Dunk Island sells, Lindeman to follow

The shake up in the north Queensland resort market continues with the sale of Dunk Island Resort in Far North Queensland, the second in the Hideaway Resorts portfolio to go under the hammer.

The sale of the island which will now be re-furbished and relaunched following, follows the sale of the other asset in the portfolio, Bedarra Island Resort, which was acquired by the Brisbane-based Charlton Hotel Group.

Wayne Bunz senior director of CBRE Hotels which negotiated the sale said the Hideaway sale campaign had attracted more than 160 enquiries from local and offshore groups.

"Various bids were lodged from a myriad of different investor types, including a number of high profile, high net worth individuals, to buy the assets either in one line or to acquire the individual resorts," Bunz said.

"It is very positive to see such a high level of interest for an asset of this calibre considering market conditions."

CBRE Hotels have also been appointed to sell Club Med Lindeman Island in early 2012.

Source: Hospitality Magazine