Aventuur air New Zealand renders, secure exclusive wave tech rights in several markets
Aventuur aired renders for their New Zealand surf park this week along with an announcement that they are eyeing new US and Mexico territory. The company said they have secured exclusive Wavegarden rights for wave pool projects in nine dedicated North American territories with plans to develop projects in Los Angeles and New York.
Aventuur’s primary business is integrated real estate developments that include a surf park as the central element of that ecosystem. Each of their in-development destinations, Perth and New Zealand as well as their destinations planned for Los Angeles, New York, Atlanta, Austin, Dallas, Denver, Jacksonville, Las Vegas, Nashville, Phoenix and Los Cabos (Baja California Sur) require US$50-100 million in development capital. If all those projects go online, the company has the potential to create a real estate portfolio exceeding US$1 billion.
To support its North American rollout, Aventuur says they have successfully raised US$12 million in funding from a range of high-net-worth individuals, family offices and private investment firms. The company added that its strategic investor base has deep networks in the real estate, capital markets and surf industries.
Currently, their Perth wave pool is making progress and should open in 2026 with Auckland following shortly behind in late 2026.
In 2020 Andrew Ross, who headed up Urbnsurf in Melbourne, joined existing Aventuur partners Richard Duff and Nicholas Edelman who had founded the company one year earlier. Aventuur has exclusive rights to Wavegarden in New Zealand, Australia (new developments), Singapore and Fiji. Today’s announcement points to Aventuur aggressively expanding into North America.
The new surf parks won’t bear the Aventuur name, as the company told WavePoolMag that there will be a consumer brand name announced at a later date. In addition, each property will be contextualized for the local market.
Although surf markets vary greatly across North America, the company said it is the lack of consistent access to surf that guarantees future customers.
“Through our research, we understand there are currently 28 million surfing enthusiasts in the United States, but less than 10 percent are regularly surfing,” said Nicholas Edelman of Aventuur. “We believe this shows that access, not aspiration, has been the barrier to entry. By providing quality uncrowded waves, we can satisfy existing pent-up demand and in inland communities provide opportunities to people who have not yet experienced the joys of surfing.”
Anchored by a 5.5-acre surfing lagoon, Aventuur’s mixed-use developments will also incorporate hospitality, retail, and residential components, including cafes, restaurants, beach clubs, retail boutiques, fitness and wellness studios, high-performance training centers, functions and events facilities, and creative offices.
“These developments are unique in that they combine a highly cash-generative operating business with long-term real estate value creation,” said Aventuur Co-Founder and Chief Investment Officer, Richard Duff. “A common misconception is that the surfing lagoon is loss-leading and requires the surrounding real estate to do the heavy lifting, however in reality it more than justifies its cost of capital.”
Aventuur added that surfing’s healthy lifestyle will help ensure ongoing visitation.
“Designed having regard to biophilic and “blue health” principles, the company’s destinations provide a variety of spaces for people to enjoy the water, being outdoors and among nature,” Aventuur said in a statement. “Led by former World Surf League (WSL) pro surfer, Adrian “Ace” Buchan, Aventuur’s experiences will combine surf instruction, fitness training and physical recovery to create a virtuous circle of physical health.”
In Australia, Aventuur won a 14-acre site via a tender process run by the Western Australian Government in 2021 to deliver a US$70 million surf park in the capital of Perth, located within a newly created transport-oriented development area. The company is preparing to commence construction on the Southern Hemisphere’s largest surfing lagoon in early 2024.
In May 2023, the New Zealand Ministry for the Environment referred Aventuur’s Auckland Surf Park to an expert consenting panel for fast-track permitting consideration. The master-planned development has a significant focus on sustainability, combining a surf, leisure and well-being destination with a data center and solar farm. In a world first, Aventuur is seeking to capture the heat generated by the data center on site to warm the water of the surfing lagoon. The 17.5-acre solar farm is intended to provide renewable energy for the data center to create a sustainable ecosystem.