According to reports from ABC News and the Tasmanian Country newspaper, the new owner of the Rushy Lagoon property in the state’s North-East has detailed its future plans for the vast holding. The Tasmania Natural Asset Trust (TNAT), managed by UK forestry giant Gresham House, purchased the 22,000-hectare property in a deal worth over $140 million, approved by the Federal Treasurer last week. The purchase was made in partnership with the Australian Government’s Clean Energy Finance Corporation (CEFC) and Aviva Investors.
Gresham House has confirmed that while a significant portion of the land will be converted to radiata pine plantation for the Australian construction industry, a beef cattle operation will be maintained and grown. The new owners stated that the land is best suited for sustainable forestry, which will replace forestry resources lost in the region in recent years. The farm’s long-term manager will continue to oversee a herd of around 3,100 Angus and Hereford cattle. The dairy operations, however, were closed in June ahead of the sale.
The sale has generated controversy and concern among farming groups about the loss of productive agricultural land. TasFarmers reported receiving numerous calls from people upset by the decision. In response to community concerns, the new owners have stated the project will combine commercial forestry on less productive land with conservation, ecological restoration, and sustainable grazing. They also project the creation of more than 190 new jobs over the project’s lifespan.
Looking ahead, the owners are also considering cropping and agri-tourism as part of the property’s portfolio. Public information sessions are scheduled for later in the month in Gladstone and Scottsdale for the community to learn more about the plans. Meanwhile, TasFarmers plans to hold a community meeting in Scottsdale this week to rally opposition to the deal.