THE long-disused Bernacchi Lodge on the Central Plateau is undergoing a refurbishment, driven by a consortium that is believed to include motor racing star Marcos Ambrose.
According to a government spokeswoman, following the expressions of interest in late 2013, the Commonwealth-built lodge for Antarctic training was leased to a consortium.
"The consortium is currently upgrading the accommodation and will offer wild trout guiding as part of the venture, taking advantage of the surrounding prime trout region," the spokeswoman said.
"Investment in sensitive ventures such as this will build on Tasmania's growing reputation as the environmental tourism capital of the world."
While it was believed that Launceston-born Ambrose, who recently moved back home, might be involved with the venture, this could not be confirmed on Saturday.
Built in 1980 at a cost of $425,000 on the edge of Lake Augusta, it was used for those training to go to Antarctica to acclimatise before it was realised it wasn't cold enough.
It finally closed in 1995 and the federal government transferred ownership to the state in 1999.
In the early 2000s, a number of groups took an interest in the 60-bed lodge, and at one point, it was to be restored by those at the Ashley Youth Detention Centre and used for rehabilitation purposes.