Richlisters circling rare $15m Great Barrier Reef island
Timana Island is up for sale for $15m. Picture: Mission Beach Real Estate
Richlisters are circling a rare $15m freehold island along the Great Barrier Reef with just a shack on it – and the nearest billionaire neighbour 10 minutes boat ride away.
Timana Island – one of the few close to the Great Barrier Reef with private freehold title to the water’s edge in almost undeveloped condition – is between Dunk Island, which was bought by Annie Cannon-Brookes in 2022 for $24m, and Bedarra Island in Queensland.
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It is located between Dunk Island and Bedarra Island in the Coral Sea adjacent to the Great Barrier Reef. Picture: Mission Beach Real Estate
The stunning island is owned by the Veall family of Melbourne. Picture: Mission Beach Real Estate
Mrs Cannon-Brookes and her husband tech billionaire Mike Cannon-Brookes are among the top five wealthiest people in Australia, with Timana Island expected to suit someone in the rich list looking for a quiet escape or room to create an exclusive boutique-style retreat.
The island is owned by the Melbourne-based Veall family which includes former Mondo Rock band member Duncan Veall, who listed their father Ian’s Toorak mansion for sale for $12-13m in 2022.
That Toorak property which had two private single level residences on one title with stunning gardens backing onto the Myer Estate sold in May last year for $14.5m – half a million shy of the asking price for the island.
The success of Atlassian co-CEO Mike Cannon-Brookes, pictured here with co-CEO Scott Farquhar – has seen he and his wife Annie invest heavily into a range of real estate types including Dunk Island. Source: Atlassian
The Vealls Toorak estate sold for $14.5m in May last year.
Duncan Veall, second from right, in a file image from his Mondo Rock days.
Mission Beach Real Estate agent Steve Wiltshire, who has previously lived on Bedarra Island, is already seeing strong interest – from offshore especially.
“I have strong interest. Parties wish to remain confidential,” he said.
Mr Wiltshire said the island was off the mainland from Mission Beach in the Coral Sea adjacent to the Great Barrier Reef in The Family Group of Islands.
“I know this island very well and I’ve lived in the area for 50 years. so boating and island hopping are part of our life. It’s really laid back, it’s beautiful.”
He said the island was “like a paradise whether it’s raining or sunny”.
“This island is 15 hectares, one beach and it’s covered in rainforest which is quite unusual for the Great Barrier Reef islands.”
“You’ve got an old shack on it. It was a three bedder but I don’t want to mislead anyone, it is a shack and will need upgrading.”
Timana Island is a 10-minute boat ride to Dunk Island. Picture: Mission Beach Real Estate
The island could be an interesting private venture. Picture: Mission Beach Real Estate
It is still forested with pathways within the rainforest. Picture: Mission Beach Real Estate
He said the island still stunned him.
“It is just such a magnificently beautiful little island. There are pathways through the island in between all the rainforest trees, avocadoes, mangoes, coconuts, I think there’s a citrus tree or two there. It’s sort of overgrown. It’s really for somebody to put their own stamp.”
He said most people in the area relied on rainwater tanks.
“If you want to live on an island, it’s great to be self sufficient. When my kids were little they learnt how to catch fish, and garden and all.”
He said Dunk and Bedarra have resorts on them which could open some possibility for discussion with council and state authorities around potential for a boutique style property.
“I’m buying lotto tickets madly to buy this,” he said.
