Sounds pine on market

CHLOE WINTER
Last updated 11:19 21/05/2014

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The cutting rights to a 28-year-old forest on Arapawa Island in the Marlborough Sounds has attracted the attention of international and domestic buyers after going on sale in early May.

LJ Hooker rural sales agent Warwick Searle said it was uncommon for a mature forest in the Sounds to go on the market.

The last one was a block of land in Tumbledown Bay in November, which was bought by an Indian company, Searle said.

Half a dozen interested parties had already been to look at the 151 hectares of pine trees.

"We've had some New Zealand interest and a few offshore."

Searle said he anticipated further interest from offshore buyers.

The forest was mature and ready to harvest, he said.

"The big attraction is you don't have to buy the land."

The land was owned by about 20 people in a partnership who were ready to move on .

The cutting rights would be sold by tender and expected to be a $2 million deal, Searle said.

The island had metal roading, skid sites, and the capacity for up to 1500 tonne close to the sheltered barge point, he said.

chloe.winter@mex.co.nz

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