Gunns properties raise overseas interest
Prospective buyers range from Australian pension funds, high net-worth individual investors and overseas-based pension funds.
A price tag of about $50 million was suggested for the 94 forestry products in the portfolio.
The Tasmanian assets are being sold by CBRE Agribusiness on behalf of Peter Anderson and Shaun Fraser of McGrathNicol as "Joint and Several" receivers and managers of the Australian Forestry Plantations Trust (AFPT) and the Australian Forestry Plantations Trust Number 2 (AFPT 2).
Gunns, based in Tasmania, was placed into voluntary administration in September 2012 after an ANZ-backed syndicate withdrew support for the forestry group's recapitalisation.
This included the group's long-running attempt to obtain approvals for a timber pulp mill at Bell Bay, at a cost of about $2.3 billion.
David Smith, CBRE's head of timberland transactions, said the sale campaign had already generated wide-ranging preliminary interest. The two portfolios were being offered for sale in one line or separately, he said.
They comprise 94 properties with a total of about 11,757 hectares of hardwood plantation across an area of 21,777 hectares.
The portfolios also include 17 residential houses as well as an extensive road network.
"We have already fielded inquiries from domestic pension funds and institutions, local farmers, high net-worth investors, offshore institutions and even an international pulp mill owner interested in future fibre security," Mr Smith said in a statement.
There also had been interest from people considering the managed conversion of the land back to various forms of agriculture.
Frequently Asked Questions about this Article…
The Gunns estate, specifically the AFPT and AFPT 2 timberland portfolios, is attracting global interest due to its extensive hardwood plantations and additional assets like residential houses and a road network. These properties are appealing to a range of investors, including Australian and overseas pension funds, high net-worth individuals, and international pulp mill owners.
The sale of the Gunns properties is being managed by CBRE Agribusiness on behalf of Peter Anderson and Shaun Fraser of McGrathNicol, who are acting as 'Joint and Several' receivers and managers of the Australian Forestry Plantations Trust (AFPT) and the Australian Forestry Plantations Trust Number 2 (AFPT 2).
The estimated value of the Gunns timberland portfolios is around $50 million. This valuation includes 94 forestry products spread across approximately 11,757 hectares of hardwood plantation.
The Gunns properties have attracted interest from a diverse group of investors, including domestic pension funds, local farmers, high net-worth individuals, offshore institutions, and even an international pulp mill owner interested in securing future fibre supply.
Gunns, based in Tasmania, was placed into voluntary administration in September 2012 after an ANZ-backed syndicate withdrew support for the company's recapitalisation efforts. This included a costly attempt to gain approvals for a timber pulp mill at Bell Bay.
The key features of the Gunns timberland portfolios include 94 properties with a total of about 11,757 hectares of hardwood plantation, 17 residential houses, and an extensive road network. These assets are being offered for sale either in one line or separately.
The sale of the Gunns properties is being conducted through a campaign managed by CBRE Agribusiness. The properties are available for purchase either as a single portfolio or separately, and the campaign has already generated significant preliminary interest.
International investors are interested in the Gunns properties due to the potential for future fibre security and the opportunity to convert the land back to various forms of agriculture. The extensive hardwood plantations and additional assets make it an attractive investment opportunity.
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