Lizard Island off the market but Heron Island deal done
THE Lizard Island listing for sale on the property market has been withdrawn by owner Delaware North.
But Delaware North has finally offloaded another of its troublesome Queensland assets, selling Heron Island Resort northeast of Gladstone to Canada’s Aldesta Hotel Group for about $7.2 million. Delaware North paid $7.5 million for the resort in 2009, buying it from GPT.
Under the deal, Delaware North will continue to operate the 109-room resort plus jetty for some time.
The majority of Aldesta’s resorts are located in British Columbia, but the company has long-term plans to buy into Australia’s hotel sector.
Meanwhile, Fitzroy Island Resort off Cairns is still on the market with price expectations of about $15m.
Resort Brokers Australia was marketing the resort, the perpetual leasehold and associated development opportunities, before Christmas.
Chinese carrier Hainan Airlines, which last year took an equity stake in Virgin Australia, has pulled out of pur- chasing the Novotel Twin Waters Resort on Queensland’s Sunshine Coast in a major blow to the state’s tourism sector.
Hainan Airlines, China’s fourth-largest carrier, had been preparing to pay about $130 million for the Novotel Twin Waters Resort, buying it from Abacus Property Group late last year.
Hainan, like other mainland Chinese companies, is finding it increasingly difficult to transfer money overseas, senior sources said.
Abacus recently sold Rydges Tradewinds Cairns hotel and the Rydges Esplanade Cairns.