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Peppers expected to fetch $15m

ATTRACTIVE INVESTMENT: Peppers Airlie Beach.
ATTRACTIVE INVESTMENT: Peppers Airlie Beach. Contributed

THE Whitsundays' prestigious Peppers Resort - frequented by the likes of Brad Pitt and Angelina Jolie - is expected to sell for about $15 million according to a commercial property site report.

The real commercial .com.au article also suggested Asian interest in the resort was likely to be strong.

CBRE Hotels' agent Wayne Bunz, who is involved in managing the sale on behalf of McGrathNicol and in conjunction with PRDnationwide Whitsunday, has been quoted as saying he expects Chinese interest in the property.

"We have been inundated with enquiries for leisure assets of late, particularly from mainland China,” Bunz reportedly said.

"Investors are looking to enter key leisure markets and capitalise on their potential for further growth, particularly in light of the softening Australian dollar, which is creating favourable market conditions for the local tourism market.”

Chinese investment in the Whitsundays has continued to grow in recent years with the China Capital Investment Group expanding their holdings from Daydream Island to South Molle Island earlier this year.

Chinese money is also behind the development of Lindeman Island and the mainland Club Crocodile Resort in Airlie Beach is currently undergoing a re-vamp after its sale to a Singaporean group.

Expressions of interest on Peppers Airlie Beach are set to close today, October 20.


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