Australian-owned international investment and corporate advisory group Mayfair 101 has confirmed it has purchased 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.
Mayfair 101’s 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 15 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 revitalisation of the area will be overseen by Mayfair 101’s subsidiary property development division, Mayfair Iconic Properties.
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 destinations 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.”
