Canelands $6.5m sale

A CHINESE investor has outlaid a sweet $6.5 million to buy a slab of canefield land at Norwell.

Jian Ju Li, via company Muyao Investment, has picked up 38ha that reportedly has a hidden asset: it’s apparently home to two million tonnes of sand.

The sellers, long-term cane farmers Greg and Lynette Drescher, must be chuffed over the sale: the land was marketed at $2.9 million in 2005.