$60 million job lot as Hume Coal sells up massive holdings


news, latest-news,

Hume Coal says it wants a quick sale for a suite of properties described as the largest landholding in the Southern Highlands. The company, owned by Korean steelmaker POSCO, is selling the 1308 ha of land it acquired in the hope of building a coal mine under the farm-rich village of Sutton Forest. The mine was finally rejected early this month as the state’s Independent Planning Commission found Hume Coal’s plans did not adequately balance the environmental, social and economic impacts, ending a long battle for residents opposed to the mine. Read more: Controversial coal mine rejected Expressions of interest are being handled by Forbes-based Ray White agent Kim Watts, with a price of at least $60 million being talked about for the nine properties, which include the stately Mereworth House. It is understood the would-be miner is not willing to entertain selling the properties separately. The landholding, which is mostly agricultural and stretches from Medway to Berrimah, Sutton Forest and Moss Vale, includes 1,870ML of water licences. The Illawarra Mercury news app is now live on iOS and Android devices. It is available for download in the Apple Store and Google Play.



Source link