Whitsundays’ Lindeman Island returns to Australian ownership

Lindeman Island in the Whitsundays has been bought by an Australian Investor after being owned for a decade by a Chinese development group.

The latest among a number of islands - including Hook, Long, Dunk and Lizard islands - to have been bought by Australian investors over the past 18 months, the sale of Lindeman Island, near Airlie Beach in the Whitsundays was brokered by CBRE Hotels National Director Wayne Bunz.

While advising that contracts had been exchanged with settlement expected in early 2023, Bunz declined to reveal the identity of the buyer or the sale price.

Bunz told the ABC "I'm pleased to report that it has been sold to an Australian owner, but due to client confidentiality we can't reveal the new owner's name.”

Lindeman Island was once home to a Club Med resort but has sat idle for a decade since it was bought by Chinese developer White Horse, with plans for a $580-million revitalisation that have not been realised.

Queensland Tourism Industry Council Chief Executive, Brett Fraser said the sale showed a return to confidence in Queensland tourism, commenting “these sorts of assets are challenging and the fact that we have seen the changing of hands in those islands is positive.

"Island resorts across Queensland have been the cornerstone of the tourism industry for decades, so getting them back on the market for customers is a great idea."

In July, Annie Cannon-Brookes, wife of tech billionaire Mike Cannon-Brookes, bought the troubled Dunk Island off Mission Beach in Far North Queensland.

The former 160-room Dunk Island Resort, which had previously boasted a nine-hole golf course, restaurants, tennis courts and day spa, was flattened by Cyclone Yasi in 2011.

Sydney developer Glenn Piper in May bought the cyclone-battered Hook Island in the Whitsundays, while in May 2021, a NSW hospitality group acquired Long Island in the Whitsunday.

Bunz believes that the Lindeman Island sale contract fed off the sale of other islands, commenting “we always welcome foreign investment into our property and tourism sectors, but it is great to see strong demand from Australian investors into owning and reinvesting into these islands.”

However, the future remains uncertain, for other island including Great Keppel, Keswick, Brampton and Double islands.

Commenting on this, Fraser noted “those islands are good examples of some of the challenges that we face with tropical islands.

"Those islands are exposed to challenging environmental conditions and the last few years through COVID-19 certainly hasn't helped that.

"The return of domestic tourism over the past 12 months is back to pre-COVID levels, and we are hoping that with the return of international travel, it will motivate those owners to re-look at those islands."

Image: Lindeman Island. Credit: CBRE Hotels.