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Mary River, Traveston project: Property bloodbath that cost Queensland $318m

by Ted Sorensen
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THE biggest property bloodbath in the state’s history – which has cost Queenslanders a staggering $318 million – is officially over. Almost a decade after the Federal Government blocked a controversial move to dam the Mary River, 150km north of Brisbane, The Courier-Mail can reveal the last lots acquired for the project have been sold. To make way for the proposed Traveston Crossing Dam, the then Beattie Government bought more than 500 properties, comprising 656 individual lots, for $520 million. Extraordinary losses suffered by the government included selling a property it bought for a whopping $25.3 million back to the […]