Private Queensland 'party island' now on the market for less than $500,000
Home buyers might not get much in Sydney or Melbourne for $495,000, but in Queensland that will get you an entire island. A discounted one at that.
Wedge Island, which is about one kilometre from Great Keppel Island and five kilometres from the central Queensland coast has had a price cut, reduced from $850,000 after being on the market for a year.
That’s still more than $200,000 less than the Sydney median house price of $1.15 million.
Wedge island. Photo: Supplied
There’s no house, but there is more than 9 hectares of space to put one on, and a boat mooring, eco-toilet and generator. At one point there was also a shed, but it was destroyed by Cyclone Debbie.
The island was reportedly used by a group of young friends as a getaway and party spot. The agent, Richard Vanhoff, from australianislands.com.au, was quoted as saying that he’s had quite a bit of interest from the southern states.
“That’s surprising because I haven’t seen any demand for islands from that region for quite some time. In the last few weeks most of my business has come from down south – I think they are feeling the cold of winter”, he said.
One of the beaches on the island. Photo: Supplied
The Great Barrier Reef Marine Park Authority maps show the water around the island as a Habitat Protection Zone.
Islands for sale are rare, but they do pop onto the market from time to time. Turtle Island off the coast of Gladstone, also in Queensland, and owned by Sydney actor Brendon Lunney, was listed for sale in July 2016.
And Garden Island, in Port Stevens, NSW, was put up for sale in April.
Get a weekly roundup of the latest news from Commercial Real Estate, delivered straight to your inbox!
