Billionaire South African hotelier Sol Kerzner is rumoured to be buying Hayman Island in the Whitsundays from Malaysian investment firm Mulpha Australia Ltd.
The Australian Financial Review reports executives from Kerzner International have been holding talks with federal and state government officials.
Kerzner will reportedly close the existing resort on the island for three months from January next year for renovations.
Kerzner runs the luxury hotel chain One&Only, the Atlantis resort on the Palm in Dubai and has properties in The Bahamas, Mexico, Mauritius and The Maldives.
The Property Observer reports that Mulpha bought the island in 2004 along with other Australian assets including Sanctuary Cove.
According to its website Hayman is "Australia’s most awarded private island", offering "a front-row seat to the Great Barrier Reef and a world of leisure and adventure".
