Cap Coast island's 'party animal' tradition to remain

More than 1750 prospective buyers vied for the ridiculously priced slice of paradise, which captured global interest

PARADISE: Aerial view of the recently sold Wedge Island, dubbed "party island”, off the Emu Park coast. Picture: Contributed

WORLD-famous Wedge Island will party on in the capable hands two couples who snapped up the Capricorn Coast slice of paradise.

The 23-acre property, 5km off Emu Park's mainland, went viral after The Morning Bulletin revealed a group of young blokes were selling it off for a ridiculous $495,000.

Australian Islands agent Richard Vanhoff anticipates news of its sale will come to the collective disappointment of more than 1750 prospective buyers who contacted him from across the globe.

Buyers in Germany, Holland, Moltar, the UK, Dubai and China all put in their bids, but it was four developers from Brisbane who bought the coveted retreat for slightly over asking price.

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One of Wedge Island's sandy beaches. Picture: Melanie Plane

He explained the buy came down to the wire, with the other contender a Belgian fellow who had registered a bid online for an upcoming - now cancelled - auction.

The previous owners, a contract engineer from Moranbah and some men from Noosa, "didn't want to get greedy".

They were happy their "party central" would wind up with people to carry on its legacy and didn't bump up the price, despite previously asking for $850,000.

"They are party animals so it is still going to remain a bit of a party island and a place for them to camp and go fishing," Mr Vanhoff said of the lucky new owners.

"They are really interesting couples, they looked at another island we had earlier, a camp island, and it has now been sold so this is the next best thing."

Wedge Island is not far from GKI. Picture: Contributed

But the chance to "refuel" on booze at Yeppoon or Emu Park sealed the deal for the mystery foursome.

Mr Vanhoff even discussed the sale with the Aussie band member of a high-profile, international rock band who were touring England as hype spread on the island sale.

But don't despair if you, like thousands of others, were desperate to sink your toes in the island's private beaches, dip in the reefs or just get loose with your mates.

Mr Vanhoff said the State Government would consider any application for an Air BNB or similar endeavour so long as it didn't become a commercial lodge.

"They (the State Government) were happy for the owners to mitigate the cost of owning an island by getting some sort of return," he said.

"These owners will do that, they might do an Air BNB."

One of Wedge Island's secluded sandy beaches. Picture: Contributed

The 12 acres of freehold (30 acres total) island is for sale at a "very negotiable" $1.95 million, and heralded as one of the "best kept secrets" in the region.

It is this rare, freehold land, which Mr Vanhoff said lures the keenest demographic for island buys; China.

He explained interest in Wedge Island "went nuts" in the People's Republic, but buyers were deterred by the leasehold land.

He explained while China had been major investors in island properties, this had declined over the past two years since the Chinese Government tightened restrictions on large sums of money leaving the country.

Australian Islands agent Richard Vanhoff recently sold Wedge Island off the Capricorn Coast for just above the asking price of $495,000.

"It's a new field... of late I think that's because of the Adani projects, and other Indian projects in Brisbane and the Gold Coast.

"They are looking for leisure products, which is where I sit, in that leisure product."

Originally published as Cap Coast island's 'party animal' tradition to remain