Plans to subdivide a 400-hectare bushland property, once eyed for national park status, have sparked concern among local residents and environmental groups. Billionaire Phillip Dong Fang Lee intends to sell off individual lots on his property, known as Fame Cove, despite ongoing legal actions related to environmental breaches.
Hopes that a 400-hectare parcel of bushland would become national park could be dashed by plans to subdivide it.MidCoast Council is proposing to rezone the property from rural land to C2 Environment al Conservation.For almost 20 years, billionaire high-roller Phillip Dong Fang Lee has hatched grand plans for his private bushland property on the state’s Mid North Coast.
“Ultimately, this could result in up to 16 lots being offered for sale to any buyers as part of new housing opportunities in a very beautiful region,” said a spokesman for the Lee family. A subdivision application is expected to be lodged in the coming week. Complicating matters are orders recently handed down in the Land and Environment Court imposing a $200,000 bond and quarterly progress reports to restore the once pristine bushland through a program of remediation and stabilisation.
Lee and Shi paid $8.8 million for it in 2006 with no finance required. Ownership later transferred to the couple’s Tea Garden Farms Pty Ltd, of which Shi was made sole director in 2019. She remains the ultimate owner., of which the first was an almost $200,000 fine in 2009 after a dam wall failed during excavation.
But neighbour Len Yearsley, who heads up the Fame Cove sub-committee of the North Arm Cove Community Association, says the $200,000 bond and reporting requirements don’t go far enough given Lee’s deep pockets.
Real Estate SUBDIVISION NATIONAL PARK ENVIRONMENT LEGAL ACTION AUSTRALIA
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