Dunk Island has been purchased by an Australian based development company known as ‘Mayfair 101’.
Mayfair 101 has a further 200 tourism related properties currently under contract with a combined value of investment of over $180 million and it doesn’t just stop there. They intend to spend a further $1.6 billion dollars within the area over the next 15 years creating approximately 10,500 direct and indirect full-time jobs related to construction activity. The managing director James Mawhinney says the company’s vision is “to create a tourism mecca with Dunk Island becoming one of the most sought-after island destinations in the Asia-Pacific region’. This comes as great news for the region with an upgrade to the Innisfail airport also on the cards for Mayfair 101.
Since the news was announced we have seen increased confidence in the area amongst homeowners and real estate professionals. We expect that property prices in the area will increase as the development plans come into full swing over the next few years. We love the Cassowary Coast region and have recently decided to expand our business further south to include Ingham and Cardwell areas. From the rainforest to the reef this area is truly special, and we love working in this paradise.
If you need a property valuation, please don’t hesitate to contact our friendly staff to discuss. Being locals to the Far North ourselves, our passion for the region ensures you get the best service and quality up to date information every time.