I would imagine it would be very tempting for landowners, possibly struggling to pay rates on unproductive blocks, to simply sell the land off to the highest bidder for developement etc.
Fortunately, owner of the 2 QE11 blocks that I have a little knowledge of have been more forward thinking at not "self serving/double dipping " etc.
One block I know of could have fetched millions. The owner instead set it up as a dedicated Kiwi sanctuary, and fund raises in earnest to keep it as such. He does allow pig hunters in, so long as all dogs are Kiwi averted.
The other block belongs or did belong to one of the first families that settled and farmed up this way. They spent generations clearing the land through bloody hard work.
Some of this land proved un-productive but they obviously still had to pay rates on it. This family used a QE11 covenant to protect the land in perpetuity and in effect gave it to the people of NZ. Again, they could have sold up and made a fortune.
Instead, this particular block now provides acces to a rather nice beach which is probably one of the most visited spots on the NI and draws visitors from around the globe, who otherwise would only be able to see it from a boat. Cathedral Cove is its name.
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