- Pumpkin Island Eco Resort has come to market
- The private island is 6.07 hectares, and 14 kilometres from Yeppoon
- A resurgence in buyer interest for the market has been observed
Your opportunity to own a private island in the Great Barrier Reef is now, with Pumpkin Island Eco Resort listed for sale.
According to CBRE, it is only the second time the property has come to market in 62 years, with the island including an operating and profitable eco-resort.
Australia’s private islands
The recent $24 million sale of Dunk Island makes owning a private island in Australia seem more affordable than a Sydney mansion.
The most expensive home sold in Sydney last year went for $60 million, located in Darling Point. Sydney locals told The Property Tribune the mansion is located in a less-than-ideal spot in the harbour, the water tends to emit an odour – making a Great Barrier Reef private island all the more attractive for almost a third of the price.
Other recent Sydney sales made the $24 million private island pale in comparison, a penthouse went for $140 million in 2019 and a $60 million penthouse was acquired in 2021.
Recent private island sales included Lizard Island to Andrew “Twiggy” Forrest’s private investment group Tattarang, Oscar Hotels’ purchase of Long Island and the sale of Hook Island to Meridian Australia, all of which were brokered by CBRE.
Pumpkin Island for sale
This luxurious corner of the Great Barrier Reef is located in the Keppel group of islands. Pumpkin Island is located 10 kilometres north of Great Keppel Island, and 14 kilometres off the coast of Yeppoon.
You can get to the resort via the Pumpkin Island Eco Resort’s private ferry service, Pumpkin Xpress, boat charter, or via helicopter from Rockhampton Airport.
Once there, you’ll be able to enjoy 6.07 hectares of private island bliss, secluded beaches and a balmy 25 degrees Celsius, year-round, on average.
The private island comes with seven self-contained villas, hosting up to 34 people in total; the property also includes a manager’s residence and a staff guesthouse.
Among the amenities: a licensed beachfront bar and sunset lounge venue with a library, fire pit and activities hut.
In addition, the opportunity includes a custom-built 36-seat passenger boat, three registered boat moorings, a helicopter landing pad, and an oyster lease.
A unique history
Pumpkin Island may be an entrancing sanctuary at the tip of the UNESCO World Heritage Site of the reef, but it has a colourful history.
Legend has it that Pumpkin Island was bought for £60 by the previous owner after winning a game of poker in the 1960s. The pristine retreat first opened to guests in 1964 and has flourished into an iconic destination.
Made famous after appearing in a XXXX beer campaign, the eco-resort was temporarily called XXXX Island during a two-year promotion which gave people the chance to win an all-expenses-paid holiday if they found the sought-after golden beer can.
The island was bought for $1.3 million in 2003, by Soujourn Properties, founded by John and Sonja Rumble. The couple passed the business on to son Wayne and daughter-in-law Laureth. The listing was up for sale in 2020, as the couple wished to be closer to family in New Zealand. But the pandemic halted these plans.
“It was the ideal place to spend lockdown during the pandemic,” the owners told 7News. “It is secluded, private, and yet you have total freedom to move around, be outside.”
An award-winning and sustainable private island
Pumpkin Island puts the eco in eco-resort: the hotel was awarded Most Sustainable Hotel in Australasia at the 2018 World Boutique Hotel Awards and was the first beyond carbon-neutral island in Australia, offsetting 150% of its annual greenhouse gas emissions. The island operates completely off-grid, powered by solar and wind energy, with rainwater.
Wayne and Laureth Rumble have appointed CBRE Hotels’ Wayne Bunz and Hayley Manvell to steer the Expressions of Interest campaign following a resurgence of buyer interest in island investment opportunities.
Mr Bunz said, “Pumpkin Island is a profitable island resort which is largely booked out three years in advance to 2026, averaging over 90% occupancy levels and an average rate in excess of $400. With the increasing demand for exclusive eco-tourism offerings, we believe that Pumpkin Island is a bespoke offering that will attract significant interest from both domestic and international buyers.”
Ms Manvell added, “Pumpkin Island has significant growth potential, offering financial and development upside for an incoming custodian. There are multiple avenues for revenue enhancement, including the ability to implement dynamic pricing, and elevating the offering to an ultra-luxe guest experience with additional guest services and amenities. There is also approval to expand the room inventory with the development of an additional two villas and scope to further expand on this subject to council approvals.”
The Expressions of Interest campaign closes on 18th May 2023 (unless sold prior).
