Louth Island could be turned into a personal holiday escape. Picture: Supplied by Savills.
A luxury island resort has attracted more than a dozen inquiries from buyers looking to shut down the award-winning tourism venture and keep the 135ha island all to themselves.
Selling agent Nicholas Lower, of Savills, said he had fielded 100 inquiries for Louth Island since it hit the market last month, including at least 15 who wanted to turn the property into their personal holiday escape.
“That really surprised me,’’ Mr Lower said.
“I thought we might have one or two like that but there’s been many people that would like (to buy the property to use) as a private resort or a holiday home.
Rumi on Louth resort on Louth Island hit the market last month. Picture: Supplied by Savills.
It’s had plenty of interest, including from some who want to keep it all to themselves. Picture: Supplied by Savills.
“I guess rather than go somewhere like Victor (Harbor), you’d be going to the island (for summer holidays).
“It would be intriguing to see if someone will buy it as a holiday home. It would be pretty incredible.’’
The island, which served as a pastoral sheep station for more than a century, was purchased by Che Metcalfe – co-founder of Uniti Wireless – and his wife Natasha for $2.5m in 2021.
The couple transformed the island into a world-class $30m eco-resort, known as Rumi on Louth, with accommodation for about 20 people and acclaimed fine dining eatery Samphire Restaurant.
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However, business operations ceased in May as the Metcalfes considered whether to proceed with further development of their ambitious tourism project.
There are approvals in place for a $20m second stage, including 43 additional villas, pavilions and other rooms, a second restaurant, Japanese-inspired day spa, pickleball courts and walking trails.
Mr Lower said many of those inquiring about the island, which is a 10-minute boat ride from Port Lincoln, had expressed interest in continuing with the expansion plans.
It would be the ultimate private holiday resort. Picture: Supplied by Savills.
“We’ve also had a couple of people from overseas that, if they were to buy it … have said they would probably sit on it and hold it and not operate the asset at all,’’ he said.
“I would personally like to see it operate – it’s a beautiful part of the world.
“But it’s always hard to say (who the successful owner will be before offers close).
“It will be nice to visit it in 12 to 18 months and see what it’s become.’’
No price guide has been disclosed for the island but it’s unlikely to come cheap, with Hamilton Island, in the heart of Queensland’s Whitsundays, selling to a US equity firm for a reported $1.2b last year.
Australia has more than 8000 islands, with most owned and managed by state and federal governments, or owned privately under long-term lease arrangements.
Louth Island is a rare, privately-held freehold offering, with multiple beaches and no leasehold tenure risk.
Expressions of interest for the property close Wednesday.
– by Lauren Ahwan