Red light for dam a green light to buyers

QUEENSLAND has sold off more than $70 million worth of Mary Valley properties in the wake of the botched Traveston Dam project.

Mark and Pauline Beaumont (Beautanica

THE Queensland government has sold off more than $70 million worth of rural properties across the rolling hills of the Mary Valley, clawing back some of the taxpayer losses from the botched Traveston Dam project.

Almost half the 480 properties in the southeast Queensland pocket previously owned by the government have now been ­resold, with a further 51 under contract.

Queensland’s Beattie and Bligh Labor governments spent $442m on land across the southeast Queensland valley — 150km north of Brisbane and 40km west of Noosa — during planning for the politically unpopular Traveston dam during a severe drought in the state’s southeast.

But in 2009, then federal environment minister Peter Garrett scotched the $1.8 billion plan on environmental grounds, leaving the government holding 13,000ha of land.

The Newman government, when it won office in 2012, was the owner of 68 cattle properties, six shops, five school camps, 20 dairy farms, almost 400 other rural properties and 60 water licences in the Mary Valley.

Most properties were vacant and starting to crumble, while others were tied up with inexpensive leases. The government wanted out, but did not want to flood the market with properties. To that end, it devised the Mary Valley Economic Development Strategy.

“Regardless of whether a long-term retention or a divestment approach is taken, ownership of this land by the government without clear purpose and intent will continue to impact on community stability in the Mary Valley,” a statement from the strategy said.

“The status quo represents an expensive option and one that is hindering economic development rather than fostering it.”

Since 2012, there have been 11 tranches of sales, with another due next week. And interest is picking up. Departmental figures show the average expression of interest in each property at the last inspection weekend was $277,000 — about 10 per cent more than the average list price.

One property received a record 14 expressions of interest, and another two had 10 bids.

Among the new residents of the Mary Valley are seed producers Mark and Pauline Beaumont, who were attracted to the area for its rolling hills and good soil, to ­accommodate their 400 seed ­varieties.

Previously based on a 0.4ha property near Helidon, outside Toowoomba west of Brisbane, their business, Beautanicals, needed a bigger place to accommodate their 30 per cent year-on-year growth.

They found it, with a 3.6ha plot near the small town of Federal.

“It’s bloody wonderful,” Mr Beaumont said.

“It’s a gorgeous area. We’re here to stay, without a doubt.

“There is room for the business to grow to about five times its size.”

He said he and Pauline were happy with the $270,000 price they paid — estimating it was probably up to $40,000 less than they would have paid commercially.

The state government expects the divestment program in the Mary Valley to be complete by the end of the year.