The billionaire Oatley family has halted a sale of Hamilton Island in Queensland after a review conducted by UBS, ending plans to offload the major tourism asset for a mooted $1 billion.
The Australian Financial Review’s Street Talk column first reported in September that the family, who inherited Hamilton Island in 2016 alongside other businesses from their father, winemaker and sailor Robert Oatley, had tasked UBS with a strategic review. The family is best known for its multiple wins at the Sydney to Hobart yacht race with its supermaxi Wild Oats.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
