FNQ resort Dunk Island new owners property buy-up
Developer Mayfair 101 Group has confirmed it has completed settlements on 100 properties in and around Mission Beach. Here are some of the multimillion-dollar homes that have already settled.
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DEVELOPER Mayfair 101 Group has confirmed it has completed settlements on 100 properties in and around Mission Beach after buying Dunk Island four months ago and just a week after revealing it would launch a barge to start construction works on the Cassowary Coast tourist destination.
The combined value of settlements to date is more than $70 million, according to a company spokesman.
Mayfair Iconic Properties chief executive Stuart Duplock said the business was “now well-advanced in our planning to transform the economy of Mission Beach”.
“Over the past few months, we have made significant progress by putting measures in place to drive major investments in the region, as well as working through the time-consuming task of comprehensively completing due-diligence and settlement on 100 of the over 250 properties the Mayfair 101 Group has under contract,” he said.
“It’s a great moment for the whole Mayfair 101 Group and the broader Mission Beach community to have reached this significant milestone.”
Mr Duplock said the residential properties would be used to help grow tourism in the area and represented an opportunity to provide a consistent, high standard of service to guests visiting the region.
“Revitalising the Mission Beach region is core to our plans for reactivating Dunk Island, given its proximity to the mainland,” he said.
“Many of the settled properties will be made available as holiday accommodation, with others being used to house incoming construction workers, echoing our plan to reclaim Dunk Island’s position as the premier tourism destination in Asia Pacific.
Our team is committed to completing settlement of the remaining 150 or so properties that are due to settle over the next 18 months and is excited by the economies of scale we can achieve with such a significant portfolio in an upcoming region.”
South Mission Beach, Mission Beach and Wongaling Beach contain most of the properties in Mayfair’s burgeoning property portfolio.
Plans for Dunk Island are well under way, with surveys recently starting on the spit area and sand replenishment activities due to begin within a matter of weeks.
In December, Mayfair Iconic Properties released its initial vision for upgrades to the Dunk Island spit, including the establishment of a new beach bar and cafe, upgrades to camping, barbecue and toilet facilities, as well as revegetation.
Mayfair Iconic Properties is the property development and management division of the Mayfair 101 Group, a family-owned developer.
SNAPPED UP BY MAYFAIR ICONIC PROPERTIES
Lot 4 Wylie Rd, Mission Beach $2.53m
2D Reid Road, Mission Beach 1.285m
20 Donkin Lane, Mission Beach $939,770
8A Reid Road, Wongaling Beach $830,000
46 Kennedy Esplande, South Mission Beach $675,000
10 Kennedy Esplanade, South Mission Beach $600,000
40 Mitchell Street, Mission Beach $493,000
Originally published as FNQ resort Dunk Island new owners property buy-up