Deal: Delaware North has sold Heron Island Resort and Wilson Island to Aldesta Hotel (Australia) Pty Ltd and Saliance Global Holdings Co Ltd.

Value: Undisclosed

Area: M&A

Key players: The legal team advising Delaware North was led by Piper Alderman special counsel Jonathan Whybird (pictured).

Deal significance: Heron Island Resort is recognised as one of the world’s most pristine eco-tourism destinations located in a World Heritage-listed marine national park, while Wilson Island is one of eight vegetated coral cays in the Capricornia Cays National Park.

According to Delaware North legal counsel Cameron Burke, the sale involved complex negotiations between the parties and various government departments.

“The sale of Heron Island Resort and Wilson Island Resort was a significant transaction for Delaware North,” he said.

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“We were very pleased with how Jonathan and Piper Alderman assisted us in navigating the myriad of complex legal issues associated with the divestment of such an iconic asset.”

Mr Whybird said Piper Alderman is delighted to have assisted Delaware North in this transaction.

“Heron Island Resort is an iconic Queensland asset,” he said.

“We are expecting it will be the start of a significant wave of investment in Queensland tourism resorts and hotels in 2017.”