Billionaire owners list private island in Whitsundays for mystery price

South Molle Island in the Whitsundays has been listed for sale, eight years after it was devastated by a cyclone. 

The owners are China Capital Investment Group, a Shanghai-based conglomerate helmed by billionaire Chuanyou Zhou. 

The group bought the island in 2016 for $25 million.

At the time, the island was home to an 188-room luxury resort with several swimming pools and a private golf course. 

But just months after the deal took place, Cyclone Debbie razed much of the infrastructure to the ground, leaving the resort in a derelict state. 

Today, the once-pristine pools are filled with swampy algae and littered with roof tiles. 

Safety fences section off the damaged buildings from day-trippers who come to explore the public walking trails. 

South Molle Island is now for sale to a visionary investor or developer who is keen to bring the resort back to life.

“Islands are interesting, you get very diverse interests, and we think there will be international interest for this,” said Andrew Jackson, national accommodation director with HTL Property. 

“The owners have had approaches over recent years from people with ideas for very high-end luxury resorts, and I think that will be a really good use for this island.” 

South Molle Island boasts 28 hectares of developable land with stunning views over the Coral Sea. 

For hikers, there are 16 kilometres of walking trails through the Molle Islands National Park. 

Jackson believes South Molle Island is likely to sell to a high net worth individual. 

“This one is obviously a little bit different because of the cyclone, so it will be somebody who wants to start with a blank canvas and make their own mark,” he said.

The island is for sale via an international expressions of interest campaign. 

No price guide has been named for the island, which was last asking around $30 million in 2023. 

“It’s unique and it’s difficult to price,” Jackson said. 

“But interest rates are trending down, tourism and travel is back up, COVID is a long way in the rear-view mirror now and everything is trending up. Visitation to Australia is really strong and growing from international markets – so everything bodes well for this sort of asset now.” 

Neighbouring islands in the Whitsundays have recently proved popular with wealthy buyers. 

Annie Cannon-Brookes, a fashion designer and climate activist, bought nearby Dunk Island in 2022 for $24 million. 

Meanwhile, mining magnate Andrew ‘Twiggy’ Forrest splashed $42 million on Lizard Island in 2021. 

South Molle Island is for sale with Andrew Jackson, Andrew Jolliffe and Paul Nyholt from HTL Property. 

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