The Weekly Times’ 10th annual Who Own Australia’s Farms investigation reveals that some of the nation’s biggest landholders by value have invested heavily in the island state in recent years, amid strong global appetite for Australian rural property.

Among the major corporate players are Canada’s powerful pension funds, which now wield growing influence in Tasmania,

PSP Investments, Australia’s investor in farmland and water, operates several dairy farms in northern Tasmania under its Aurora Dairies banner, running 12,700 cows producing 65 million litres of milk. PSP also owns the Rina Berries operation through its Fresh Country Farms of Australia business.

Australia’s second-largest agricultural investor, Macquarie Agriculture, has a footprint in Tasmania too, operating berry and citrus farms via its Vitalharvest operations.

Other major institutional investors include the Ontario Teachers’ Pension Plan’s Auston Corporation — whose assets encompass Montague’s Tasmanian apple orchards — and investment giant GO. FARM, backed by fruit and vegetable king Robert Costa. GO. FARM owns 939 hectares near Launceston being converted into vineyards,

Additional large-scale investors include Prime Value Asset Management, Moon Lake Investments and Laguna Bay.

Prominent family operators also feature strongly. The Roberts-Thomson family’s TRT Pastoral empire spans 9712 hectares on King Island and 7082 hectares in northwest Tasmania, including part of the historic Woolnorth aggregation, purchased in 2021 for $120 million.

The Greenham family, known for meat processing and the famous Cape Grim beef brand, own one of Tasmania’ largest contiguous holdings, the 3368-hectare Westmore at Marrawah, which was listed for sale in 2024 with price expectations exceeding $70m.

Meet the families and institutions going head-to-head to secure Tasmania’s prime farming land in this, the most comprehensive list of farm ownership.

AAAW GROUP (AUSTRALIA AULONG AUNIU WANG) — CHINA

Founded in 2015 and headquartered in Sydney, AAAW Group is an independent division of Dashang Group – the largest retailer in northeast China.

Calthorpe Orchard, Sidmouth TAS – 94 hectares

Millers Orchard, Hillwood TAS – 30 hectares

AUSTON CORPORATION (ONTARIO TEACHERS’ PENSION PLAN) (CANADA)

The Australian agricultural arm of the Ontario Teachers’ Pension Plan has operated since 2018. Offers long-term capital to invest in and help grow innovative and agricultural businesses. In November 2023 purchased a major equity interest in Montague, which handles 18 per cent of Australia’s apple production and 15 per cent of stone fruit produce across orchards in Victoria, Tasmania and NSW.

Montague, VIC, TAS and NSW

CIRCULAR HEAD FARMS

Australian community-based agricultural investment fund founded by Tasmanian farmer Stephen Fisher in 2014, designed to support young, keen farmers on their path to land ownership.

Circular Head portfolio (11 farms), Circular Head TAS – 3500 hectares running 8500 cows.

DA & PM CONN PTY LTD

Own a large-scale premium cattle breeding operation comprising three properties, which total more than 10 per cent of Flinders Islands’ arable land mass.

In total the portfolio comprises the properties known as Tiree (2339ha), Reedy Lagoon (1688ha) and Durris (599ha) across 26 certificates of title, which has been aggregated during the past three decades.

Flinders Island Farms, Flinders Island TAS — 4626 hectares

FIFE CAPITAL

Allan Fife is the founder and director of Fife Capital, an “independent alternative asset manager” on “behalf of institutions, retirement funds and private capital sources”. Bought the historic 3386ha property, Stonehenge— home to a massive Tasmanian homestead and farm steeped in 170 years of history.

Stonehenge, Stonehenge TAS — 3386 hectares

FOSTER FAMILY

Well known as part-owner of one of Australia’s largest cattle enterprises, the North Australian Pastoral Company, the Foster family primary Tasmanian agricultural asset is the 1236ha Mineral Banks beef farm.

Alongside Mineral Banks the Foster family’s agricultural pursuits include significant investment in NAPCo, dating back to the 1930s. Previously they owned 43 per cent of the company, but when the Queensland Investment Corporation acquired an 80 per cent interest in 2016, the Fosters retained the remaining 20 per cent stake.

Mineral Bank, Ringarooma TAS — 1236ha

GO. FARM (AUSTRALIA)

Investment company oversees more than $1 billion worth of agricultural and water assets in northern Victoria, southern NSW and Tasmania. Backers include fruit and vegetable king Robert Costa. Purchased 3300 hectares of mixed farmland west of Ballarat in Victoria, including Eurambeen Station at Beaufort, in April 2024.

Tasmanian Premium Land, Launceston TAS – 939 hectares being converted into vineyards.

GREENHAM GROUP

The Greenham meat processing family, a key supplier to Cape Grim branded beef, own one of the largest contiguous holdings of agricultural land in Tasmania, Westmore.

Westmore was listed for sale last year where it was expected to be worth more than $70m.

Westmore, Marrawah TAS — 3368 hectares

HARPER AND OONAGH KILPATRICK

Denium Dairy, Woolnorth, TAS — 711 hectares

INGLEBY FARMS (UNITED KINGDOM)

Backed by the wealthy Swedish Rausing family. Own and manage 43 farms and forests across nine countries and four continents, spanning 100,000 hectares. The Australian business comprises 22,050 hectares running beef and dairy cattle and sheep, as well as growing row crops.

Tasmania Aggregation (five farms), TAS – 9013 hectares

LAGUNA BAY

Established in 2010 and one of Australia’s long-standing ag fund managers. Provide investment partners with exposure to three key themes: rising food demand, decarbonisation and inflation.

