Roy Medich buys historic Berrima farm from tech investor Peter Crown for $50m

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It was planned to be a quick exit from the area by Hume Coal’s parent company, Korean steel giant POSCO, coming within weeks of a decision by the state’s Independent Planning Commission to reject a proposed $533 million underground coal mine.

Tech investor Peter Crown has resold a large portion of the Hume Coal aggregation for about $50 million.

Tech investor Peter Crown has resold a large portion of the Hume Coal aggregation for about $50 million.Credit:LinkedIn

The controversial mine had long polarised the Southern Highlands community before it was rejected in August on the grounds that the impacts “cannot be reasonably and satisfactorily avoided, mitigated and managed”.

It remains unknown how much Hume Coal pocketed for the total proposed mine site – which stretches from Berrima to Moss Vale, Medway and Sutton Forest – because settlement records on the remaining 800 hectares are yet to be formalised. But it was widely tipped to have sold for close to $100 million, including 1970 megalitres worth of water licences.

Ray White’s Kim Watts was gagged by confidentiality orders from commenting on the sale, but local agent Angus Campbell-Jones said the initial $100 million sale was “a great vote of confidence in the Southern Highlands market”.

“It was a bold and brave move by Peter Crown, but it’s certainly paid off for him now,” Campbell-Jones said.

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Crown is a Burradoo local and best known as a co-founder of the social impact start-up Ouno, and for his private investment company Resilient Investment, which targets emerging technologies.

Rich Lister Roy Medich and his brother, convicted murderer Ron Medich, are the sons of film producer and investor Peter Medich, who with his brother Lubo was regarded in the 1970s as a business pioneer in Sydney’s south-western suburbs.

The Medich Family Office is based in the Bondi Beach building purchased from James Packer for $29 million in 2018, and the family’s investments include Hunter Valley agriculture interests, pubs and the abandoned Tooth & Co brewery site in the Southern Highlands known as Mittagong Maltings.

Given no comment from the Medich family, it remains unknown what their plans are for Mereworth.



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