Chinese-owned South Molle Island is up for sale after resort plans abandoned

The Chinese investment group that owns South Molle Island in the Whitsunday Islands of Queensland has made a big decision on its future.

If you’re looking for a slice of paradise in Queensland’s Whitsunday Islands, now’s your chance to snap it up.

The only catch is that you will need $30 million. That’s the asking price for South Molle Island that has been put up for sale by China Capital Investment Group.

The Shanghai-based company bought South Molle Island in 2019 for $25 million and invested an additional $10 million to upgrade its jetty. The island had been severely damaged by Cyclone Debbie in 2017 and has since remained untouched, with its resort’s rooms in disrepair and the infrastructure in ruins.

The island was intended to be transformed into a world-class five-star tourist resort, but those plans have not been realised.

The Courier Mail reported the asking price for South Molle Island is around $30 million, with the sale is being facilitated through agents CBRE.

The island, sitting about 5km east of Airlie Beach, comprises approximately 28 hectares of beachfront and island centre land with perpetual and long-term leasehold lots.

China Capital saw the purchase of South Molle as an opportunity to expand its presence in the Whitsunday Islands, but it is now looking to cut its losses and sell.

South Molle Island, located in Queensland’s Whitsunday Islands, has been put up for sale by China Capital Investment Group.

The resort on South Molle Island in the Whitsundays is in a dilapidated state. Picture: Allards Across Oz

The island, sitting about 5km east of Airlie Beach, comprises approximately 28 hectares of beachfront and island centre land with perpetual and long-term leasehold lots.

The island was established in 1937 and used to house a 200-room resort and a nine-hole golf course. The sale listing has followed a recent trend of Whitsunday Island transactions, with Lindeman Island, Dunk Island, Lizard Island, Long Island, and Hook Island all being sold in the past two years.

The sale of South Molle Island is seen as an opportunity for China Capital to reinvest its capital into other business ventures and improve its facilities at Daydream Island Resort on the Barrier Reef.

The region of Whitsunday has shown resilience in its tourist market despite slumps throughout the pandemic, and has been recognised as the second most beloved tourist destination in the world in 2022, according to the Tourism Sentiment Index.

The expressions of interest campaign for South Molle Island are set to close on September 28.

Originally published as Chinese-owned South Molle Island is up for sale after resort plans abandoned