Feb 17, 20202 min
Updated: Jun 28, 2020
The Mission Beach region was badly impacted by cyclone Yasi in 2011. Since then the town has seen a significant increase in unemployment, businesses shutting down and evidence of the damage remains nearly a decade later.
In early 2019, Mayfair 101 identified the location as a significantly undervalued region that was once the jewel in the crown of Far North Queensland, which presented an opportunity to restore value rather than create value from scratch.
Since its purchase of Dunk Island and over 240 properties on mainland Mission Beach, the Mayfair 101 Group has embarked on a 10-15 year plan to turn the region into Australia’s tourism mecca, which is estimated to create over 10,000 jobs in Far North Queensland.
The social benefits of a project such as this are many – increased employment (both direct and indirect), economic growth for the town resulting from renewed visitor interest, emergence of new business opportunities for professionals and improved community sentiment.
Mayfair 101’s property development division, Mayfair Iconic Properties, has given consideration into using environmentally friendly processes and materials in the development plans.
They have already undertaken environmental studies to map the habitats of native animals, such as the cassowary, and have engaged with consultants that specialise in building sustainable structures both to minimise the carbon footprint but also withstand adverse weather conditions.
The group’s Managing Director James Mawhinney considers the social impact benefit of its investment in Mission Beach to be considerable. “The scale of our investment has already provided a significant boost to the local economy creating a win-win for locals, our investors, and the Mayfair 101 Group.
“We are fortunate to be in a position where we have access to significant amounts of capital and we always want to put this to use where it can create positive outcomes for all.”
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