Northern Territory freehold properties Rocktear Park and Come By Chance have been sold for $12 million, as timber investors continue to chase good cleared country.
The Australian Financial Review reports there is no sign of the NT Government lifting its moratorium on land clearing in the fertile Douglas Daly region, which is thus influencing the values of already cleared country.
AFR says Willmott Forests bought the 5500-hectare Rocktear Park for more than $5.5m, with the land to be managed by African Mahogany Australia.
Another unnamed forestry company took the 5000ha Come By Chance for around $6m.
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