Northern Victorian farms sold for more than $50m

A Queensland farming family has swooped on 4031ha of farmland near Echuca, adding it to their existing Victorian interests. See all the details.

An expansive 4031ha northern Victorian cropping aggregation has changed hands, with a multi-generational Queensland farming family snapping up the five-farm portfolio.

Australian Fresh Milk Holdings (AFMH) have sold their Torrumbarry Farms Aggregation to McLean Farms, in a deal understood to be worth greater than $50m.

On the market for two years, AFMH decided to sell the Torrumbarry Farms Aggregation as it was surplus to their requirements, following their purchase of a dairy heifer rearing property.

The aggregation comprised three hubs within a 7km radius, including the Torrumbarry Estate (2297ha), Warwick Farm, Billabong and Wattle Creek (1610ha) and Pollocks (124ha), located 16km from Echuca.

Following the purchase, McLean Farms plan to expand grain production under the Torrumbarry Farms Aggregation irrigated and dryland systems which will be used to supply their diverse interests, including their Victorian poultry operations near Bendigo.

Alongside their Victorian interest, McLean Farms also operate a circa-3600ha farming operation at Pittsworth, on the Darling Downs in southern Queensland.

McLean Farms will expand grain production at the recently purchased Torrumbarry Farms Aggregation.

Of this operation about 1500ha are used for cropping while also grazing 1500 sheep plus a cattle herd on about 2000ha.

McLean Farms are also a major egg producer, managing more than 1.2m birds.

“The McLean family is renowned for large scale sustainable agricultural holdings and this acquisition will support our existing operations and underpin future growth,” McLean Farms’ managing director Andy Crocker said.

AFMH was founded by the Moxey family, however, in 2015 a consortium was formed between Chinese agriculture group New Hope plus the Perich and Moxey families.

Six years ago they purchased the Torrumbarry Estate, which includes the 10-bedroom, five-bathroom brick homestead, plus the 2500-cow Coomboona Dairy at Undera in the Goulburn Valley.

LAWD senior director Danny Thomas and LAWD director Erica Semmens handled the sale of the aggregation.

Grain production at Torrumbarry Farms Aggregation will supply McLean Farms’ diverse interests, including their Victorian poultry operations at nearby Bendigo.

“It’s always rewarding to see a significant property like this transition from one family to another, continuing the legacy of hard work and land stewardship,” Mr Thomas said.

“The original Torrumbarry property was owned by the Baillieu family for approximately 60 years. It’s rare to see large scale properties retained in family ownership in a market awash with foreign capital.”

Considered a grain production powerhouse, the Torrumbarry Farms Aggregation was planted to 1754ha of wheat, 937ha of canola and 507ha of barley in 2023.

Irrigated wheat crops returned 7.2t a hectare while dryland wheat delivered 4t a hectare.

Canola returns ranged from 3t a hectare, irrigated, to 2.1t a hectare, dryland.

A significant water portfolio was also offered with the aggregation, including 1939ML of High Reliability Murray Zone 7 and Goulburn 1A and 174ML of Low Reliability Murray Zone 7 water entitlements.

Existing infrastructure with the aggregation includes machinery shedding, hay shedding, grain storage (780t combined capacity), new undercover Atlex cattle yards and fertiliser storage.

There is sundry rural shedding and nine dwellings including lifestyle properties with Murray River frontage.

Originally published as Northern Victorian farms sold for more than $50m