40 South Dairies (15 farms running 11,500 milking cows), Smithton TAS – 4000 hectares

Lowestoft (Fogarty Wine Group), Hobart TAS

Strelley Farm Estate (Fogarty Wine Group), Richmond TAS – 170 hectares

Swansea Farm(Fogarty Wine Group), Swansea TAS — 1048 hectares

MACQUARIE AGRICULTURE

Australia’s second-biggest investor in agriculture with more than $4 billion worth of assets across sheep, cattle, mixed farming, cropping and horticulture. Includes foreign capital.

Vitalharvest Freehold Trust

Comprises four berry and citrus farms in NSW and Tasmania and three in the Riverland region of South Australia, leased to Costa Group. Purchased for $357.35 million in 2021 after drawn-out bidding war with ROC Partners.

MOON LAKE INVESTMENTS

Run what was once Australia’s largest dairy farm business, purchased from Van Diemen’s Land Company for $280 million in 2016. Sold 25 dairy farms to Melbourne-based fund manager Prime Value Asset Management (see separate listing) in 2021 and another 700 hectares in 2024. Sold 6000 hectares to TRT Pastoral in 2021 for $120 million. Chinese businessman Xianfeng Lu announced in April 2024 that the remaining 9500 hectares of farmland, including 4207 hectares of dairy land, were up for sale.

VDL Farms, Cape Grim TAS

PELZTER FAMILY

A blue ribbon northern Tasmanian farm with more than 200 years of history has hit the market, listed for sale for the first time in more than 70 years.

The Peltzer family is selling Logan, a 2683ha irrigated and dryland cropping and grazing property at Evandale in the Northern Midlands region, located 20 minutes from Launceston.

Logan, Evandale TAS — 2683 hectares

PRIME VALUE ASSET MANAGEMENT

Melbourne-based investment vehicle with citrus and dairy funds. In April 2023, its dairy portfolio comprised about 5150 hectares of land spread across 11 farms in northwest Tasmania and two farms in southwest Victoria. Purchased 25 dairy farms from Moon Lake Investments (see separate listing) in 2021 and another 700 hectares in 2024.

Harcus dairy, northwest TAS

Meadowbank dairy, northwest TAS

Rocky Cape dairy, northwest TAS

Sunny Hill dairy, northwest TAS

Talawa dairy, northwest TAS

Togari Group dairy, northwest TAS

Woolworth ‘inside the fence’, Woolnorth TAS – 700 hectares

PSP INVESTMENTS (CANADA)

Pension fund for the Canadian public service, including the world-famous Royal Canadian Mounted Police, is the biggest investor in Australian agriculture. Has about $7.5 billion in farmland and water assets across multiple states through various joint ventures.

Aurora Dairies

Established in 2019 with the acquisition of Warakirri Dairies. One of Australia’s largest milk producers with strategic investments across 16,820 hectares of Victoria (20,140 cows producing 132 million litres of milk), South Australia (7400 cows producing 56 million litres) and Tasmania (12,700 cows producing 65 million litres).

Ashburton, northern TAS

Astells, northern TAS

Blyth Vale, northern TAS

Bulgar Hill, northern TAS

Forest Farm, northern TAS

Lacrum, northern TAS

Lirra Lirra, northern TAS

Midlothian, northern TAS

Oxberry Dairy, northern TAS

Springvale, northern TAS

Support Block Parkham, northern TAS

The Avenue, northern TAS

Westhaven, northern TAS

Fresh Country Farms of Australia

Portfolio includes investments in hi-tech glasshouses and permanent crops including almonds, avocados, citrus, berries, mangoes, wine grapes and table grapes.

Riana Berries, Riana TAS – 50 hectares

RIMANUI FARMS (NEW ZEALAND)

New Zealand pastoral vehicle owned by the Spencer family. Purchased the 2782-hectare Tielda at Moree NSW in 2021 for $18.5 million. Paid more than $100 million in 2022 for the 4448-hectare Vaucluse Estate in Tasmania.

Vaucluse Estate, Conara TAS – 4448 hectares

TASMAN AGRICULTURE LIMITED (NEW ZEALAND)

Corporate dairy farmer operating about 21 dairy farms across New Zealand’s South Island.

The Apple Isle’s largest farm is back on the market, listed for sale following the death of its renowned owner earlier this year. Rushy Lagoon, a 21,744ha landholding in Tasmania’s northeast corner, is for sale six years after the late Allan Pye, regarded as one of New Zealand’s richest farmers, last offered the premier dairy, beef and cropping property.

Rushy Lagoon, Red Hills and East Wyambie, Rushy Lagoon TAS – 22,000 hectares

TRT PASTORAL

Owned by the Roberts-Thomson family of Melbourne, TRT Pastoral has amassed significant landholdings on King Island (9712 hectares), in northwest Tasmania (7082 hectares) and in Victoria’s North East (2200 hectares) in recent years with assets valued at about $500 million. In 2021 it paid $120 million for a 6000-hectare slice of the historic Woolnorth aggregation in northwest Tasmania.

Boongara, King Island TAS

Dinibilli, King Island TAS

Harcus Dairy, Woolnorth TAS

Harcus River South, Woolnorth TAS

Longford, King Island TAS

Manana, King Island TAS

Red Marsh, Woolnorth TAS

Reekara Park, King Island TAS

Stalky Coopers, King Island TAS

Winton South, King Island TAS

Woodford, King Island TAS

Woolnorth West, Woolnorth TAS

Yellow Rock, King Island TAS

WAVERLEY STATION

Owned the Crouch family with extensive Angus beef farming operations in NSW and on Tasmania’s King Island. Paid $22 million-plus for the 1048-hectare Reedy property on King Island, to add to its existing portfolio, in July 2023.

King Island Aggregation, King Island TAS