HotelsThis one-time Club Med island goes for sale as Chinese investors pull out.

What US$13.8 million will buy you on the Great Barrier Reef

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Lindeman Island, located within Queensland’s Whitsunday archipelago, once operated as a Club Med resort.
Lindeman Island, located within Queensland’s Whitsunday archipelago, once operated as a Club Med resort.

Fancy owning an island in the sun? Not just any island hideaway, but a World Heritage-listed Great Barrier Reef island in Australia.

This is an island that comes with a history. It was once operated by Club Med, who held the lease for 20 years before selling to Chinese investors for US$12 million in 2012.

The new owners planned to upgrade and reposition the island but after gaining environmental approvals for development, it is selling up “with regret”, according to the local representative of China-based firm White Horse, Michael Dawn.

“White Horse hopes that the new owner continues with its vision to redevelop this once great island resort and restore it to its former glory,” Dawn said.

CBRE Hotels’ Wayne Bunz and Hayley Manvell have been exclusively appointed to market the asset, one of 24 Queensland islands offering resort approvals.

On offer is a perpetual leasehold and four long-term leases over 136 hectares of land, comprising the closed beachfront resort, golf course and air strip. The island also features 637 hectares of national park area with seven private beaches.

Lindeman Island is located within Queensland’s Whitsunday archipelago, approximately 15km from Hamilton Island. It can be accessed by boat – either via a 20-minute trip from Hamilton Island Airport or a 40-minute trip from Airlie Beach, with small charter aircraft and helicopters also able to land on the island’s airstrip.

Price expectations for the island resort are more than A$20 million (US$13.8 million).

And if you would rather spend that money elsewhere in Queensland, Singapore’s Ho family, headed by Whye Chung Ho and Whye Tong Ho, have listed their Palm Cove site in Far North Queensland amid expectations of about A$20 million.

The 6.73 hectares of oceanfront bushland was purchased in 1993 when the Ho family owned Novotel Palm Cove Resort, now known as the Grand Chancellor Palm Cove.

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