BHP's Caroona mine site prime agricultural land

PRIME LAND: Farmers will be keeping their eyes peeled for a 'for sale' sign.

PRIME LAND: Farmers will be keeping their eyes peeled for a 'for sale' sign.

WITH Caroona’s coal mine now off the table, people are wondering what will happen to the 4000-hectare site.

Owners BHP Billition have indicated no decision has been made regarding the site’s sale, but as a mining, metals and resource company, it would seem in the company’s best interest to sell the stranded asset.

Ruralco Property real estate agent Daniel McCulloch said the “some of the best country in Australia” was located within the site’s 4000 hectares.

“I’m sure some of the families around the site are looking to expand and become bigger enterprises,” he said.

“There will be a lot of anxious people around the area.”

Mr McCulloch said it would be interesting to see if BHP marketed individual parcels, or tried to sell them in aggregation and target a larger corporate buyer.

He was hesitant to estimate the land’s value, but said it would fetch a good price because of high commodity prices, the low number of properties on the market and low interest rates.

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