)
CHINA Capital Investment Group (CCIG) has bought its second island in the Whitsundays.
Today it announced the purchase of South Molle Island for a reported $25 million, which comes about a year after its acquisition of Daydream Island Resort and Spa.
CCIG bought the island from long-time leaseholder Craig Ross, who put the property on the market in April.
The perpetual leasehold interest in South Molle Island includes more than 12 hectares of developable absolute beachfront land, including a frontage of more than 600m to one of the only sheltered north facing white sand beaches in the region.
It also includes a national park and a golf course.
South Molle is recognised as one of the least-developed resort islands in the group directly offshore to Airlie Beach, which includes Hayman Island, Daydream Island and Hamilton Island.
Its small resort, The Koala Adventure Island Resort, has received a series of shocking reviews on Trip Advisor.
Daydream Island Resort and Spa chief executive officer Scott Wilkinson pointed to the fact there could be "future development" on the island.
"The investment and tourism potential from both domestic and international visitors is strong and coupled with infrastructure development in the region is an exciting prospect," he says.
There is also likely to be more shared services between South Molle and Daydream Island.
"Owning two island resorts like these in the Whitsundays will also provide economies in regards to resources and staffing and ultimately the diversity of guest experiences."
Founded in 1995, China Capital Investment Group specialises principally in investment in China's real estate, mining and infrastructure sectors.
A resort on South Molle Island was first established in 1937. In 1970, cyclone Ada destroyed the island's resort.
Get our daily business news
Sign up to our free email news updates.
)
)
)
)
)
