North Queensland Dunk Island for sale - Tom Gibson JLL
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North Queensland Dunk Island for sale - Tom Gibson JLL
The Bond family has announced the start of an international marketing campaign for the sale of their iconic Dunk Island, located on the world-renowned Great Barrier Reef.
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JLL HotelsNorth Queensland Dunk Island for sale
Adam Bond, Managing Director of Family Island Operations, the owners of Dunk Island, said “We truly appreciate what a privilege it has been to hold Dunk Island for these past seven years. Our family has a deep attachment to Dunk Island, an island that we have come to call home. ”
“It is a difficult decision for the family to part with such a world class asset. Whilst, we have spent considerable amount of money already, we recognise that a new owner is best placed to rejuvenate the resort and unlock the island’s full potential. It’s our hope that the island will reclaim its place as an iconic Queensland destination and all Australians and visitors from abroad can share in its beauty once again. As an asset, Dunk Island is in a league of its own with its size, beauty, freehold tenure and proximity to the Great Barrier Reef.” Mr Bond said.
Tom Gibson, Vice President of JLL Hotels & Hospitality Group, has been exclusively engaged to manage the expressions of interest campaign, closing Friday 7 June, 2019.
“This is an exceptional opportunity to capitalise on the sheer growth in the tourism market and the immense brand equity on offer, by acquiring a clean-slate development opportunity with freehold tenure on the Great Barrier Reef and delivering Australia’s next tourism icon.” Mr Gibson said.
Located via a 30-minute flight south of Cairns International Airport, the offering of Dunk Island includes 147 hectares of freehold developable land including a Qantas-built airstrip, mains power, an STP and expansive master planned approvals.
‘Dunk Island Resort’ has a rich history of ownership including the likes of Qantas, P&O and Voyages, and was widely recognised as one of the most recognised resort names in Australia.
The former resort was operated as a 4.5-star family resort featuring 160 guest rooms, a 9-hole golf course, multiple food and beverage outlets, tennis courts and a day spa.
The main pool at Dunk Island Resort.
“While Dunk Island has historically been operated as a large format family resort, I think this makes the perfect destination for an ultra-luxury experience-centric resort.” Mr Gibson said, adding, “This is an extremely lucrative model if executed properly as evidenced by the likes of Qualia on Hamilton Island, Saffire at Freycinet in Tasmania and the Baillie Lodges collection. The sheer size of Dunk Island and the unique freehold status also opens up some large development opportunities.”
The sale of Dunk Island follows the recent JLL-brokered sales of Great Keppel Island for $70 million, South Molle Island for $26.5 million and Heron and Wilson Islands for $7.1 million.
“We haven’t seen this much interest in the island market for some time, and noting the low AUD, strong market fundamentals, ongoing public infrastructure investment and improving resort product, the Great Barrier Reef accommodation market is set for a new phase of growth.” Mr Gibson said.
Dunk Island Master Plan.
The Queensland State Government has also put forward their support to drive growth to the region with the recent Great Barrier Reef Rejuvenation Fund, incentivising island resort owners to improve their product matching every dollar invested into back-of-house services up to $5 million.
Other major recent investment in the region include Hayman Island’s $120 million repositioning into an InterContinental Resort, Daydream Island’s $106 million refurbishment and Lizard Island’s $50 million renovation.
Queensland tourism is experiencing record market performance with eight consecutive years of visitation growth, increasing by an impressive 10.6% through 2018. This growth has been the catalyst for the recent investment, and also for the Great Barrier Reef market claiming the 2018 title as the strongest hotel market in Australia for RevPAR growth, increasing by 11.0%.
Dunk Island is being sold by expressions of interest closing Friday June 9, inviting all offers.
For further information, phone or email Tom Gibson via the below contact details.
Related Reading:
Great Keppel Island sold for over $50 million with JLL to commence hotel operator search
Daydream Island opens its doors to first guests
Baillie Lodges expands with North Queensland hotel, Silky Oaks Lodge
Other North QLD hotels for sale:
