This article is from the Australian Property Journal archive
VICTOR Island in the Whitsundays has sold for $2.51 million at a mortgagee auction – a 31% discount to what Kingdom Developments, which has since partly collapsed, paid just two years ago.
The 3.14-hectare island is now in the hands of a Queensland family that won out from 14 other registered bidders.
Victor Island, one of the very few, privately owned, perpetual leasehold islands located at the southern end of the Whitsundays and Great Barrier Reef Marine Park, features a newly renovated and furnished four-bedroom, two-bathroom house, and has a separate detached caretakers’ cottage.
It was sold through Ray White.
Marketing agent Michael Willems said they ended up with 15 registered bidders and a bidding war that came down to three parties battling it out for 20 minutes.
“The family who bought it will use it for family holidays whether that be weekends or lengthier stays,” said Andrew Bell of Ray White Surfers Paradise.
