4 kilometres off of the Australian east coast and within the Great Barrier Reef World Heritage Area lies Dunk Island. The island, with its mainland power connection, commercial sealed airstrip, perpetual water, and extensive utilities infrastructure, is a unique site for the property market. Furthermore, it is one of only a few freehold islands on the entire Great Barrier Reef, and as such, is a valuable commodity – for the right owner.
Having been sold repeatedly over the years due to unpredictable weather and its niche asset class, Dunk Island hasn’t possessed a consistent owner for the past decade. That might be set to change, as Annie Cannon-Brookes, the wife of tech billionaire Mike Cannon-Brookes, has settled on Dunk Island, after a negotiations period facilitated by JLL Hotels & Hospitality Group’s Andrew Langsford and Nick Roche, in conjunction with Tom Gibson from CBRE Hotels.
Dunk Island, QLD 4852
“Given the history of this special asset, this is a very significant transaction for both Mission Beach and the greater Queensland tourism market,” stated Mr. Gibson.
Dunk Island isn’t the only island to find a new owner in recent times. Lizard Island was purchased by private investment company Tattarang, run by mining magnate Andrew Forrest and his wife Nicola, in late 2021.
Additionally, hospitality entrepreneur Glenn Piper finalised the purchase of Hook Island, situated between Hayman Island and Whitsunday Island, earlier this year. That property was also sold by Tom Gibson, who described that sales campaign as an expression of the “confidence [that] experienced operators have in our tourism market.” That confidence has only been reinforced by Dunk Island's purchase.
“This transaction reinforces the appeal of investment in coastal locations,” stated Andrew Langsford. “The sentiment [is] that leisure travel across Australia is poised for continued growth.”
As the tourism industry continues to rebound from 2020-2021, expect sales of this ilk to continue, as investors look to capitalise on both the national and international enthusiasm for holidaying in Australia's Sunshine State.
