Kangaroo Island crayfish farm sold to Chinese investors

The investment arm of Chinese government-backed miner, Shandong Geo-mineral, has snapped up the 289 hectare Andermel Marron Farm on Kangaroo Island for more than $1.6 million.

Australian marron, a native of south west of Western Australia, is the largest commercially-grown fresh water crayfish.

Established in 1997 by John Melbourne, Andermel includes numerous ponds for breeding and growing marron for domestic markets as well as an eight hectare boutique vineyard and cellar door selling wines under the Two Wheeler Creek label, and the Marron Café.

The sale of Andermel to Shandong Geo-mineral International Investment Co Ltd was brokered by Colliers International’s Jesse Manuel and Tim Altschwager.

ShanDong Geo-Mineral, listed on the Shenzen Stock Exchange, engages in mining, overseas investment and asset management.

Mr Manuel said the heads of agreement for the sale was signed during South Australian Premier Jay Weatherill’s Trade Mission to China in May 2015 and has now settled after an extensive due diligence period.

“The purchaser has been a regular attendee at the Shandong-Australia Investment and Trade Promotion Forum organised by the South Australian government and it is excellent to see a significant deal finalised as a result of this initiative,” he said.

“We have seen a rapid increase in enquiry in the demand for agriculture and tourism assets on Kangaroo Island,” he added.

Kangaroo Island, just off the mainland of South Australia, south west of Adelaide, will benefit from $171 million of projects approved or planned over the next few years including a new airport runway that will allow direct flights from Sydney and Melbourne.

Read more: http://www.afr.com/real-estate/chinas-shandong-geomineral-buys-kangaroo-island-crayfish-farm-20160519-goz718#ixzz4uvTPegPa

8 Comments Add yours

  1. Arthur white says:

    How can we stop this happing

    Like

  2. Graeme says:

    Slowly ( but surely ) Australia is being taken over commercially by foreign interests who will wait years to achieve dominance

    Like

  3. Nick Russell says:

    We can’t buy or invest in Chinese land and companies. Was this investment offered to Australian investors.

    Like

  4. Noel says:

    Yes and the people you voted into local councils, State Governments an Federal Government are the ones that are speaking, wheeling and dealing on your behalf. Remember you voted them into these positions.

    Like

  5. Noel says:

    Yes and the people you voted into local councils, State Governmrnts and Federal Government are the ones speaking, wheeling and dealing in your behalf. Remember you voted them into these positions.

    Like

  6. Liz Nicol says:

    Stop selling off Australia to foreign buyers. Encourage and assist local business instead of tying them up in red tape. This has to stop before we’ve sold everything from under our feet.

    Like

  7. Mike says:

    We can only stop the selling off of Australia by getting rid of the major political parties
    Get them out the Libs Lab and the silly Greens
    Vote for Cory and get new young blood who will put Australia 🇦🇺 and You first not themselves

    Like

  8. Bob says:

    My thoughts are we the most desperate country in the world NO ! we can feed
    Asia that’s on our door steps, we have the land water, that but over controlled by our so call leader on both sides get off your back sides if not for you “BUT YOUR SIBLING!” there got to live in our most blessed country on earth were we’re our diggers lost there life for a use not to be invaded. Waken up so called people of society. Are we a third world country any other country has there country at there heart, “ONLY 49% FOREIGN OWNER SHIP.” stand up the fair dinking Ozzie shap up or ship out.
    Proud to be a Australian

    Like

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