Reports suggest Koh paid A$5.5 million (US$4m) for the 287-hectare Waterhouse Island, 2km from mainland Tasmania. Real estate agent Ant Manton told ABC News Australia that the new owner initially plans to use it as a holiday retreat.
Singaporean businessman Koh Wee Meng, CEO and founder of Fragrance Group, is reported to be the buyer of a privately-owned Australian island off Tasmania's north-east coast.
Reports suggest Koh paid A$5.5 million (US$4m) for the 287-hectare Waterhouse Island, 2km from mainland Tasmania.
Real estate agent Ant Manton told ABC News Australia that the new owner initially plans to use it as a holiday retreat.
"I think down the track there might be some plans for an eco-tourism type development, but at this stage just a magnificent private retreat in the middle of Bass Strait," Manton said.
Waterhouse Island has its own Wikipedia page, which describes it as having "an equable Mediterranean climate with warm summers and cooler winters. Rainfall, averaging around 600 mm per annum.”
Much of the island was declared a conservation area in 2011. In addition to a white-sand beach, the island has a permanent power supply and mobile phone reception. It can be accessed by boat or plane.
The Fragrance Group owns seven properties in Australia, located in Hobart, Melbourne and Perth.