Rare waterfront land release on Hamilton Island

by Susan Boyd on 8 Jul 2005 Absolute oceanfront residential land with spectacular views over the Whitsundays is to be released on Hamilton Island for the first time in more than 10 years.

The rare offering of land for sale both in Australia and internationally, involves the sale of 13 elevated villa sites in the prestigious Point Henning precinct on the pristine north-western side of Hamilton Island.

The release of the villa sites, averaging 2074 square metres, coincides with a multi-million dollar upgrade of the island by Hamilton Island Enterprises (HIE).

Upgrade works include a revamped marina and proposed yacht club, upgrading of the existing shopping village and Reef View Hotel, and a proposed 18-hole golf course on nearby Dent Island.

The island is also set to benefit from new air services by Virgin Blue and Qantas starting this month, adding passenger numbers to the existing daily Jetstar flights servicing the island from Brisbane, Sydney and Melbourne and daily Qantaslink flights from Cairns.

Point Henning will offer an uninterrupted panorama across Dent passage and adjacent islands and is surrounded by natural bushland.

The total value of the land on offer is expected to be around $26 million. Blocks are expected to be priced from $1.5 million.

Christie Leet, principal of PRDnationwide Whitsundays, says the release of the land represents one of Australia’s rarest property opportunities.

‘It is no exaggeration that this is a once in a lifetime opportunity. The availability of property in this major national and international island destination in the heart of the Great Barrier Reef is certainly finite,’ says Mr Leet.

‘The release of land is simply a rarity at Australia’s premier resort and residential island, where the majority of the island will be preserved forever in its natural, pristine state.

‘Additional plans to upgrade infrastructure at Hamilton Island and expand on existing services and activities will only add to the appeal and the opportunity for excellent capital growth in the future.

‘It’s not just a luxurious lifestyle opportunity but a prime investment.’

Mr Leet says Point Henning is destined to become one of Hamilton Island’s prestige residential addresses, and undoubtedly one of the most sought after on the eastern seaboard.

‘The quality of land at Point Henning and its uniqueness will attract major interest not only from throughout Australia but internationally simply because of its premier location, being only two hours from Sydney with daily flights.

‘We also believe international interest will be strong because of the Foreign Investment Review Board exemptions on the island and our past history of attracting international buyers.’

Building guidelines at Point Henning will ensure the highest possible standards of design.

All homes are to be built within four years of land purchase, ensuring the establishment of a luxury community.

Residents are also being offered the opportunity to secure a 10-year marina berth sub-lease on the soon to be expanded marina.

Hamilton Island is located in the heart of the World Heritage listed Great Barrier Reef Marine Park, with only seven of the 74 islands developed, but only a very small percentage with private dwellings.

The island has been a significant magnet for international celebrities. The estate of the late Beatle George Harrison retains a mansion on the island.

Diminishing land supply and an increasing awareness of the unique lifestyle location of Hamilton Island are continuing to drive price growth on the Whitsunday Island.

PRDnationwide research shows that house prices on Hamilton Island have surged by up to 154 per cent since the property market peaks of 2003.

One property achieved a capital growth of 495 per cent since 2001, having realised a purchase price this year of $2.17 million after being purchased in 2001 for $365,000.

Mr Leet says Hamilton Island is a unique market primarily led by available supply, with limited stock driving prices up on previous years, contrary to the overall direction of the property market in Australia.

‘The Hamilton Island property market has performed very strongly over the past few years, especially in relation to price growth, and the fundamentals of supply and demand indicate further growth is likely,’ he says.

Hamilton Island was purchased 18 months ago by the Oatley family, headed by billionaire Australian businessman Bob Oatley.

The family has a vision to transform the Whitsunday Island into one of the world’s most renowned resort and residential destinations.

Future developments include an 18-hole golf course designed by five time British Open champion Peter Thomson planned for nearby Dent Island located only 900 metres away. The golf course is in the final stages of approval.

HIE chairman, Sandy Oatley, says the vision for Hamilton Island will create ‘the most desirable island resort in the South Pacific, for both Australian and international guests'.

‘The potential of Hamilton Island has never been fully realised and we believe the geographical location coupled with our plans will set the platform for the creation of a holiday and lifestyle destination unique and unrepeatable anywhere else in the world.

‘We believe the natural waterways and unspoilt beauty created by the 74 islands of the Whitsundays plus the attraction of the Great Barrier Reef provide the perfect backdrop for these plans,’ he said.

Hamilton Island’s wide variety of accommodation has attracted visitors from both Australian and international origins with a range of three to five star hotels and a variety of self-contained apartments to satisfy all holiday maker budgets.

The island is home to the Hamilton Island Race Week, one of Australia’s and an emerging international sailing regatta. Hamilton Island Race Week was judged the best significant event and festival at the last Australian Tourism Awards.

Hamilton Island is currently one of Australia’s most popular domestic tourism destinations and is a major attraction for international visitors.

A recent survey of more than 15,000 travellers by Trailfinders, one of the United Kingdom’s largest travel companies, voted Hamilton Island as the best resort in the South Pacific.