CBRE lists Allen family’s Eyre Peninsula landholding for sale
A prominent SA family is selling 14,000ha of farming land it has accumulated over six generations, with offers of around $20m expected.
The Allen family is selling close to 14,000ha of land on the Eyre Peninsula via a portfolio sale that is expected to attract offers of around $20m.
The family portfolio comprises of seven individual properties, and includes 4572ha of farming land at Wudinna, Kyancutta, Panitya and Yeltana Station, and a 9240ha grazing block 35km north of Kimba.
Led by brothers Jason and Trent, the Allens are prominent farmers in the region, having amassed their expansive landholding over more than 100 years and six generations.
They are now looking to relocate their family operation to NSW.
CBRE Agribusiness’s Phil Schell said family patriarch Albert James Allen originally purchased the family’s first property in the region in 1911.
“Some of the properties have been held in the Allen family for over 110 years, so we are expecting interest from local farming families to make the most of this opportunity, as well as out-of-district farmers and CBD-based investors,” he said.
“The Eyre Peninsula has benefited from above average harvests the last few years and is off to a good start for the 2023 crop because of early rainfall.
“Most crops across the district are well established and the timing of the campaign will allow the incoming purchasers access to ensure the properties are ready for the 2024 growing season.”
Improvements on the properties include residences, an indoor swimming pool, sheds, workshops, shearing sheds and horse stables.
The Allens have historically run a mixed operation of sheep, cattle and horses on the properties.
Mr Schell said Eyre Peninsula grain, cropping and livestock properties continued to attract interest from family groups and other investors, with CBRE closing $17m worth of farmland deals in the region so far this year, up from about $13m in the full-year 2022.
“Rising interest rates don’t seem to be affecting buyer confidence,” he said.
“When you’re talking about generational families they’re not here for five years, they’re here for 50, and so buyer confidence will remain.
“We have seen strong upside in values, with cropping and livestock property on Eyre Peninsula looking at 25 per cent to 30 per cent increase.”
Mr Schell and colleague Angus Bills are managing the sale of the Allen family portfolio via a two-stage expressions of interest campaign closing September 14.
The properties are being offered in one line or as individual holdings.
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