How the major restoration of Dunk Island will support the Mayfair 101 portfolio
Updated: Nov 13, 2019
Mayfair 101's Group Managing Director, James Mawhinney discusses how the purchase of Australia's iconic Dunk Island and its plans to restore the property will benefit the local community and the group's portfolio.
Mawhinney says that the group has 250 properties on the mainland under contract. "As part of the groups responsible investment management strategy we have to make sure our portfolio is well diversified in both tangible and intangible assets."
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. "We anticipate that the $1.6 billion dollars invested in the region over the next 15 years" stated Mr. Mawhinney.
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.