Gresham House Bids for Tasmania's Biggest Farm

0:00From the Daily News Now Network, this is Sydney News Today. Australia's Foreign Investment Review Board is set to decide next week on a British firm's bid to buy Tasmania's biggest farm. Gresham House wants to purchase the 22,000 hectare, Russia lagoon property, from the Pi family, for more than $100 million. The land in the northeast runs thousands of beef and dairy cattle and supplies milk to Fontera. Gresham House manages nearly $7 billion in forestry assets in the UK and plans to expand here. They aim to plant large-scale trees on the farm, for timber, carbon projects, and biodiversity credits through Australia's nature repair market. The property size and 17 kilometers of vast straight frontage make it ideal for these new ventures. Locals are pushing back hard against the shift from farming to forestry. Beef farmer John Tucker, who neighbors the property, says you cannot eat pine trees and worries about losing food production potential.

1:00Dorset Council Mayor Reese Beatty, as there are no checks on converting prime-aglan, threatening food security. The farm has a rich history of big sales and investors. It once ran 55,000 sheep in 8,500 cows, changed hands for record prices like $10 million in 19, 86, and was listed for $70 million in recent years. It's also eyed for a massive wind farm with 210 turbines. Tasmania's farmland prices lead the nation, driven by stable climate, irrigation, and soils, plus growing demand for green investments. Farm groups like task farmers note economic ripple effects from any change but aren't fully opposed. Gresham House and officials have been contacted for more details as the decision looms. DNA is brought to you by our sponsor link in the description. Do not just fall asleep. Drift into what you are listening to, S-O-L-I-SoliPillo.com.