Island & Resort Commercial Property

The Bond family, which has seized control of Dunk Island from troubled investment house Mayfair 101, could put it back up for sale as ambitious plans to convert it into a $1.5bn tourism mecca have all but collapsed.

Property and investment house Mayfair 101’s hopes of transforming Dunk Island into a $1.5bn tourism mecca appear to be in tatters, after the Federal Court appointed Grant Thornton as provisional liquidators of key parts of its empire.

A small, private island at the southern end of the Great Barrier Reef has hit the market for the first time in 17 years, with the slice of tropical living coming with a price tag of $25 million.

The stunning New Zealand island where Oscar winner Russell Crowe once toiled away as a hospitality worker could be yours for a cool $38 million.

Investment manager Mayfair 101 has been hit by a ruling in the Victorian Supreme Court that ordered its IPO Wealth Holdings unit into provisional liquidation and could crimp its dreams of reviving Queensland tourism icon Dunk Island.

The future of investment house Mayfair 101’s plans to transform Dunk Island and nearby Mission Beach into a $1.6bn tourism mecca hangs in the balance after assets controlled by a separate fund it manages fell into the hands of receivers.

Some of Australia’s wealthiest resort island and boutique hotel owners are anticipating a rush of new business as cashed-up Australians eschew traditional European holiday boltholes in Sardinia and Provence.

South Stradbroke Island’s popular eco-tourism resort McLaren’s Landing has sold, price undisclosed.

Major resorts and hotels including the multi-billionaire Oatley family’s flagship Hamilton Island in Queensland’s Whitsundays have closed, while Malaysian gaming giant Mulpha has shut its newly refurbished ultra-luxe InterContinental Hayman Island as the spread of COVID-19 continues apace.