A rare Tasmanian island could be yours for just $5.5 million

If you’ve ever had dreams of buying a private island on a “when I win lotto” list, it is time to buy a ticket – an island off Tasmania’s coast has hit the market.

Waterhouse Island, accessible only by charter flight and boat, is located three kilometres off the state’s north-eastern tip and could be all yours for just a few million dollars.

To secure 287 hectares of what the listing agents describe as “untouched beauty and the tranquility of a distinctly Tasmanian character”, you only need to fork out $5.5 million.

Ray White’s Ant Manton, who is managing the unusual sale, described the island as a magnificent spot. 

Mr Manton said there were approximately 6000 islands surrounding Tasmania but only nine of them were freehold, making the sale of Waterhouse Island a unique opportunity.  

“It is the first island that we have had the pleasure of offering” he said.  

Earlier this year, the comparatively smaller Ninth Island in the Bass Strait passed in at auction for $1.19 million, when bidding stopped $5000 shy of reserve. Waterhouse Island is being sold via an expressions of interest campaign.  

So how does one come to place a price on such an rare property?

“Look [it’s] really difficult and I certainly don’t profess to be an expert in island valuations,” Mr Manton said.

“I don’t think really anybody is, but if you look at the very little sale evidence that there is and compare sizes, geography, topography and things like that, then this seems to be pretty reasonably pitched.”

The vendors are four friends who purchased the island 45 years ago after seeing an ad in a local paper’s classified section.

Over the years, Mr Manton said, they have used the island for several purposes, including grazing for sheep and deer.

In recent times the island has been more of a holiday retreat for the friends and their families. 

Mr Manton said it had been a difficult decision for the vendors to put it up for sale.

“They have absolutely loved it and having it as a retreat to come to, but they have decided it is time,” he said. 

Along with a large expanse of “true serenity”, the island comes with a three bedroom colonial house with open-plan kitchen and shed.

There is also another guest house that sleeps four people 100 metres from the main house.

Both dwellings have solar panels, rainwater catchments, flushing toilets and phone lines. 

A large shearing shed also pays homage to the island’s grazing past. 

Avid golfers take note, the island is just a short boat ride – or a ten minute charter flight if that’s how you roll – to the world famous Barnbougle golf course. 

The island was listed last Thursday, but Mr Manton said he had already had several inquiries, including a call from a man sailing his super yacht in the Greek islands.