China Capital Investment Group (CCIG) has announced the acquisition of the perpetual lease of South Molle Island in the Whitsundays on Australia’s Great Barrier Reef. It is understood the island was sold for around $25 million.
South Molle Island is CCIG’s second Australian acquisition following the purchase in early 2015 of nearby Daydream Island Resort and Spa.
The sale of the perpetual leasehold interest in South Molle Island was brokered by JLL Hotels & Hospitality Group’s Peter Harper and Tate Stubbs and features over 12 hectares of developable absolute beachfront land, including a frontage of over 600m to one of the only sheltered north facing white sand beaches in the region, and a secluded 15-hectare tranquil parcel in the middle of the island, surrounded by national park.
Shanghai-based CCIG says the purchase of South Molle Island was a great opportunity to expand its presence in the Whitsunday region.
Daydream Island Resort and Spa chief executive officer Scott Wilkinson said, “The acquisition reflects the confidence we have in Australian tourism assets, Queensland and the tourism industry.
“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 investment and tourism potential from both domestic and international visitors is strong and coupled with infrastructure development in the region is an exciting prospect.
“Owning two island resorts like these in the Whitsundays will also provide economies in regards to resources and staffing and ultimately the diversity of guest experiences.
“We look forward to providing local employment opportunities in the region with future development and the creation of more tourism jobs through an ongoing workforce.”
South Molle Island features excellent connectivity to both Airlie Beach and the airports at both Hamilton Island and Proserpine, and is near to famous attractions such as Whitehaven Beach and Heart Reef.
Founded in 1995, China Capital Investment Group specialises principally in investment in China’s real estate, mining and infrastructure sectors.