Coming Soon - Events and Hearings

<<  February 2012  >>
 Mo  Tu  We  Th  Fr  Sa  Su 
    1  2  3  4  5
  6  7  8  9101112
13141516171819
20212223242526
272829    
Queensland Government to lose $12m in sale of property resumed for aborted Traveston Dam PDF Print E-mail
THE biggest property under the State Government's aborted Traveston Dam project is set to hit the market despite an expected loss of up to $12 million.

Bollier Park, a prized 973ha cattle estate, was purchased by the Government for $25.3 million in 2007.

Property experts say it would fetch between $13-16 million in current conditions.

In November, The Courier-Mail revealed the value of the remaining 472 Mary Valley government-owned properties had slumped from $449.5 million to $225 million. The Office of the Coordinator-General, responsible for the long-term management and sale of the estates, is pushing on with a sell-off despite a poor start.

Only two properties have sold - at a combined loss of $253,000.

A spokesman for the Coordinator-General said a dozen - including Bollier Park - would go on the market in coming months.

by: Peter Hall From: The Courier-Mail January 16, 2012



Share this:
Reddit! Del.icio.us Google Bookmarks Facebook! StumbleUpon TwitThis