- muppetMember@muppetJoin Date: 2003Post Count: 900
Interesting comment from one of Carter Holt Harvey’s execs when they announced their half yearly result seeing how they are a major employer of people living in Tokoroa:The chief executive of the forests division, Jeremy Fleming, revealed that 36,000ha of land, mainly in the Kinleith estate, had been identified as suitable for alternative uses.
But it’s a long-term game. Land becomes available as trees are harvested and Fleming’s presentation indicated the programme could run until 2023.
He said about 80 per cent – or 28,800ha – was suitable for conversion to dairy farming.
The company says sales for dairy conversions over the past five years averaged a price of $7500 a hectare – and conversions now could be worth $8000 to $10,000 a hectare.
That suggests 28,800ha could be worth $216 million to $288 million.
The company said land suitable for lifestyle conversions could be worth more: $10,000 to $25,000 a hectare.
That sent analysts back to their calculators, to crunch more numbers, although one asked aloud: “What’s the lifestyle around Kinleith and Tokoroa?”
Is this good news or bad news for Tokoroa in the long term?
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