”.

"Having a facility like this in such a remote part of the state also enables it to support the Victoria Police airwing and Ambulance Victoria, both rotary and fixed wing with fuel and terminal facilities.”

Hotham Airport is located at an elevation of 4,260 feet, with the highest commercial runway in Australia.

The airport is accessible from airports in both Victoria and NSW, with an approximate flight time of 45 minutes from Lilydale, Essendon or Moorabbin airports, 30 minutes from Albury and Canberra and 50 minutes from Sydney.

It provides an experience unique among Australian airports by allowing visitors to arrive by charter or personal flights with the thrill of flying over Australia’s magnificent high country, before being on the slopes within half an hour of landing.

Altiset Property’s purchase comprises a fully licensed and operational aerodrome, airport terminal building, fuel storage and associated airport infrastructure, together with some 105.36 hectares (260 acres) of land, held in two freehold titles.

A highly competitive and public Expression of Interest process was conducted using alpine real estate expert Castran Real Estate and an aviation consultant, that involved consultation with wide ranging local, state and federal government agencies and a broad spectrum of private investors.

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