Daydream Island Resort Sells To Chinese Investor 30 Million — Half The Asking Price

2015 – A Chinese real estate company called China Capital Investment Group has bought Queensland’s Daydream Island Resort for the bargain price of just over $30 million.

The buy can only be described as a steal in comparison to its original $65 million asking price.
Last October CBRE Hotels’ agent Wayne Bunz said he expected the sale to go to an Asian investor after specifically targeting the market with video commercials recorded in Mandarin.

“The Chinese are absolutely in love with the Great Barrier Reef, so we’re hopeful we’ll get some renewed interest,” Bunz told News Limited.
“The key thing is for the Chinese, that if you look around at any major economy, Australia is seen as a pretty safe haven to invest.
“It also helps that the dollar’s lower and tourism’s on the rebound with strong growth in the Chinese inbound market.”
The Island resort is the latest in a string of sales in the Whitsundays, following the sale of Lindeman Island to Chinese Group, Whitehorse in 2012, and Orpheus Island for $6.25 million, Bedarra Island for under $5 million and Dunk Island for $7.5 million, all in 2011.
The 1km-long island is home to a 4.5-star 296-room ­resort built by ­Nature’s Own founder Vaughan Bullivant, who paid $25 million for Daydream in 2000.

After an extensive period on the market, the islands sale price was dropped just before Christmas.
The annual turnover of the resort is estimated at $27 million.
Source https://www.businessinsider.com.au/queenslands-daydream-island-resort-sells-to-chinese-investor-for-just-30-million-half-the-asking-price-2015-1#PEgwQbJzVTKqzhoA.99

4 Comments Add yours

  1. Pamela Smith says:

    What a joke ,,, they didant win the War but they are winning Australia anywya,,,,, the war vetrans would turn in thair graves,,, and i dont blame they young Australians for not joining the Army For God Sake I dont think Australia is worth saving with the crooked Government running this Country, no wonder Australia is going under and wont soon be the Lucky Country,,,,,, well it is worth saving and youll see the japs and chineese fighting for Australia in a few years to ckme , the Japs steel from out waters and the Chineese are steeling the land GOD HELP AUSTRALIA

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  2. Norman Guy says:

    Disgusting! The Governments leting it happen!

    Sent from Outlook

    ________________________________

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  3. Lyn says:

    If the island is in Australian territory they should not be allowed to buy it or lease it – their own citizens can not buy land in China !!! why should we allow them to buy our land and assets which have been built by Australians for Australia’s benefit. NO !!!’ TO THE SALE OF OUR LAND AND BUSINESSES TO FOREIGN GOVERNMENTS ESPECIALLY THOSE WHO DO NOT RECOGNISE THE RULE OF LAW HERE!!!!!!

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  4. Peter Rowan says:

    We are selling off the Great Barrier Reef. It is becoming the Great Chinese Barrier Reef. Meanwhile Australians (slaves?) pay to protect the Great Chinese Barrier Reef. Don’t expect the Chinese to sell the Great Wall of China to any Australians.

    Like

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