Investors eyeing state's top islands
QUEENSLAND'S tropical island resorts are in the midst of a property bonanza
Mackay
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QUEENSLAND'S tropical island resorts are in the midst of a property bonanza that promises a new era in tourism.
Some of the state's top resort islands up for sale include Great Keppel Island, Brampton Island and Hayman Island.
South Molle Island, Heron Island, Wilson Island and Kingfisher Bay Resort on Fraser Island are the latest to be sold as cashed-up, mostly overseas investors, look to buy a slice of paradise off the Queensland coast.
Tourism experts predict a new dawn of luxury eco-resorts in coming years as owners put some polish on the "glittering jewels" in the crown of the state's $6.4 billion a year Great Barrier Reef tourism industry.
Lizard Island, Fitzroy Island, Hamilton Island, Hayman Island, Daydream Island are undergoing multimillion-dollar upgrades and renovations.
Lindeman Island, owned by Chinese mogul William Han, recently got the green light for a $583m development.
"No-one in their right mind goes into islands to make money," Orpheus Island owner and tourism identity Chris Morris said yesterday. "You've got to love them like I do,'' he said.
The Computershare founder said he'd spent five years and $20m on his luxury boutique retreat with his latest plans to build a $4m lodge on nearby Pelorus Island endorsed by Thor actor Chris Hemsworth and wife Elsa Pataky.
"It's all about doing something spectacular and fellow island resort owners are all watching the "for sale" space closely.'' Great Keppel owner and property tycoon Terry Agnew is now cutting his losses after a decade and almost $50m of his own money spent on development approvals to offload the 162-hectare site, 15km off Yeppoon, with a $25 to $30m price tag.
"It's now the perfect time for Terry to exit GKI to allow for a new owner to come in and take advantage of the upside of the island," JLL vice president Tom Gibson, who heads the global marketing campaign, said.
Dunk Island owner Peter Bond bought the world-renowned family resort off Mission Beach for $7.9m after it was demolished by Cyclone Yasi in 2011.
PETER MICHAEL
Originally published as Investors eyeing state's top islands
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