Daydream sells to Chinese group
Nature’s Own founder Vaughan Bullivant has sold his beloved Daydream Island to a Chinese real estate company, China Capital Investment Group, for just over $30 million – half its original $65 million asking price.
Mr Bullivant paid $25 million for the resort in 2000 from Village Roadshow along with Keith Williams (since bought out) but deteriorating health problems forced Mr Bullivant to accept a lower offer.
The annual turnover of the resort is estimated at $27 million and Mr Bullivant has spent $50 million creating the resort and on renovations since Cyclone Yasi in 2011.
“Daydream has always been extremely important to me, and I’ve put many years of my life into making it the beautiful tropical island resort that it is today, as have many staff and my Daydream Island management team,” Mr Bullivant said. “But I’m 65 now and looking to at some stage put my feet up and enjoy doing other things in life, including more travel and spending time with my family, which has long been my goal.”
