The 50sq m aquatic adventure park, known as Aquazone@LakeMulwala, will remain open until late April 2017.

Aquazone@LakeMulwala managing director Deb North said the closest similar structure was at Broadbeach in Queensland.

Ms North gained approval from Moira Shire Council on Wednesday to operate the business under a seasonal licence agreement.

“We’re running ahead of time and it looks like we’ll be able to trade from Cup weekend,” she said. 

Made of PVC material to a German design, the water park comprised waterslides, trampolines and obstacle courses.

Ms North said the business would employ up to 40 staff during Yarrawonga-Mulwala’s peak tourist season.

She said staff would be trained from October.

“We’ll be a strong employer in the summer months,” she said.

“We’ll provide career opportunities in the aquatics industry and the customer service sector.”

Ms North said the equipment would be set up between the Mulwala bridge and the Yarrawonga skate park at the foreshore during October.

“It will be anchored to the floor by concrete weights – there is no drilling which means it’s completely portable,” she said.

“Every year we’ll add independent pieces and grow the structure a bit more.”

Ms North said the water park would be an iconic addition to Yarrawonga.

“It’s awesome to bring something to the region that is unique,” she said.

“It couldn’t be done at Lake Hume because water levels are too inconsistent.”

Ms North said she had worked with Goulburn-Murray Water, NSW Maritime and Moira Shire to get the concept off the ground. 

“I don't know of any other situation where three large government organisations have actively worked together through the logistical challenges with private enterprise to bring a tourist attraction to the region.”

Users aged 8+ must have a minimum swimming ability and wear a high-visibility wristband, headband and supplied life jacket. It will cost $15 an hour.

Lifeguards will supervise from the water while a night watchman will be employed for the season.