Investors eye Gladstone's $4m island with resort approval

CHINESE and Sydney investors flag interest in Gladstone's luxury island.

FOR some buying a fancy car can be a sign of status but for the wealthy and famous a tropical island usually does the trick.

In an effort to reinvigorate interest around the sale of Gladstone's Turtle Island, real estate firm Colliers International has taken the 23-acre island on a "road trip" to China to help find a buyer.

Since November 2014 the island has been eyed off by the likes of American actress Julia Roberts and Kim and Kanye West.

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Colliers manager of Asia markets investment sales, Emily Fan, said since taking over the listing of the island two weeks ago, there had been a wide variety of interest from Sydney-siders and international buyers.

"It's a brand new campaign (but) interest has been quite strong and we've received a lot of calls," Ms Fan said.

"The island hit the local market last week but was taken offshore and visited China."

UP FOR SALE: Turtle Island is on the market.

Ms Fan said there hadn't been any interest from celebrities to buy the island yet, but at about $4 million "it's quite affordable".

"In terms of pricing we're not talking $20 million to buy the island, which when you look at the Sydney property market ($4 million for an island is cheaper than a lot of houses)," she said.

Turtle Island is one of only nine freehold islands in Queensland and has existing facilities, including two helicopter pads, a private jetty, a main building with four bedrooms, a swimming pool and a sweeping wrap-around verandah with views over the sea.

The island has also been given approval from the council for the development of a resort.

"Given that Turtle Island is located at the Southern end of the Great Barrier Reef, it has one of the seven wonders of the natural world at its doorstep," Ms Fan said.

"While it may feel you are worlds away when you are on Turtle Island, it is extremely accessible being just four kilometres from the town of Gladstone.

"From Gladstone, you then have the option of taking a ferry, helicopter, or your own private boat to Turtle Island in just 10 minutes."

But with 40 days to go until Colliers closes off international expressions of interest, the island may be sold soon.

Last week China Capital Investment Group bought South Molle Island in the Whitsundays for a reported $25 million, after buying the nearby Daydream Island Resort and Spa more than a year a go.

Originally published as Investors eye Gladstone's $4m island with resort approval