• Australia's largest state hits record-high COVID-19 cases despite weeks of strict lockdown. 'It's a tinderbox ready to explode,' one official said.
• eToro says crypto made up 73% of trading commissions in the last quarter, as retail customers dived in
• A flight attendant says she was too exhausted to report a passenger who shoved her when a flight was overbooked: report
• US jobless claims climb for first time in 5 weeks, to 353,000

A TROPICAL ISLAND resort with a 16-room hotel, dive centre, and private beach is up for sale and individuals can purchase it for as little as €43 ($49).

Located on the Micronesian island of Kosrae in the western Pacific,Kosrae Nautilus Resort is being sold by its owners through an online lottery, which requires entrants to buy tickets at €43 ($49) apiece for a chance to win,Travel + Leisure reports.

As well as hotel accommodation, the resort comes with a four-bedroom home, two apartments for guests, and a 32-foot-long fresh water pool.

The winner will also get access to $10,000 (€8,753) in the business bank account, a restaurant with $5,000 (€4,376) worth of food supplies, five rental cars, two dive boats, two vans, and a pick-up truck. 16 staff members are employed there as well.

There’s a big catch, though: The owners will only hand over the resort if they sell 50,000 tickets or more. If fewer than 50,000 tickets are purchased, the resort won’t be up for grabs, but the winner will still receive half of the ticket proceeds, according to Travel + Leisure.

Sunny River / Screengrab Sunny River / Screengrab / Screengrab

The resort owners, Doug and Sally, who have been running Kosrae Nautilus Resort for the last 21 years, are selling it to move closer to their grandchildren.

“We’ve had our time in the sun and enjoyed a career most people would never even dare dream about, but our current goal now is to become professional grandparents,” Doug explains on the contest website. “We feel like a new chapter in our lives is beginning, and we’re ready to pass the baton to someone else.”

Entrants can buy tickets in “packages” of one, three, five, and 10, which come with the same number of images taken underwater by the photographer Matt Shepherd. Of course, the more tickets you buy, the greater chance you have of winning the property.

The winning ticket number will be selected at the resort using the random number serviceRandom.org on 26 July and announced via YouTube or Facebook Live (this will be decided nearer the time), and published on the competition website.

Written by Chloe Pantazi

Read: This Tipperary retail park is on the market for €2.6 million

Read: London’s 80-storey wooden skyscraper could solve a major architectural problem