Potential buyers will be assessing their options after the sale of Dunk Island collapsed and was repossessed
A Great Barrier Reef tourism icon is on the lookout for a new owner in a COVID-19 world after the collapse of a $31.5 million deal to buy the island resort.
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Offshore and Australian tourism investors and operators will be reassessing their options after a deal to buy one of the island jewels of the Great Barrier Reef collapsed.
Dunk Island in North Queensland was repossessed by the Bond family after new owners Mayfair 101 failed to meet their payment obligations.
The 59ha island resort was taken back only 11 months after Family Islands Operations — the family company of Linc Energy founder Peter Bond — sold it to Mayfair in a $31.5 million.
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There was strong interest in the island resort during the sales campaign last year and Family Islands Operations managing director Adam Bond said they were now assessing their options.
“In our capacity as controller of the asset it is our intention to move quickly to ensure that Dunk Island can attract the right ownership to continue toward reopening and re-establishing its position as one of Queensland’s iconic destinations,” he said.
Peter Bond bought the Cyclone Yasi ravaged island off Mission Beach in 2011 for $7.2m.
He kept the resort for personal use and through his family company started the task of returning it to its former glory.
Queensland Tourism Industry Council chief executive Daniel Gschwind said it was an opportunity for local and offshore investors and operators despite the impact of the coronavirus on international travel.
He said Australians — instead of going overseas — were now seeking nature focused experiences and holidaying at home.
“Places like Dunk Island are incredibly beautiful and well preserved natural opportunities,” Mr Gschwind said.
“We have a domestic market and last year when the borders were still open 5 million Australians spent their holidays overseas and in doing so they spent $50bl.
“That $50bl is perhaps burning a hole in some people’s pockets and that would go a long way to help stimulate local economies.”
