About 21,000 hectares of land in all parts of Tasmania has been put up for sale on behalf of failed timber company Gunns. Sources: ABC Rural, Fairfax Media
David Smith from CBRE, Head of Timberlands Transactions is handling the sale of the 94 properties, which will be sold in two portfolios.
Smith said there has been strong early interest in the plantations, some coming from people who want to use the land for agriculture.
He said the land in question is generally in good condition, with suitable rainfall, and would be very good farmland.
Interest has also come from overseas and Smith is expecting expressions of interest to be put in place by the end of next month.
Prospective buyers range from Australian pension funds, high net-worth individual investors and overseas-based pension funds.
The two portfolios offered for sale in one line or separately comprise 94 properties with a total of about 11,757 hectares of hardwood plantation across an area of 21,777 hectares.
The portfolios also include 17 residential houses as well as an extensive road network.
“We have already fielded inquiries from domestic pension funds and institutions, local farmers, high net-worth investors, offshore institutions and even an international pulp mill owner interested in future fibre security,” Smith said in a statement.
The plantations are expected to attract bids of anywhere between $50 million and $90 million.
