森林覆盖土地价值评估趋势.pdf

1、MARCH 2026Valuation of Land Under Forestry Evolution of Ownership of Forestry Land Estates Land Valuation Techniques Land Valuation Challenges2Confidential&Proprietary|2026 CBRE,Inc.Confidential&Proprietary|2026 CBRE,Inc.VALUATION&ADVISORY SERVICESA Brief History1870s South Australia-State-owned Sof

2、twood industry establishment self sufficiency.Victoria closely followed.1900-1950 State owned mainly native forest reserves on Crown Land viewed as important public infrastructure assets.Very limited private sector investment SAPFOR scheme in South Australia(1930s).1990s National Forest Policy State

3、ment triple national plantation estate by 2020.Sustainable production-reduce native forest logging.1950-1980s expansion of state-run plantations(mainly radiata);Federal govt loans to states via Softwood Forestry Agreements Act.Circa 25,000 hectares per annum expansion over some of this period.3Confi

4、dential&Proprietary|2026 CBRE,Inc.Confidential&Proprietary|2026 CBRE,Inc.VALUATION&ADVISORY SERVICESThe 1990sManaged Investment Schemes Corporatisation of State-owned commercial plantationsManaged Investment Schemes provided investment incentives of 100%up-front tax deductionsFocussed on short rotat

5、ion hardwood tree crops targeted productive land types in 600mm+rainfall zones.State Governments commenced corporatisation of commercial plantation estates.Victoria fully privatised late 1990s.More than 10 years before South Australia,Queensland and Tasmania would follow.4Confidential&Proprietary|20

6、26 CBRE,Inc.Confidential&Proprietary|2026 CBRE,Inc.VALUATION&ADVISORY SERVICESThe Shift to Global Institutional CapitalThe Global Financial Crisis led to the collapse of the MIS sector Timbercorp,Great Southern,FEA,Wilmotts,ITC,Gunns&others.Pension/Superannuation funds,Timberland Investment Manageme