MFS Living and Leisure, the Australia-based investment vehicle which earlier this year acquired the world’s largest aquarium owner and developer, Oceanis, for AUS$150m (£63.5m, US$110.6m, 93m euro), has announced the latest addition to its growing leisure portfolio, a tree-top walk business.

The company has bought the Otway Fly tree-top walk in the Otway Ranges, Victoria, Australia, for AUS$14.75m (£5.9m, US$11.6m, 8.74m euro) and secured the rights to develop and own the recently approved Illawarra Fly scheme planned in New South Wales for a further AUS$14.2m (£5.7m, US$11.2m, 8.4m euro).

The Otway Fly tree-top walk – a 600m elevated steel walkway high in the rainforest tree tops – was launched in September 2003 by Shane Abel and Neil Wade, who previously managed the development of the Tahune Airwalk and Dismal Swamp walkways on behalf of Forestry Tasmania.

Work on the Illawarra Fly – located on Knight’s Hill escarpment overlooking the coastal strip from Kiama to Ilawarra, and one and a half hours south of Sydney – is set to begin in the second quarter of next year and open by December 2007.

MFS plans to roll out the Fly tree-top walks concept out around the world.

Abel and Wade have been appointed consultants on a five year incentive agreement to exclusively find new locations and develop further tree-top attractions for MFS.