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Iceland Mag

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Icelandic state preempts private investors, buys Jökulsárlón glacial lagoon

By Staff

  • At Jökulsárlón Conservationists feared that if the lagoon was owned by private investors its character would be threatened. Photo/Valli.

The Icelandic state has bought the farm Fell in the Suðursveit district, south of Vatnajökullg glacier. According to an announcement from the Ministry of Finance the state has purchased the land in accordance with the law on Natural Conservation. The eastern part of Jökulsárlón glacial lagoon, one of the most popular tourist destinations in Iceland is located within the property. The current visitor center and parking lots are also located on the land of Fell.

Read more: Want to buy Jökulsárlón glacial lagoon? You could have your chance, as it's to be put up for auction on April 14

The land has been up for sale for some time, and was finally sold at auction in November. The buyer, an investment company Fögrusalir, which in turn is operated by Thule Investments, had the highest bid, 1,520 million ISK (13.35 million USD/12.65 million EUR). The state has now decided it will excercise its right to preemption, buying the land at the same price as the highest bidder.

Read more: British billionaire buys vast farm in the highlands. Intends to do “absolutely nothing” with it

Another natural monument in South Iceland went on sale recently, the Fjaðrárgljúfur canyon. In December a British billionaire also acquired a large section of the Central Highlands, when he purchased one of Iceland's largest and most pictoresque farms, Grímsstaðir á Fjöllum.

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