05 October 2014, By Mark Reidy
Buy Your Own Island Off Queensland’s Coast
1 min read
Ever wanted to own your own slice of paradise? With vendors for Daydream Island slashing the asking price to a mere $30 million, you could buy your own island right off Queensland’s coast. The winning ticket in this Thursday’s Powerball draw could make all your dreams come true!
The island’s current owner, pharmaceutical magnate Vaughan Bullivant, originally set the sale price for $65 million, nearly three times the amount he bought it for in 2000. After sitting on the market for two years, Mr Bullivant has decided to lower his expectations and cut the asking price in half. If the island sells for the desired price, it will still be one of the largest sums paid for an Australian resort island in the last few years.
One commercial real estate agent said he was “confident” that the right buyer could be found thanks to renewed growth in the tourism sector, citing the “romance, prestige, and ego” associated with owning your own island. With an annual turnover of nearly $30 million, the 4.5 star Daydream Island resort could prove a solid investment, especially if the new owner managed to upscale the resort to achieve a 5-star rating. Chinese investors are thought to be first in line to buy, thanks to Australia’s reputation as a “safe haven” for investment and our low dollar value.
Daydream Island, located in the Whitsundays, is a mecca for sailing enthusiasts and the gateway to the Great Barrier Reef from Queensland’s central coast. With a variety of resort activities such as snorkelling, sail-boarding, jet-skiing, parasailing, coral viewing, scuba diving, volleyball, and tennis, Daydream Island is a hidden jewel just waiting to be snatched up.
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