Queenslanders can be inexhaustibly foolish with their money. You’d think the memories of Qintex, MFS and then Blue Sky Alternative Investments would have rendered the populace gun-shy, but no.

Mayfair 101’s bold plans for transforming Dunk Island and Mission Beach (between Cairns and Townsville) appear to have drawn in the required investors with equally bold promises of mid-single-digit annualised returns.