Qld: Daydream Island for sale

AAP General News (Australia)
12-09-2001
Qld: Daydream Island for sale

BRISBANE, Dec 9 AAP - Daydream Island, off the central Queensland coast, has been put
up for sale as part of a $100 million property portfolio.

The resort island and a number of premium properties, including six units at the prestigious
Palazzo Versace resort on the Gold Coast, are owned by former vitamin entrepreneur Vaughan
Bullivant.

The portfolio also includes three Sunshine Coast penthouses.

Roy Henzell, chairman of Henzells Agency, said the tender offering was one of the biggest
in recent Queensland property history.

"The tender will be supported by an extensive international marketing campaign and
given Australia's exchange rate and perception as a safe holiday destination we are expecting
a lot of international attention," Mr Henzell said.

Mr Bullivant, who sold the Nature's Own vitamin business which he founded to FH Faudling
for $135 million in 1999, is tendering the properties to focus on other business interests.

He has spent more than $40 million on a major refurbishment of the Daydream Island
resort, which re-opened in September this year as the Novotel Daydream Island Resort.

He is the single largest property owner at the Palazzo Versace resort on the Gold Coast.

The tender will close on February 22, 2002.

AAP pjo/cdh

KEYWORD: DAYDREAM

2001 AAP Information Services Pty Limited (AAP) or its Licensors.