A chance to own an island
START stockpiling your millions because the chance to become the new owner of Keswick Island has arrived.
This week it officially hit the market, although marketing agency Collier’s International has spent the past couple of months gauging interest from overseas investors.
Associate director of Asia markets Jordan Lee said expressions of interest in the island would be open until Au- gust 31, but he estimated $20-$30 million would be required.
This would secure the new owner a 117-hectare development lease with the Queensland Government until 2096.
Approvals for a 25-hectare seabed lease for a 180-berth marina and deep-water jetty have also been signed off.
Although Mr Lee estimated these would cost about $100m to develop, he said it would be sure to offer a solid return on investment. The lease is currently held by Keswick Developments, a group that has infuriated many island residents for years through its failure to follow through with development promises.
The group purchased the island in March 2008, and had promised “villas, condominiums, cafes, shops, a deep-water jetty and improved barge ramps”.
Keswick is one of the southernmost Whitsunday islands.
A PIECE OF PARADISE: Keswick Island Guest House.