Size of a small country: Six dry cropping properties on the market
Larger than many small countries, six large cropping farms – one held by one family for more than a century – are on the market, with the owners hoping to make multimillion dollar windfalls.
QLD News
Don't miss out on the headlines from QLD News. Followed categories will be added to My News.
Larger than many small countries, six large cropping farms – one held by one family for more than a century – are on the market, with the owners hoping to make multimillion dollar windfalls.
While buyers of Australian farmland are becoming more discerning, quality properties continue to attract premium prices, said JLL Agribusiness, Capital Markets director Clayton Smith.
Mr Smith said the farmland market was currently showing a mixed but generally positive conditions.
He said the northern regions of Australia have seen favourable weather conditions during the start of the year, providing a positive outcome for both vendors and purchasers. Some southern areas face drier conditions, the overall sentiment was optimistic.
“Properties continue to transact, with A grade assets continuing to achieve premium prices, reflecting their desirability and strong performance,” Me Smith said.
“B and C grade properties meanwhile are experiencing extended transaction time frames, indicating a more discerning buyer pool.
“Activity is returning to the market as economic and geopolitical markets stabilise following the lowering of the cash rate plus the completion of both the American and Australian elections.
“This has been further bolstered through rising prices for key commodities such as grain, beef, and lamb. This renewed confidence is encouraging both vendors and purchasers to engage in transactions.”
However, Mr Smith said it was not a level playing field with offshore owners being forced to sell up because of state government land tax which will in the long term advantage the southern states.
“In Queensland, rising land prices over recent years are contributing to properties coming onto the market with some vendors (foreign owned entities) being motivated in part by targeted state land taxes,” he said.
“This presents both opportunities and challenges for the agricultural sector in Queensland as these taxes don’t apply within neighbouring states”.
Oomabah Aggregation
Natural capital investment manager Kilter Rural is seeking about $60m for its aggregation in NSW’s southern Riverina.
The 7210ha Oomabah Aggregation is 55km from Deniliquin, and close to the Murray River and key commodity processing facilities.
It has five contiguous properties: the 3080ha Wahroonga/Oomabah/Main Camp, the 1197ha Burgess, the 2086ha Marabou/Belmont, 404ha Korringa and 443ha Swindon.
Across the portfolio, there are 484ha of irrigated cropping, 5086ha of dryland cropping, 142ha of grazing and the balance remnant vegetation and support land.
Colliers Agribusiness’ Duncan McCulloch said the Oomabah Aggregation represents a rare opportunity to acquire a large turnkey mixed cropping and grazing enterprise in a tightly held district.
“Featuring a well-developed irrigation network, including flood and centre pivot systems, the aggregation’s proximity to the Murray River and Murray Irrigation Limited offers further development upside.”
Two long-term, triple-net lease agreements underpin the Oomabah Aggregation generating a secure income and providing flexibility for either part passive investment or direct operational engagement.
The Oomabah Aggregation is available for sale in one line or as separate assets via an international expression of interest process closing on July 31.
Petro Station
Agricultural investment form goFARM is selling its large scale 26,673ha dry cropping property in southwest NSW.
Petro Station has seen steady improvements in productivity, with cereal yields more than doubling since 2018 and is being sold by. Elders Rural Services Australia with an expected price of about $20m.
Spanning 26,673ha, the property – which is 50km from Mildura – has been extensively developed and systematically managed to maximise production and efficiency, while aligning with leading ESG standards.
Petro Station has 9646ha of arable land with approval to crop up to 9769ha in addition to 12,525h under a Biodiversity Conservation Agreement
The current owner has made significant investment into key infrastructure including machinery and hay shedding, grain and fertiliser storage, farm-wide spray fill tank network and a strategically developed internal road system
Petro Station is being offered for sale via Expression of Interest with the first stage closing August 31.
Peep-O-Day
The owners of quality agricultural property Peep-O-Day which is nestled in the heart of NSW central west have price expectations of up to $14m.
Near Tottenham, the property spans 3813ha and has been owned by the Andrews family since 1996.
The property is divided into 12 paddocks – eight designated for rotational cropping and four for seasonal cropping, primarily for livestock production.
The rotational cropping system includes cereals, lupins, canola, and fallowing, while seasonal oats are planted strategically to enhance cattle feed supply.
