PARADISE Bay Island Resort has been handed over to liquidators.

Billed as a romantic island getaway, the resort on Long Island promised no children, no day visitors, no mobile phones or internet and allowed for a maximum of 18 guests at a time.

However, the resort has been closed for about 18 months after it was hit by a king tide during Cyclone Marcia, which struck Yeppoon on February 20, 2015.

The order to liquidate the asset came from the Federal Court in Brisbane on July 29, sought by Deputy Commissioner of Taxation David Diment with WorkCover Queensland as a secondary creditor.

National media have reported there are a number of other creditors, as yet unnamed.

Brenden Nixon, of Stanley Morgan Solvency Accountants, has been appointed to act as liquidator.

Purchased by real estate developer Barry Pickering in April 2012 as a surprise for his wife's 50th birthday, the couple have invested an estimated $25m in upgrading the resort.

This included the addition of an infinity pool, day spa and gourmet restaurant.

Neither Mr or Ms Pickering were able to be reached for comment.

The resort operated under Mr Pickering's company, Adayoun Resorts Pty.

The resort, which is built on government-owned land, has eight years remaining on the lease.

A night at the resort cost $1100 to $1800.

The island's Palm Bay Resort continues to operate, while Long Island Resort in Happy Bay remains closed.