It’s the dream of rich entrepreneurs all over the world – the chance to own a private island. Now, Linc Energy founder Peter Bond has done just that, snapping up Queensland’s Dunk Island for $10 million to use as a private getaway.
Bond joins a number of entrepreneurs who have taken the plunge into owning their own island, with Richard Branson also holding the Queensland Makepeace island, while Microsoft co-founder Paul Allen also holds a number islands – he is selling one at the moment for $US13.5 million.
Bond picked up the island to use as a private resort for his family, but has told the Australian Financial Review there are currently no plans for the commercial division of the resort island.
“I have a large family – six kids – and it’s growing rapidly,” Bond said. “It’d like to turn the island into a second residence, an anchor where our family can come together.”
The island was purchased through the McCall MacBain Foundation, and features a large resort with 150 hectares of land and 160 rooms. However, several parts of the resort itself have been damaged by Cyclone Yasi.
“The downturn has made it more affordable but I am not a resort owner and I still need to get my head around it… we might joint venture it.”
The purchase comes during a tumultuous year for Queensland resorts, many of which have been battered by flood and cyclone damage, along with a downturn in the tourism industry.
The Gold Coast Couran Cove resort has shut its doors, while Meridian also placed a large resort into administration in September. The Bale resort in Port Douglas was also closed earlier this year.
Yesterday, Club Med also said it would be selling its only Australian resort in Queensland to search for another property within the country.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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