$1.6B vision to restore Dunk Island region and create over 10,000 (FTE) direct and indirect jobs
Updated: Nov 13, 2019
Mayfair 101 has recently purchased Dunk Island and is under contract to purchase more than 200 other tourism-related properties in the Mission Beach area.
Combined, this represents a total commitment of over $180 million in property investment in the region.
The redevelopment of Dunk Island will deliver outstanding opportunities for the communities of Far-North Queensland and drive sustained economic growth.
Mayfair 101 expects to facilitate over $1.6 billion in investment into the Mission Beach region over the next fifteen years, creating over 10,500 direct and indirect full time equivalent (FTE) jobs through construction activity. On an annual basis this will provide approximately 700 jobs annually flowing from construction activity.
The Group has now embarked on a long-term plan to revitalise the local tourism industry and ensure that Dunk Island and its surrounds return to their former position as the jewel in
Australia’s tourism crown.
Mayfair 101's vision is to position the Mission Beach area as a tourism mecca, and for Dunk
Island to become one of the most sought-after island destinations in the Asia-Pacific region that celebrates the precious natural environment and attracts a diverse range of tourists nationally and internationally.
This vision will see the creation of interconnected tourism experiences that celebrate the area’s unique natural beauty, relaxed lifestyle and famed ecology. The plan will be centred on a signature redevelopment of the Dunk Island Resort, supported by key upgrades to tourism infrastructure on the mainland.
Realising these aspirations will draw on the expertise in Mayfair 101’s property development
and management division, Mayfair Iconic Properties, headed by recently appointed Chief Executive, Stuart Duplock. It will see an estimated investment of over $1.6 billion over the next fifteen years, representing one of this century's most significant investments in Queensland's tourism infrastructure.
Economic modelling by the respected consulting group AEC Group indicates that the flow on from this investment will see the creation of 3,680 full time equivalent (FTE) direct jobs and 6,850 FTE indirect jobs in and around Mission Beach over an approximate 15-year development horizon. On an annual basis this is around 700 jobs annually flowing from construction activity.
The reasons for investing in Dunk Island and the surrounding region are numerous. Australia already ranks first globally for visitor spend per trip and ninth globally for expenditure by international tourists (tourism receipts). With visitor arrivals in Australia increasing 4.1% year on year for the period ending February 2019,2 Mayfair 101 is seeking to leverage these trends to grow and foster the Cassowary Coasts’ regional GDP.
Mayfair 101’s vision for Dunk Island and its surrounds supports the Queensland Government’s aspirations through its Advancing Tourism Strategy 2016-203 by:
Focusing on a development approach that will provide premium experiences targeted at high-yield international and domestic visitors
Investing in one of the premier Great Barrier Reef islands and opportunity to showcase one of the natural wonders of the world.
The aspirations for Dunk Island and the region also fit with recently launched Tropical Coast
Tourism's strategy vision 'to be recognised as a leading adventure and lifestyle destination
with diverse, world-class natural experiences'.
To achieve the Group’s vision, Mayfair Iconic Properties will be collaborating with the local community and all levels of government in the creation of a visitor experience that enhances and emphasises the area's unique environment and culture. Together, in partnership, we can realise the full potential of this region's exquisite natural beauty.
Mayfair 101 will soon be one of the Mission Beach region’s largest landholders and is under
contract to purchase over 200 residential, commercial and rural properties capable of supporting its plans to attract local and international tourists, and new residents to the region. The landholdings will enable the Group’s property development division, Mayfair Iconic Properties, to develop a cohesive town planning strategy in conjunction with relevant
stakeholders to achieve its long-term vision for the region.
These properties will be developed to support infrastructure expansion in the region, increase tourism capacity, upgrade existing facilities and drive sustainable economic growth in the region. A particular focus will be on creating a world-class, environmentally sustainable visitor experience that leverages the natural beauty of the region coupled with modern facilities and amenities to rival its local and international competitors.
Please visit www.mayfairiconic.com for more information.
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