Visy sells Ettamogah mill land to Sharon AI for AUD 50m
Visy sold the land under its Ettamogah paper mill near Albury, New South Wales, to Australian-American neo-cloud computing company Sharon AI for AUD 50m, with the transfer of 302.37 hectares completed on 29 June 2026. Visy is understood to be leasing the site back to continue its current operations. Sharon AI has not said what it will build and had lodged no development application as of 16 September 2026; Visy paid AUD 85m for the combined land and assets in 2019, buying them from Norske Skog.
Why this mattersMonetising mill land to a data-centre buyer while leasing back the plant gives paper producers a capital release that leaves production capacity untouched.
- The sale of 302.37 hectares at Ettamogah, near Albury, NSW, completed on 29 June 2026 for AUD 50m, according to data lodged with property platform Cotality
- Visy is understood to be leasing the premises back from Sharon AI for its current operations on an ongoing basis
- Visy paid AUD 85m in 2019 for the combined land and assets, acquired from Norske Skog
- Sharon AI, based in Sydney and New York, has not disclosed its plans and had lodged no development application as of 16 September 2026
- Albury MP Justin Clancy has called for guarantees on electricity and water use, infrastructure costs and local jobs; a local petition against a data centre had 350 verified signatures on 16 September 2026