New owner of Rushy Lagoon outlines plans for pine, cattle and tourism

The new owners of Rushy Lagoon, Tasmania's largest farm, have outlined their plans for the property, which include a significant expansion of pine plantations. Gresham House, Britain's largest forestry investor, recently received approval from federal Treasurer Jim Chalmers to acquire the iconic property, despite considerable public and political opposition.

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I think the land use is what concerns people the most.

Over the next five years, Gresham plans to plant approximately 12 million radiata pine seedlings across 9,000 hectares. These trees are expected to mature in about 30 years, after which the timber will be milled locally for the building industry. The project also includes 1,000 hectares dedicated to environmental plantings, with the Clean Energy Finance Corporation investing $69 million into the initiative.

Despite concerns from local farmers about the suitability of Rushy Lagoon for plantation timber, Gresham's Tasmanian asset manager, Jono Craven, expressed confidence. He cited the farm's 700 millimeters of annual rainfall and existing pine growth in the region as indicators of successful cultivation. Craven emphasized that the land use is a "good, sustainable, climate-positive use for the property."

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The property is in need of reinvestment and it's a good, sustainable, climate-positive use for the property. So I think they're significant positives and I think the community will see in time that it will be a great outcome.

The acquisition has sparked controversy, with the Tasmanian government urging the prime minister to intervene. Critics have questioned the viability of the projected 190 jobs, which would include contract planting, management, pest control, and services for building renovations. However, Gresham House plans to maintain the farm's long history of livestock production by continuing the existing 3,000-head beef herd operation.

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All the modelling predicts good growth out of all of that. We already see pines in the landscape in the north east, so we know that they grow here. There will be no problems growing them on Rushy.