Wee Jasper island sold for $700,000

An entire island with a price tag lower than Canberra’s median has sold.

Wade Island in Wee Jasper sold this week for $700,000, after two months on the market.

The 91-hectare island first came onto the market in March and went under the hammer at the beginning of May, where it failed to sell.

After the auction, a price guide of $600,000 to $650,000 was placed on the listing.

LJ Hooker Dickson agent Nic Salter-Harding, who initially listed the island, said the response was overwhelming when the price guide was revealed.

“After the auction, when the price went up publicly, there was a resurgence of interest in it and a lot of fresh faces,” he said.

“Prior to auction there were a lot of people thinking it was going to be out of their price range, and that was not the reality. We ended up with multiple offers.”

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Salter-Harding said the buyers, a couple, intend to keep the island all to themselves.

“The buyers aren’t planning to use the island for business purposes like most of the interested parties were, this is just for them,” he said.

“Initially, they are going to use it as a getaway to go camping but in the long term they are thinking of building a cabin or two, however, it will be a holiday site for them and their family.”

While most of the inquiries were genuine, Salter-Harding said there was one unusual offer.

“We got an offer for $1 from someone who wanted to turn the island into a Disneyland for adults, complete with autonomous drones,” he said.

“They were also going to set up their own cryptocurrency and create a principality.”