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Chinese buy Qld's South Molle Island

AAP logoAAP 10/08/2016

Chinese investors have purchased South Molle Island in the heart of the Whitsundays.

China Capital Investment Group (CCIG) have snapped up the island for a reported $25 million, a little more than a year after buying the nearby Daydream Island Resort and Spa.

South Molle features more than 12 hectares of developable absolute beachfront land and boasts lush rainforest, secluded bays and fringing reefs.

Long-time owner Craig Ross put the perpetual leasehold for the island, which has been operating as a backpacker haven, on the market in April.

CCIG said purchasing the island was a great opportunity to expand its presence in the Whitsundays.

Daydream Island Resort and Spa chief executive officer Scott Wilkinson said the investment reflected the confidence the Shanghai-based group had in Australian tourism assets.

"This was a great opportunity to acquire one of the last large-scale development opportunities in the Great Barrier Reef," he said.

"Owning two island resorts like these in the Whitsundays will also provide economies in regards to resources and staffing and ultimately the diversity of guest experiences."

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