Billionaire Fung son lists another property from wellness portfolio

42 Luff St Hull Heads

The billionaire Fung family have listed two Far North Queensland properties that were part of their wellness endeavours for sale.

Publicly available property records show that both 42 Luff St, Hull Heads, and 390 Woopen Creek Rd, Woopen Creek, are on the market with Champions in Real Estate Cairns agent David Galloway-Penney.

Both were purchased by PT Beresford Pty Ltd, which lists Jason Fung, son of Hong Kong tycoon Tony Fung, as its director.

Asian billionaire and horse racing owner Tony Fung pics supplied, pls mark attention Ben Dorries

Kaswari Casita at Hull Heads and the Broken Nose Vanilla farm at Woopen Creek were two of five properties under the Fung’s Kaswari wellness retreat portfolio.

Kaswari Casita was purchased for $650,000 in December 23 and boasts 16m of absolute beach frontage.

Renovated, it has three bedrooms, two bathrooms, and sits on a 647sq m block.

It is listed for offers over $899,000.

It is understood that Jason Fung had intended to use the house as a high end Airbnb but those plans have been shelved.

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42 Luff St Hull Heads

The Woopen Creek farm was snapped up for $850,000 in February 2023 and was listed in November last year.

390 Woopen Creek Road, Woopen Creek

It boasts a three bedroom home on a 5.02ha block and is on the market for offers over $849,000.

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390 Woopen Creek Road, Woopen Creek

It would appear that Kaswari Coorumba, The Clubhouse and Spearmint House remain in the Kaswari wellness portfolio.

Tony Fung shot to prominence in 2015 with plans to deliver the $8.15 billion Aquis Great Barrier Reef Resort at Yorkeys Knob.

Plans for the super resort included an international casino, nine luxury hotels with 3750 rooms, 1200 apartments, 135 villas, 13,500sq m of high-end retail shopping and an aquarium.

A supplied artist’s impression of the proposed Aquis Great Barrier Reef Resort from 2013.

Last year the Cairns Post reported that despite spending tens of millions of dollars, including an attempted takeover of the Reef Hotel Casino in Cairns, the Fung family’s dream ended in 2016 after failing to secure a casino license.

Tony Fung then bought the Canberra casino and retreated to the Gold Coast to invest more millions in property and horseracing, and Aquis Great Barrier Reef was quietly shelved.

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