The 147-hectare Dunk Island on the Great Barrier Reef has sold to London-based investment group Mayfair 101
Key points:
Dunk Island sold to Mayfair 101 for approx. $31.5m
New owner intends to repair the now defunct resort to its former glory
Great Barrier Reef market recorded RevPAR growth of 15% for 2018
Dunk Island, located off Mission Beach on the Great Barrier Reef, has sold to the London-based investment group Mayfair 101 for $31.5m. The new owner intends to repair the now defunct resort to its former glory.
JLL Hotels brokered the deal on behalf of the Bond Family, who purchased the island for $7.5m in 2012 after it was ravaged by two cyclones.
The offering of Dunk Island follows Daydream Island in the Whitsundays opening after a $100 million refurbishment, with nearby Hayman Island and its new Intercontinental Resort opening following a $120 million makeover.
Recent Great Barrier Reef Island sales include Great Keppel Island, which sold last year for $70 million to Singapore's Wei Chao.
In 2016, South Molle Island was bought by Daydream Island's owner China Capital Investment Group for about $25 million.