China Capital Investment Group bought South Molle Island Resort in the heart of the Whitsundays in Queensland, Australia, for a reported $25 million, just more than a year after acquiring the nearby Daydream Island Resort and Spa.

Peter Harper from the JJL Hotels & Hospitality Group, the selling agent of South Molle Island, confirmed the sale, hinting that it was sold to "a foreign company with existing interests in the region" but refused to specify the buyer, Whitsunday Times reported. Harper, however, did not specify the final selling price, but during the marketing campaign, agents were quoting the property for near $30 million.

Like Us on Facebook

Under the new owner, the South Molle Island is set to face a "large-scale redevelopment" with an opportunity to create a 1,300-room resort, according to the information memorandum subject for planning approval. South Molle Island Resort features a 12-hectare developable beachfront land, including a frontage of over 600 meters and a secluded 15-hectare parcel in the middle of the island, surrounded by national park. It also has an existing 188-room resort and amenities.

"It's been a joy to share South Molle. It's a wonderful island. It's been an amazing 15 years. I wish the new owners all the best," Craig Ross, owner of South Molle Island Resort, told Financial Review.

On the other hand, Scott Wilkinson, CEO of Daydream Island Resort and Spa that was snapped up by China Capital Investment Group from Nature's founder Vaughan Bullivant for nearly $30 million, said that the new investment shows the confidence of Chinese companies Australia's tourism.

"This was a great opportunity to acquire one of the last large-scale development opportunities in the Great Barrier Reef," Wilkinson said, adding that the two island resorts will provide their guests a diversified experience.

TagsChina Capital Investment Group, South Molle island, South Molle Island Resort, JJL Hotels & Hospitality Group, Daydream Island Resort and Spa, Queensland, Australia Tourism, Whitsundays