Two decades after shelling out almost $200 million to buy Hamilton Island, the Oatley family is putting the prized tourism asset on the market.
The family – best known for their extensive history in the winemaking industry and for winning the Sydney to Hobart yacht race nine times – has appointed Ray White Whitsunday realtor Anita Edgar to canvas prospective buyers. Edgar declined to comment, while industry sources have put the value of the asset at around $1 billion. A handful of prospective investors have already visited the island in the past week.
Since they acquired Hamilton Island, the Oatleys have funnelled more than $450 million into upgrading its tourism facilities. That includes more than $100 million spent building qualia, a luxury resort which opened in 2007; $85 million on developing Hamilton Island Yacht Club and Villas, and $45 million on the Hamilton Island Golf Club.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories.