Mt Hotham

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A block of leasehold land in the Victorian ski resort of Mt Hotham sold on Easter Saturday at a no-reserve auction for just $14,000.
Another leasehold block sold at $18,000, the cheapest sales on the mountain in 35 years.
The two properties were the last holdings in Venture Technologies Corporation's Mount Hotham property portfolio.
Venture Technologies executive Ron Bassett invested more than $50 million in Mt Hotham and nearby ski field, Falls Creek in the 1990s.
Agent John Castran said the sales were the cheapest on the mountain in 35 years.
They were both on 40 year leases.
The two properties were the last holdings in Venture Technologies Corporation's Mount Hotham property portfolio.
"I was astounded at how low the properties sold for," Mr Castran told the Australian Financial Review.
The buyers are residents who want to develop the land into cabins for the great views at <a href="https://www.castran.com.au/buying/VIC/North-Eastern/Mount-Hotham/Land/1P0609" target="_blank">Higgi Drive, Mount Hotham</a>.
One was 11 sqm the other 288 sqm. 
John Castran, managing director of Castran Real Estate, which sells properties around Victoria’s alpine towns, had previously advised he though prices had bottomed out in 2013.
Construction on a $4.4 million investment into further snowmaking infrastructure was scheduled to be completed in time for the 2016 snow season.
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Mt Hotham's $14,000 land sale

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Rino Grollo, the owner of Victoria's Mt Buller ski resort, has purchased his first two lots at rival, Mt Hotham.
Mr Grollo, who with his wife Diana co-owns development company Grollo Group, paid $360,000 for two contiguous lots covering 1100 square metres.
They were bought last week in an auction of 21 sites by UK theme park operator Merlin Entertainments.
The two lots come with the potential for up to eight apartments on each block.
Fairfax Media reported it was "a bit of an impulse thing."
The auction secured the sale 17 of the 21 sites, a mixture of freehold and leasehold through John Castran. Prices ranged from $170,000.
The lots are on a former state government site known as the Hotham Chalet, which was first owned by the then Victorian Government Railways.
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Merlin, the world's second biggest entertainment group behind Disney, anticipated $3 million from selling the sites it acquired when it bought the site from James Packer's private company Arctic.
Arctic had bought it from NAB after the Gold Coast financier MFS went into liquidation in 2008.
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Mt Hotham

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