Tech billionaire Cannon-Brookes buys Dunk Island

Cannon-Brookes

Billionaire couple Mike Cannon-Brookes and Annie Cannon-Brookes have snapped up a neglected island resort in Queensland with the aim of resurrecting it while maintaining the island’s natural beauty.

Dunk Island was sold to Annie Cannon-Brookes for around $25 million marking a new chapter for the resort which has been in limbo for years.

The former Dunk Island Resort, owned by Qantas and international cruise line company P&O, was severely damaged by cyclone Yasi in early 2011.

Since then, the island off Mission Beach has seen a number of owners and failed attempts to bring the resort back to life.

Last year, equity fund Upsense Media Capital announced plans to buy the island for between $20 million and $25 million, but the deal fell apart and the leasehold returned to the family of Linc Energy founder Peter Bond, who had originally bought it after the cyclone for around $7.5 million.