Cobbora auction raises $6.3M

More planned for 2017.

More planned for 2017.

Another 6,868 hectares of land at the defunct Cobbora coal mine have been sold for $6.3 million. The Cobbora Holding Company Pty Limited (CHC) said the land was sold during the fourth round of auctions in Dunedoo on Thursday, July 6.

CHC said it built on the success of previous auctions. All 19 properties sold on the day.

Around 26,659 hectares of agricultural and lifestyle landholdings have been sold in the auctions and raised more than $47 million for the NSW Government.

The land was originally bought by the then Labor Government as part of the Cobbora coal mine project, which was later scrapped.

CHC chief executive officer Richard Outridge said the four rounds of auctions generated a great deal of interest from bidders keen to acquire the excellent properties on offer. Further auctions are planned for 2017.