iProsperity has purchased the property for approx. $30m in a deal brokered by JLL Hotels
Key points:
iProsperity Group has purchased the Vanuatu island for approx. $30m
Bought with vacant possession with the intention of inputting a new operator
Resort features 72 villas, 68 strata units, casino & five F&B outlets
iPG has purchased Iririki Island Resort & Casino in Vanuatu's Port Villa for approx. $30m in a deal brokered by JLL Hotels.
The 4.5-star trophy resort features 72 villas and an additional 68 strata titled units, five food & beverage outlets, extensive meeting facilities and day spa. The 69-acre island is 200 metres from the mainland and recently underwent a USD$16 million renovation.
It is understood that the resort was purchased with vacant possession with the intention of inputting a new operator.
JLL Hotels & Hospitality brokered the deal on behalf of the Pettiona brothers, nephews of former veteran Labor politician Simon Crean.