Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Council Land Fails to Sell; Properties Bought for $3M for Abandoned Bio-Reactor Attract One Bid

Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Council Land Fails to Sell; Properties Bought for $3M for Abandoned Bio-Reactor Attract One Bid

Article excerpt

Byline: Bill Hoffman

TWO blocks of land purchased by the council for nearly $3 million for a now abandoned bio-reactor project failed to find buyers at auction on the weekend.

The smaller of two parcels, a 2ha block on Kocho Rd at Nambour, which council paid around $330,000 for, attracted only one bid of $80,000 and was passed in.

The other property, the former lychee farm of the late Andy Flower which council bought for $2.49 million, failed to draw any interest at an auction at Buderim Ginger Factory in Yandina.

Marketing agent Peter Flint, of Elders Nambour, said that despite receiving no bids on Saturday he had since been given written conditional offers for the 30.5ha property.

Mr Flint said he remained hopeful both properties would sell but acknowledged the lychee farm would be harder to shift.

Re-establishing it as an income-producing farm would require considerable investment.

Mr Flint said there was profit in produce but farmers needed the ability to identify niche markets and then be capable of bringing it on out of season when prices were high due to limited demand. …

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