State confiscation of private wealth. That's all it is. Appalling.
The Government's rejection of the Lochinver sale causes some issues, not the least being what happens to the station now.
It is owned by the Stevenson Group which wanted to complete the sale to free up capital to reinvest in other businesses such as expanding its quarry in Drury and investing in a West Coast coal mine.
It is unlikely a New Zealand buyer with $88 million can be found, reducing the value of the property on the open market.