Queensland's Dunk Island to remain in Australian Hands
Updated: Nov 13, 2019
Mayfair 101 is excited to announce the purchase of Queensland’s iconic Dunk Island.
Alongside the purchase of Dunk Island, Mayfair 101 is also under contract to purchase over 200 tourism-related properties in and around Mission Beach as part of plans to revitalise tourism in the area. The combined value of these property commitments represents an investment of over $180 million.
The vision is to position Dunk Island and Mission Beach as a tourism mecca that celebrates the precious natural environment and attracts a diverse range of tourists nationally and internationally.
To realise this vision, 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.
Mayfair 101’s Managing Director James Mawhinney said that it is an honour to have the opportunity to purchase Dunk Island and restore it to its former position as Australia’s premier island resort destination.
“Dunk Island is an iconic part of Australia’s history,” Mr Mawhinney said.
“Located between two world-heritage areas, our vision is to create a tourism mecca with Dunk Island becoming one of the most sought-after island destination’s
in the Asia-Pacific region.
This vision will be led by a signature redevelopment of the Dunk Island Resort, supported by key upgrades to tourism infrastructure on the mainland.
“Central to our vision is the creation of a series of interconnected tourism experiences that celebrate the area’s unique natural beauty, relaxed lifestyle and famed ecology.
“Through this investment Mayfair 101 will be working to revitalise the local economy, support upgrades to local infrastructure and create new local jobs.”
A key part of the ongoing success of the endeavour will be effective engagement with the local community.
Cassowary Coast Mayor, John Kremastos has acknowledged the impact that Mayfair 101’s announcement would bring to the local tourism industry.
“We welcome this type of investment into our region which reinforces this Council’s decision to develop a strong local tourism strategy and offer development incentives to drive investment to our region and in particular Mission Beach,” Mr Kremastos said.
The revitalisation of the area will be overseen by Mayfair 101’s subsidiary property development division, Mayfair Iconic Properties.
$1.6 billion investment into the region over the next 15 years creating an estimated 3,680 FTE direct jobs and 6,850 FTE indirect jobs (or 245 direct jobs per annum and 460 indirect jobs per annum).
Mayfair 101 is now under contract to purchase over 200 tourism related properties in the Mission Beach area with a total investment in excess of $180 million.
Mayfair 101 is exploring opportunities for a potential upgrade to Innisfail Airport (subject to Council consideration and endorsement) to provide access for commercial flights.
About Mayfair Iconic Properties
Mayfair 101’s property development and management brand, Mayfair Iconic Properties, comprises a team of specialists with over $5 billion of combined property development experience. Mayfair Iconic Properties is headed up by Chief Executive Officer, Stuart Duplock a former General Manager of Hawaiian Group and past State Manager of ASX-listed Cedar Woods Properties. Mr Duplock brings considerable experience in working with regional communities on complex development projects across tourism, hospitality, retail, commercial, residential and aged care.
Please visit www.mayfairiconic.com for more information.
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