The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
A one-day deep dive on office, retail, healthcare, childcare and alternative sectors
UPCOMING | COMMERCIAL REAL ESTATE SUMMIT
LEARN MOREDETAILS
On Demand

Fireside Chat | Inside GemLife With Adrian Puljich

Building Australia's Newest Airport: Multiplex

The Makers Of The Mondrian | Design, Vision And Delivery Behind One Of Australia’s Most Anticipated Luxury Hotels

Next Gen Now | How Emerging Developers Are Redefining The Game

View All >
Latest News
Scape RMIT PBSA
Student Housing

Scape Eyes University Campus Accommodation Takeovers

Leon Della Bosca
5 Min
Plans for 3-7 River Terrace, tweed heads by turner for briscoe hotel group
Placemaking

Briscoe Greenlit for ‘Transformative’ Tweed Project

Renee McKeown
2 Min
Real Estate

How Rising Costs are Rewriting Portfolio Strategies

Partner Content
6 Min
Placemaking

Queensland Seeks Developer for South Brisbane Visy Site

Lindsay Saunders
3 Min
View All >
Events
Lunch

Women’s Leadership Lunch

Summit

Commercial Real Estate Summit

Summit

Urban Leader Awards

One-Day Course

Property Development Masterclass | Melbourne

View All >
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
SHARE
38
print
Print
RetailDinah Lewis BoucherTue 24 Sep 19

Mayfair 101 Buys Dunk Island

fc2432b8-7c3c-4851-9a42-4fd19bb97be9

International investment and corporate advisory group Mayfair 101 has purchased Queensland’s Dunk Island for around $32 million with plans for a major restoration.

Dunk Island, located four kilometres off the coast from Mission Beach in far north Queensland, was snapped up from vendor former rich lister and founder of Linc Energy group Peter Bond who purchased it in 2011 for $7.5 million shortly after it was devastated by Cyclone Yasi.

The latest purchase builds on Mayfair's plans for the region, the group says it is also under contract to purchase more than 200 tourism-related properties in and around Mission Beach.

The combined value of these property commitments equate an investment of more than $180 million, the group says, with scope to see the region as “the tourism mecca of Australia”.

The revitalisation of the area will be overseen by Mayfair 101’s subsidiary property development division, Mayfair Iconic Properties.

Mayfair says it expects to facilitate more than $1.6 billion in investment into the Mission Beach region over the next fifteen years as part of its revitalisation plans.

Mayfair Iconic Properties, led by newly-appointed chief executive Stuart Duplock, a former General Manager of Hawaiian Group and past state manager of ASX-listed Cedar Woods Properties.

Related: Whitsunday Resort Hits the Block After Receivers Appointed

Dunk Island after Cyclone Yasi


Dunk Island was left in ruins following Cyclone Yasi with the resort left abandoned for eight years.

The Island purchase spans up to three sections of land, around 240-hectares of land, on the Island.

“Located between two world-heritage areas, our vision is to create a tourism mecca with Dunk Island becoming one of the most sought-after island destinations in the Asia-Pacific Region,” Mayfair 101’s managing director James Mawhinney said.

The company says it is already talking to global hoteliers for a luxury beach club and has plans to restore Dunk Island's airstrip and golf course.

The 15-year plans are still subject to government approvals.

Mayfair 101’s wholly-owned subsidiaries include its investor-facing brands Mayfair Platinum, IPO Wealth, and M12 Global, a London-based company specialising in the issuance of retail bonds.

RetailHotelAustraliaReal EstateDeal
AUTHOR
Dinah Lewis Boucher
More articles by this author
TOP STORIES
Sud-slingers are back in action in 2025, with the Sydney market recovering after years of disruption.
Exclusive

Sydney Pub Market Rebounds After Post-Covid Lows

Patrick Lau
5 Min
Gelephu Mindfulness City: Bhutan how a city of the future is planned
Exclusive

Bhutan’s Mindfulness Masterplan Resetting How Cities Work

Renee McKeown
8 Min
Long Bay Correctional hero
Exclusive

Time to Rethink: Fresh Bid to Unlock Prison’s Prime Site for Homes

Clare Burnett
7 Min
Inside NSW Housing Divide-Mosman
Exclusive

‘The Machinery Underneath is Broken’: Inside NSW’s Housing Divide

Vanessa Croll
9 Min
Exclusive

Queensland Decade of Gigaprojects a Developer’s Goldmine

Phil Bartsch
5 Min
View All >
Article originally posted at: https://www.theurbandeveloper.com/articles/mayfair-101-buys-dunk-island