Australia blocks sale of giant property portfolio

Posted by Simon Dehne on November 23, 2015 in Latest News with No Comments

eight_col_000_Hkg10231955S Kidman & Co has pastoral leases in several states that together cover about 101,000 square kilometres – an area roughly the size of the North Island excluding Northland.
Two Chinese companies, Genius Link Group and Shanghai Pengxin, were reportedly engaged in a $A350m ($NZ384m) bidding war over the holdings.
Selling the company would be against the national interest, Australian Treasurer Scott Morrison said.
Part of the property portfolio is inside the Woomera Prohibited Area (WPA), a military weapons testing range in South Australia.
“The WPA weapons testing range makes a unique and sensitive contribution to Australia’s national defence and it is not unusual for governments to restrict access to sensitive areas on national security grounds,” Mr Morrison said.

Read more.

« previous post

7 reasons to believe Australia...

BIRLING GAP, UNITED KINGDOM - MARCH 19:  Work begins today to demolish the end terrace cottage at Birling Gap on March 19, 2014 near Eastbourne, United Kingdom. The ex-coastguard cottage was in danger of collapsing after cliff erosion and was once one of seven properties, two of which were already demolished in the last two decades. The council said the next cottage in line would only have up to ten years before it too succumbs to the erosion. (Photo by Mike Hewitt/Getty Images) Is Australia’s property market really a precarious house of cards waiting to topple?...

next post »

This state has more suburbs wh....

western_australiaWestern Australia has more suburbs in the top ten list of buyer’s markets close to the C...

Leave a Reply

No trackbacks yet.

No post with similar tags yet.

Posts in similar categories

QUICK START Compare Home Loans

I am looking to buy a ...
I need to get a loan for ...
The type of interest rate I require is ...
My timeframe to buy or refinance is ...
Compare Investment Mortgages

Interest Rates in Australia

RBA Cash Rate:


Next RBA meeting:


Last months RBA Decision

- 0.00

RBA Rate Change last 12 mths:


Current & Past News Updates