Two left standing in battle to buy former XXXX Island

AN award-winning $25m Queensland eco-tourism island which once enjoyed a beer soaked reputation has attracted dozens of would-be buyers.

The 6ha Pumpkin Island in the Southern Great Barrier Reef’s Keppel Group of Islands is being sold by Sojourn Properties which bought the rolling lease in 2003 that is current until 2046. The property was leased by Castlemaine Perkins between 2012 and 2015 and was renamed XXXX Island as a promotional campaign, with 3000 people visiting the island during that time.

Knight Frank’s Pat O’Driscoll said the recently closed campaign attracted “a mixed bag” of more than 100 inquires from Australia and overseas.

“But drilling down into that, we’ve given financials and full details to about 18 groups,” he said.

“We’re in discussions with two at the moment – one Sydney-based group looking at the island as a safe haven or getaway and still run the resort as it is, and the other, an offshore corporate group looking to take it up to the next level.”

Pumpkin Island first opened to guests in 1964 and is a private whole island escape for couples, families or groups.

The Rumble family which owns Sojourn Properties paid just $1.3m for the leasehold property 17 years ago and hoped to sell it for around $25m.

The island currently offers eco-friendly accommodation for up to 34 guests in five fully self-contained oceanfront guest cottages and two bungalows with an open-air kitchen and bathroom facilities.

Mr O’Driscoll said while discussions were being held with two groups, a number of other parties were still interested. However, he said with border restrictions the sales process had slowed.