King Island Bluegum land will go back to pasture: Elders 10 Nov, 2011 04:36 PM Land formerly owned by Great Southern Plantations will go back to pasture, according to Elders Real Estate’s Colin Hopkins. Three properties bought by Great Southern in 2007 will be auctioned by Elders at the Aurora Ozone Hotel on Friday on behalf of Executor Trustees.
Mr Hopkins said the total 1400 hectares was likely to be returned to pasture by the new owners.
On all the three properties – Riverleas, Benney’s and Riggs’ – preparations have been made for bluegum planting but they have not been planted.
Riverleas and Benney’s have been re-fenced with vermin-proof fencing and Riggs’ is partly re-fenced. The land has also been ripped to a depth of 1m ready for planting.
“These properties are in the premier high rainfall area of the island and I, for one, will be very interested to see what effect the ripping will have. We suspect it will improve drainage,” Mr Hopkins said.
He said Great Southern had been a “price setter” when it bought the land and he expected it to attract bids at between $1700 and $1800 per potential pastured hectare.
“Forestry approvals have expired and it is highly likely this land will go back to pasture.
“We’ve had solid interest from locals and some interest from the mainland,” Mr Hopkins said.
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