Queensland’s Double Island hits market after Hong Kong businessman stripped of tourism lease

In its heyday this derelict Aussie island welcomed Hollywood stars. The state now wants someone to bring it back to its former glory.

An abandoned Aussie island once home to a luxury resort has hit the market — but it won’t be the highest bidder who snaps it up.

Double Island sits off the coast of Cairns and, in its heyday, hosted celebrities like Jennifer Aniston, Brad Pitt, Keanu Reeves, Matt Damon and Drew Barrymore.

Billionaire Hong Kong businessman Benny Wu signed a $5.68 million tourism lease for the island in 2012 but was stripped of the lease in June last year after the resort did not operate for more than six years.

The state reclaimed the derelict island and after converting the site to state-owned freehold land, the Queensland government is seeking a new tourism operator to revive the neglected island.

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Hong Kong businessman Benny Wu has been stripped of the Double Island lease. Picture: Tom Lee

Double Island off the coast of Cairns has hit the market. Picture: CBRE

Commercial agent CBRE Hotels is running an expressions of interest campaign looking for “visionary proposals” to make Double Island a leading tourism destination for Australians and international visitors again.

On offer is a 16.2-hectare private island with long-term leasehold tenure.

Wayne Bunz, national director at CBRE Hotels Asia Pacific, could not tell news.com.au what the tourism lease was worth but did say the successful operator will “absolutely, unequivocally not” be whoever offers the most money.

“This is not like selling your house,” he said, adding it’s about what the new tenant’s vision is and what they will contribute.

Mr Bunz said applicants “will be judged on what they do on the island, what kind of custodian they are to the island, what they will do to contribute to the local community, and to the tourism and hospitality sector”.

Mr Bunz said he has sold a lot of islands, and the interest is always huge, with all kinds of people coming out of the woodwork.

But people get “ability and ambition mixed up,” he said, noting that it was great to be ambitious, but they needed a strong capability and financial backing too.

The once luxury resort on the island had been left to fall apart. Picture: Emily Barker

Double Island is within the Great Barrier Reef Marine Park and is only about 1.5 kilometres off the coast of Palm Cove.

Mr Bunz warned that running a tourism or hospitality business on the mainland is not the same as doing so on an island.

The incoming purchaser will be required to remediate the “dilapidated” infrastructure left behind as well.

Hong Kong businessman Benny Wu was stripped of his Double Island tourism lease last year. Picture: Emily Barker

The new tourism operator could develop luxury high-end accommodation or glamping, run events, tourism experiences, or indigenous cultural tours, or just food and beverage for day-trippers.

Mr Bunz said there would be “a strong lean” towards environmentally conscious operators.

While his team will make a recommendation, the Queensland government will ultimately decide who takes control of the island.

A view of the island from Palm Cove. Picture: CBRE

Queensland Natural Resources Minister Dale Last said a tourism lease on Double Island was a unique opportunity for a tourism operator given the 2032 Olympic and Paralympic Games was around the corner, and getting the island back up and running would support “hundreds” of jobs.

“We need the right operator with a bold and forward-looking vision to ensure this gem in the Far North’s tourism crown lives up to its full potential,” he said.

The Queensland government has managed the site since Mr Wu’s lease was revoked. It said it secured the site with safety fencing, regulatory signage, and 24-hour surveillance cameras.

Double Island was put on the market on Monday, and expressions of interest will close on May 9