The Mornington Peninsula, just south of Melbourne, Australia, could become a popular hot spring tourist destination after hot water found deep beneath the land could become mineral pools for visiting tourists.

An aquifer discovered around 1,000m (3,280ft) below the peninsula has 4,000 megalitres of hot water – or four trillion litres – that could be sustainably drawn from below the surface each year.

Southern Rural Water – the company responsible for local management of water services at Mornington Peninsula – is planning to hold an auction in 2017 for use of the water, offering fair chance to obtain a licence and create a market for thermal waters. The auctions are only open to businesses that meet pre-approval requirements, including that they have a property in the area designated for the sale of licences, according to the company.

The peninsula currently offers one thermal pool using hot water from the aquifer – the Peninsula Hot Springs centre at Fingal. Currently, the peninsular is considering a further three applications for new developments that want to make use of the thermal waters, which measures about 46 degrees celsius when it reaches the surface.

The existing hot spring on the peninsula was recently recognised for its exceptional standards, picking up the World Luxury Spa Award in the hot spring category. Peninsula Hot Springs has also recently announced plans to grow its offerings substantially over the next two years, add overnight accommodations and create an official hot springs region near its location in Victoria.