South Molle Island sold to West Molle owners

South Molle Island sold to West Molle owners
South Molle Island sold to West Molle owners

Daydream Island owner China Capital Investment Group has secured South Molle Island in the Whitsundays in the Great Barrier Reef for about $25 million.

The leasehold tropical island was sold by long-time owner and tourism identity Craig Ross.

It has 12 hectares of developable beachfront land and an existing 188-room resort.

The island offered the potential, according to the information memorandum, to develop a 1300-room resort, subject to planning approval.

The Shanghai-based China Capital Investment Group secured the Daydream Island (West Molle) Resort and Spa last year from Nature's Own founder Vaughan Bullivant for about $30 million. The 4.5-star resort has 296 rooms and suites.

The company was founded by Chuanyou Zhou, the chairman and CEO. Its invests in the mining industry, real estate and infrastructure.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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Whitsundays South Molle

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