Mr Cameron was speaking at a function at the station on Saturday night, celebrating 100 years of Cameron family ownership.
Otematata Station's lease was purchased in 1908 by Hugh Cameron's grandfather, Walter, and his brother, Joe. After Joe's death, Walter purchased his share and took sole charge.
Walter and Hugh's father, also named Joe, farmed in partnership from 1953 to 1956, when Otematata Station Ltd was formed. It is still the vehicle for ownership.
Hugh Cameron said his father's legacy was the network of roads and the miles of post-and-waratah fencing erected during his management.
It was also during that time that the greatest improvement in stock and wool quality occurred.
Advances in animal health, an easing of the rabbit problem and increased subdivision all played their part.
Hugh Cameron assumed responsibility of management after his father's death in 1988. While providing challenges, it had been rewarding, he said.
Rabbits had always been Otematata's greatest threat, although diligence, technology and an effective rabbiter meant the station had experienced prolonged low pest numbers.
Looking to the future, Mr Cameron said there would certainly be changes. Land previously thought of as only useful for pastoral purposes was now eagerly sought for recreational purposes.
"Our population is becoming predominantly urban-based and outwardly mobile, with fewer having contacts with rural New Zealand. Pressure for access to these lands is mounting,'' he said.
The partnership between the Crown and land-holder in the Land Act of 1948 was an inspired concept, resulting in crown pastoral leases, which resulted in major gains being made in soil conservation and restoration of lands ravaged by rabbits and overgrazing.
It provided a security of tenure, enabling confidence to invest on properties in a sustainable manner.
The intent of the Crown to include amenity values in rental calculation when the lessee had no rights to utilise these perceived advantages seemed absurd, Mr Cameron said.
With the Department of Conservation becoming a major stakeholder in the high country, there needed to be a recognition that land needed to be actively managed, particularly with regard to invasive plants and pests, if it was to be enjoyed by future generations.
Mr Cameron believed production and conservation could coexist.
It provided no joy to say after 100 years of occupation - a good deal of it under a crown pastoral lease - the relationship between the Crown and lessee had probably never been worse, he said.
Otematata and Aviemore - also owned by the Cameron family - were fast becoming surrounded by the Oteake Conservation Park.
That might provide challenges as well as opportunities should tenure review be pursued in the future, he said.