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The 300-hectare Waterhouse Island was snapped up by a Singaporean businessman for US$3.9 million. Photo: Ray White/

Singaporean businessman snaps up Australian island for less than the cost of a condo at home

Property agent believes the unnamed buyer plans to use Waterhouse Island as a holiday destination


Always fancied a private bolthole for vacations away from the city bustle?

One Singaporean businessman clearly did, so much so that he reportedly spent almost 5.5 million Australian dollars (US$3.9 million) on an island off the coast of Tasmania, according to a report by Australia's national broadcaster ABC.

For less than the cost of many condos in Singapore - which in March topped the Economist Intelligence Unit's "world's most expensive city" list for the third straight year - the unnamed man purchased Waterhouse Island, a 300-hectare island about 30 kilometers (18.6 miles) off the northeast coast of the Australian state.

The island came with a three-bedroom main house, a guest cottage, sheep-shearing shed, airstrip, permanent power supply and mobile phone reception, the ABC reported.

It could, however, only be accessed only by charter flight or boat, according to the property's sales listing on real estate site

Property agent Ant Manton of Ray White told the ABC that he believed the buyer planned to use it as a holiday destination.

"I think down the track there might be some plans for an eco-tourism type development but at this stage just a magnificent private retreat in the middle of Bass Strait," Manto said.

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