Lindeman Island back in Chinese hands as sale to Shaun Juniper collapses
In a major blow to the Sunshine State’s recovering tourism industry, Queensland developer Shaun Juniper has pulled out of plans to purchase the island.
In a major blow to the Sunshine State’s recovering tourism industry, prominent Queensland developer Shaun Juniper and his wife Samantha, have unexpectedly pulled out of their plans to purchase and develop Lindeman Island off the Airlie Beach coast.
The Junipers, owners of one of Queensland’s largest private property development companies, contracted to purchase the long dilapidated island, which once housed a Club Med resort, several months ago.
The pair had negotiated to pay around $10m for it last November buying it from Chinese cable TV operator White Horse Group, who had struggled with the Queensland government to gain development approvals for a luxurious resort for more than a decade.
Mr Juniper, who is believed to be overseas, could not be reached for comment on Monday.
Sources close to the Lindeman Island sale alleged the Junipers have already “let go” several staff members hired to start work on the Lindeman Island resort reconstruction.
Both White Horse Group and the island’s marketing agent CBRE national director Wayne Bunz declined to comment on Monday.
Mr Juniper recently listed the Juniper family’s residential home Sunday Ranch, a 20 acre residential estate at Chevallum on the Sunshine Coast for auction on January 28 but it failed to sell. It was expected to fetch at least $11m but was passed in at just under $10m.
The Junipers had planned to reinstate the once glamorous Lindeman Island resort in the heart of The Great Barrier Reef to its former glory after it lay dormant for 11 years with plans for a six-star luxury health retreat on the island around 15 km from the Oatley family-owned Hamilton Island. Their $10m acquisition of it was half the $20m the Chinese vendor was asking.
Records reveal White Horse Group paid $12.5m for the island in 2011 and failed to redevelop it despite extensive plans and Queensland government consultations.
The island had been subject to a masterplan redevelopment worth about $583m. The masterplan incorporated a variety of four to six-star accommodation offerings, with 325 suites villas, suites and apartments, an eco-tourism education centre, restaurants, bars, beach club, nightclub, conference centre, arrival centre, retail shops, sport and recreation centre and a staff village.
Meanwhile, Industry sources expect the Juniper’s 8ha plus Chevallum property could break suburb records when it eventually sells.
The estate is located in a hinterland setting within 20 minutes of beaches, 15 minutes from private schools, and 25 minutes from the airport. The seven bedroom property fronting 69-71 Dales Rd, Chevallum remains for sale with Ken Guy Buderim agent Danny Redman according to the agent’s website.
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