Peep-O-Day places a strong emphasis on soil fertility, maintaining balanced nutrient levels.
Regular soil testing ensures the careful management of potassium and sulphur levels, supporting healthy, productive crops.
The property also incorporates break crops such as monola and lupins, which not only enhance nitrogen levels but also improve soil structure and contribute to long-term soil health.
The infrastructure on Peep-O-Day is robust and designed for operational efficiency.
With a grain storage capacity of 1900 tonnes, the property is well-equipped to handle and store its harvests.
Additional facilities include multiple spray water filling stations, silo bag pads, machinery and workshop sheds, a hay shed, and a centrally located cattle yard with a capacity for 200 head, ensuring smooth operations throughout the year.
Forbes Livestock & Agency Co agent Sam Mackay is selling the property.
Buckingbong Aggregation
Canadian investment giant AIMCo and New Forest, Lawson Grains, has a $40m price tag on an aggregation in the Riverina region of southern NSW.
Narrandera district’s Buckingbong Aggregation was put together in 2014 and 2015 and spans 4628ha. It comprises three holdings – the adjoining 2536ha Buckingbong and 654ha Calooli, and the nearby 1438ha Barragunda.
Lawson Grains is one of the country’s biggest corporate grain growers with a portfolio assembled over a decade by Macquarie before the operation was taken over three years ago by fund manager New Forests and its Canadian co-investor.
Lawson Grains is divesting the aggregation due to portfolio realignment within the region following the acquisition of the Bulgandra Aggregation near Rand earlier this year.
Around 92 per cent, or 4245ha, of the aggregation is arable and growing wheat, barley, canola and legumes.
Elders agent Nick Myer has been appointed to sell the aggregation as a whole or in three parcels.
Mudabie at Mudamuckla
After more than a century the Kuhlmann family is calling time on more than a century of ownership of is expansive farm on the Upper Eyre Peninsula in South Australia.
Covering 18,408ha, it is one of SA’s largest contiguous cropping operations, and grows wheat and barley on its arable area of 12,476ha, as well as running a self-replacing flock of 2000 Merino ewes.
Agent JLL Agribusiness’ Geoff Warriner Jock Grimshaw and Chris Holgar had the property – which is about 40km form Ceduna – on the market last year and are having another try to sell the turnkey operation and institutional-grade asset for more than $20m.
Mr Warriner said Mudabie’s appeal was further enhanced by its comparative value proposition.
“Underpinned by best-practice management, Mudabie has been able to drive incremental improvements in cropping yields, creating a substantial impact on financial outcomes, with a return on asset averaging in excess of 8 per cent on the past five years, significantly above industry average,” he said.
“On a national basis, the region represents a strong value proposition when you consider land rates and productive capacity.
“Compared with many other mid-to-high rainfall cropping areas throughout Australia, it offers a stronger and more attractive return profile.”
Carpendale Portfolio
With two of the six Carpendale Portfolio properties near Goondiwindi sold last year, the other four remain on the mark.
Located on the northern side of the Macintyre River, the remaining Carpendale Portfolio has about 9600 sqm of dryland cropping by Australian agricultural investment firm Laguna Bay.
The six properties were originally on the market for about $90m.
LAWD agents Danny Thomas and Jaclyn Hope and Nutrien Harcourts Goondiwindi agent Andrew Jakins were selling the remaining portfolio of Manus, Bendidee, Carpendale and Mayfai.
The portfolio has grown wheat, canola, and barley in the winter months and sorghum during summer, and is also suited to growing chickpeas and corn.
Three years ago, significant capital was invested into land class development including the levelling and improvement of 1611ha of melon-hole influenced cropping land, and the conversion and levelling of 1272ha of grazing and 482ha of shade-line country.
More Coverage
Originally published as Size of a small country: Six dry cropping properties on the market
11km of queues: Major delays after Bruce Hwy crash
Brisbane-bound commuters are experiencing 35-minute delays after a serious five-vehicle crash on the Bruce Highway just north of the city.
Boy, 14, dies after being hit by 4WD driven by teen
A tight-knit South East Queensland school community has been rocked by the news a Year 9 student has died after being struck by a 4WD driven by a teenager.