Clive Palmer
Clive Palmer Chris Ison

Palmer and friends eye bargains

BILLIONAIRE mining magnate Clive Palmer is just one big fish casting his eye over bargain investment opportunities in the Whitsundays.

There was speculation Clive Palmer was looking to buy the ex-Club Med resort on Lindeman Island, and while it seems he has been beaten at the post by an international buyer, he still has the chance to buy two other distressed resorts in the Whitsundays.

Mr Palmer's media team was contacted but did not want to comment on claims he had been looking at purchasing the resort.

Yesterday some national media reported the island's resort, which closed in January this year, had been sold to an Asian party.

Although no reports could be confirmed, Tourism Whitsundays chief executive officer Peter O'Reilly said an international group was looking to buy the resort last year.

"I don't have information on that (the sale of the Lindeman Island resort)," Mr O'Reilly said.

"I do know most of last year a Chinese group certainly showed interest.

"Whether that's the same group, I don't know."

Mr O'Reilly said Paradise Bay's Eco Resort and Palm Bay's former resort Peppers were still for sale.

"(Paradise Bay is still) operating but it's in receivership," he said.

"The owners (of the resorts) want to move the products on and we as an industry are keen to see new capital come in.

"(We could) see (them) change hands over the next couple of months.

"We've been assisting in the provision of information.

"But until sales have gone through and the parties involved want to make an announcement we can't comment specifically."

Mr O'Reilly said the resorts were being sold for bargain prices.

"The assets being sold are distressed," Mr O'Reilly said.

"Sales suggest bargains are there to be had."

Meanwhile, Mr O'Reilly said other leisure tourist destinations in the Whitsundays had been popular over the Easter break.

"The Easter long weekend was very busy," he said.

"Everywhere was very full; pretty much close to capacity.

"We benefited by having longer school holidays. Due to the government's new holiday structure. "



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