Dunk Island, Bedarra Island, Sold to Canadian Humanitarian Group

QUEENSLAND’s Dunk Island, and the smaller Bedarra Island nearby, are speculated to be trading to humanitarian group McCall MacBain Foundation for an undisclosed sum.

The two islands were offered by Voyages, which has been trying to sell down its tourist accommodation portfolio for about a year.

McCall MacBain Foundation affiliate Pamoja Capital is reported to be the buyer.

Pamoja – which means “togetherness” in Swahili, undertakes socially responsible global investments within a number of sectors including education, renewable energy and natural resources, life sciences, information technology, real estate and media and communications.

It owns other projects in Canada, Europe and Liberia.

Dunk Island was recently valued at $51.8 million, and Bedarra, for $24.8 million, in December 2007 (and at the peak of the property boom), the AFR reports.

It’ is also claimed one buyer is considering snapping up Voyages’ remaining assets: the Ayers Rock Resort, Lizard Island, Heron Island, Wilson Island, El Questro and Kings Canyon.

Voyages executive general manager Anna Guillian said Bedarra and Dunk islands will operate on a “business as usual” basis. The deals are expected to finalise on September 21.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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