CHINESE buyers continue to snap up islands off the coast of Queensland, with China Capital Investment Group last month announcing the acquisition of South Molle Island in the Whitsundays.
South Molle’s “perpetual lease” was up for grabs and proved attractive to the company, which already operates the adjacent Daydream Island resort & Spa after purchasing it in early 2015.
The Shanghai-based company said the acquisition of South Molle “reflects the confidence we have in Australian tourism assets, Queensland and the tourism industry”. According to Daydream Island CeO Scott Wilkinson, “South Molle has a long history as a tourism destination. As such this was a great opportunity to acquire one of the last large-scale development opportunities in the Great Barrier reef”. The perpetual leasehold interest in the island features more than 12 hectares of absolute beachfront land available for development, including a 600m frontage to one of the only sheltered north-facing white sand beaches in the region. There’s also a 15 hectare parcel in the middle of the island, surrounded by national park.
Wilkinson said owning two island resorts in the Whitsundays would also provide economies with regards to staffing and resources, as well as ultimately providing opportunities for diversified guest experiences. “The investment and tourism potential from both domestic and international visitors is strong and coupled with infrastructure development in the region is an exciting prospect,” he said, adding that the owners look forward to providing local employment opportunities through the creation of more tourism jobs.
China Capital Investment Group was founded in 1995 and specialises in China’s real estate, mining and infrastructure sectors. Chinese interests also own Lindeman Island, the home to the former Club Med resort, with advertising and media company White Horse Group currently working on a major redevelopment after acquiring Lindeman for about $12 million some years ago.
