Investors chase land

BY JOHN EDENS IN ALEXANDRA

Last updated 05:00 02/02/2010

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Overseas investors continue to chase farmland in the Southern Lakes district for business opportunities.

The Wyuna Preserve Residents' Association has acquired 83ha of freehold land at Wyuna Station, Glenorchy.

The incorporated association, which is 60 per cent United States-owned and 40 per cent New Zealand-owned, intends to create a "small, secluded subdivision" to offset costs of developing the station.

The 83ha was access land within the subdivision development.

The land was transferred to the residents' association from a joint venture to ensure common ownership of subdivisions.

john.edens@stl.co.nz

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- © Fairfax NZ News

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