South Molle Listed as Whitsundays Sell-Off Continues

South Molle Island is on the block as the Whitsundays asset sell-off continues.

China Capital Investment Group (CCIG) has listed the island in Queensland’s tropical north amid heightened investor interest in Queensland’s Whitsunday Islands.

Known for its white sand beaches, clear waters and secluded bays, South Molle is the largest island in the Molle Group archipelago and one of the closest major islands to the mainland, offering strong transport connectivity benefits.

The listing included combined development parcels totalling about 28ha of beachfront and island centre land across perpetual and long-term leasehold lots.

CBRE Hotels’ Raymond Tran, Wayne Bunz and Tom Gibson have been appointed to manage the international expression-of-interest campaign for the leasehold interest in the island, which was once home to the 188-room Adventure Island Whitsunday resort.

The listing of South Molle comes after a recent flurry of Whitsunday Island transactions, with Lindeman, Dunk, Lizard, Long and Hook islands all changing hands during the past two years.

In May last year, Sydney hotelier Glenn Piper bought the Hook Island Lodge leasehold, while Annie Cannon-Brookes, wife of tech billionaire Mike, bought the abandoned tropical island resort of Dunk Island in July.

And then in November, Lindeman Island was purchased by Queensland property developer Shaun Juniper, with plans to transform the former Club Med site into a six-star luxury health retreat.

A year earlier, Andrew ‘Twiggy’ Forrest and his wife Nicola’s private investment company, Tattarang, splashed $42 million for Lizard Island.

Tran said the opportunity to acquire South Molle Island “provides investors with the ability to redevelop the asset in line with other nearby successful luxury resorts, such as Qualia Hamilton Island, or to provide a more experiential offering including boutique villas or glamping sites”.

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“The current owners have also undertaken a $10m redevelopment of the jetty, to allow for marine vessels to drop off and pick up island visitors, given its popularity as a Whitsundays destination for multiple yacht charters.”

The South Molle holding is accessed via the north-facing Bauer Bay, a popular anchorage for sailing yachts and catamarans as a transient stop for many Whitsunday charters.

“South Molle Island is one of the closest islands to the coast of Queensland and is close to Hamilton Island and Proserpine airports,” CBRE Hotels national director Bunz said.

“The Whitsunday region proved to be one of the most resilient markets through the pandemic.”

The expression of interest campaign closes on September 28, 2023 unless sold prior.

Article source: Queensland Property Investor