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Southern Rural Water is holding an online auction of deep groundwater from an aquifer that extends from Boneo on the Mornington Peninsula to Queenscliff on the Bellarine Peninsula.

Project Manager Terry Flynn said that recent sustainability studies of the aquifer have shown that a limited amount of water can be taken and used without adverse impact.

“Southern Rural Water is trialling the online auction as a means of allocating this new water fairly, in a way that places a value on its potential,” he said.

“The water is warm and mineral rich, which makes it particularly suitable for heating and geothermal spas.

“We believe its natural characteristics will be attractive to investors in the health and resort industries.”

To be eligible to bid, buyers need to first apply. Applications for the auction open on 9am Monday 18 April and close 4pm Friday 13 May 2016, with application information available here.

Any funds from the auction will go towards projects to further improve groundwater management.

More information is also available by phoning 1300 139 510.

ENDS.

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