Armidale Community reigns over the Oaky River Dam

Armidale’s water security outlook is positive following the Armidale Regional Council’s recent purchase of the Oaky River Hydro Scheme. 

CBRE’s Boo Harvey and Edward O’Dwyer brokered the deal on behalf of private vendors via a two-stage expression of interest campaign that attracted enquiries from over 140 groups and individuals. 

“We had a large volume of enquiries from individuals and groups looking at the asset for the purpose of renewable energy, tourism, rural lifestyle, and grazing.” Ms Harvey said. 

“We’re delighted the result was a great outcome for the community. Armidale has a progressive council, and we look forward to watching this next chapter in the Oaky River Dam’s life as it continues to service its local community.” 

The Armidale Regional Council will now begin lobbying the State Government and opposition for funding to reinstate the Oaky River Dam and construct a pipeline from the dam to the Armidale Water Treatment Plant. 

Located 40km east of Armidale, the 214ha property includes a 2,700ml dam that was purpose-built in 1956 to generate and supply hydroelectricity to the New England Region. The dam was decommissioned in 2013 after a flood event and sensor failure caused a spillover and the dam wall to burst.

The property also encompasses steep escarpments including the Oaky River Falls where the elevation of the river drops 285m, as well as a redundant hydroelectricity power station and supportive infrastructure.

“Lack of sufficient water security has been an inhibitor to the growth of our region,” Mr Coupland, Mayor of Armidale Regional Council said. 

“The acquisition of Oaky River Hydro Scheme is a significant piece in the jigsaw puzzle of our overall water strategy and gives us the confidence to progress our regional population target beyond 40,000 people.”