Most expensive farms for sale in Australia
From orchards expected to fetch $20m-plus to giant aggregations valued at more than $600m, we reveal the most expensive properties to have hit the market in Australia.
Demand for Australian farmland is running hot thanks to low interest rates, strong agricultural commodity prices and a sharp turnaround in seasonal conditions.
Records for rural property have tumbled across most states and territories this year amid an investor rush to capitalise on the industry’s strong footing, which experts say has defied the Covid-19 pandemic.
Major transactions this year have already included the $500m sale of NSW cotton giant Auscott Limited to Canada’s PSP Investments and the $357.35m sale of the Vitalharvest business — which owns citrus and berry farms leased to horticulture giant Costa Group – to Macquarie Infrastructure and Real Assets following a drawn-out bidding war with Roc Partners.
Additionally, Stanbroke Pastoral Company last month sold its 438,000ha Miranda Downs Station in Queensland’s Gulf Country to the Hughes family of Hughes Pastoral Company for $180m.
Here we take a look at the major farms and aggregations still on the market – and what they might fetch.
$600M
LAWSON GRAINS
NSW AND WA
105,000 HECTARES
Macquarine Agriculture — the nation’s second-biggest farmland investor — is selling its Lawson Grains portfolio comprising 105,000 hectares, or more than a quarter of a million acres, of cropping land in NSW and Western Australia.
Lawson Grains is one of three of Macquarie Group’s three agriculture-specific investment funds, along with Paraway Pastoral and Viridis Ag. Their combined assets are valued at more than $3 billion.
Industry sources say the Lawson Grains portfolio – comprising more than 70 properties purchased since its launch in 2012 – could realise $600m and has attracted widespread domestic and international buyer interest.
$300M
HANCOCK PROSPECTING’S KIDMAN AND CO CATTLE STATIONS
NT AND WA
1.9 MILLION HECTARES
Billionaire mining magnate Gina Rinehart is offloading $300m worth of cattle stations in the Northern Territory and Western Australia.
The seven cattle stations and one feedlot cover almost 1.9 million hectares with the offering including almost 110,000 cattle.
The offering accounts for almost 20 per cent of the 10 million hectares of cattle country owned by Ms Rinehart through Hancock Agriculture and S. Kidman & Co, of which she is the majority owner.
$230M
WALHALLOW AND AMUNGEE MUNGEE STATIONS
DALY WATER, NT
1.3 MILLION HECTARES
Retail king Brett Blundy has listed a 1.3 million hectares offering in the Northern Territory for sale, with an asking price of about $230m.
The offering comprises the 1 million hectare Walhallow Station at Creswell and the 316,970ha Amungee Mungee in the Daly Water region.
The Australian-born, Bahamas-based Mr Blundy purchased Walhallow from Paraway Pastoral Company in December 2015 for a record $100m.
$122M-PLUS
SHENHUA AGGREGATION
LIVERPOOL PLAINS, NSW
16,570 HECTARES
Chinese coalmining giant Shenhua Group is offloading its extensive rural property portfolio on the farming-rich Liverpool Plains of northwest NSW for a whopping $122m-plus.
The offering comes just months after the state-owned Shenhua brokered a multimillion-dollar deal with the NSW government to walk away from its $1bn Watermarket coalmining project in the region, following years of widespread community unrest.
The Shenhua offering comprises 16,570ha of land, bought at premium prices by the company over the past decade, in the Breeza, Tambar Springs and Barraba districts around Gunnedah.
$120M
ULUPNA PASTORAL
STRATHMERTON, VIC
15,000 HECTARES
More than 60 farms covering 15,000ha managed by Ulupna Pastoral Company have been placed on the market for sale and leaseback or as a co-investment opportunity.
The farms — owned or contracted to buy by the Murray River Land Trust — are within 35km of Strathmerton in northern Victoria and have been accumulated within the past two years.
Trustee company Murray River Land Pty Ltd and Ulupna Pastoral Company are both owned by LAWD rural property senior director Danny Thomas and Western Australia’s once largest grain grower Giovanni “John” Nicoletti.
$80M-PLUS
BALLANDRY STATION
GRIFFITH, NSW
26,945 HECTARES
One of the largest individually owned farming enterprises in the northern NSW Riverina has been listed for sale for the second time in three years.
The huge Ballandry Station, sprawling 26,945ha at Griffith in NSW, has been listed for sale via expressions of interest.
The irrigation property is owned by David Bartter. It was also listed for sale in June 2018 but failed to sell.
Ballandry Station comprises sixteen parcels, four of which fall within Murrumbidgee Irrigation’s area of operation.
$70M-PLUS
KALANGA AGGREGATION
GOONDIWINDI, QLD
12,840 HECTARES
One of the biggest foreign investors in Australian agriculture is selling a large chunk of farmland for more than $70m.
Boston-based Hancock Agricultural Investment Group, which has about $1bn in farmland and water assets in Australia, last month listed the 12,840-hectare Kalanga Aggregation near Goondiwindi in southern Queensland.
Kalanga is part of the 18,000ha of former Norman Farming country purchased by HAIG in 2018 for $105m.
$70M
ACE DAIRY
MAFFRA, VIC
2040 HECTARES
A conglomerate of international institutional investors is selling its premium portfolio of seven high quality dairy farms in East Gippsland milking about 4000 cows.
The farms are held by Ace Dairy Holdings in the Sale, Stratford, Maffra and Heyfield districts, with the investment fund portfolio managed by Duxton Asset Management.
Ace Dairy Holdings is mostly owned by Deutsche Bank’s DWS Global Agricultural Land & Opportunities Fund and Dutch government and education pension fund, Stichting Pensioenfon ABP, but the Duxton group also has a share.
$60M-PLUS
PICARDY STATION
DYSART, QLD
10,619 HECTARES
A Queensland cattle station that has been converted to mostly farming has hit the market with an asking price of more than $60 million.
The 10,619ha Picardy Station at Dysart, north of Emerald, is being by offered by Melbourne-based Tiverton Agriculture.
Picardy has been transformed over the past four years from principally a cattle breeding and finishing property to a large-scale dryland farming operation, growing sorghum, chickpeas and cover crops.
$45M-$50M
SUNLAND AGRICULTURE AGGREGATION
HILLSTON, NSW
1716 HECTARES
One of southern NSW’s best-known irrigation farms has hit the market with an asking price of $45m-$50m.
The 1747ha property Sunland Agriculture at Hillston, owned by well-known farmers Tim and Sally Watson, is being sold via expressions of interest.
Mr Watson is the chairman of Namoi Cotton – Australia’s biggest cotton processing company.
According to the listing, Sunland Agriculture is a “world class turnkey investment opportunity”.
$40M-PLUS
TUBBO STATION
NARRANDERA, NSW
14,876 HECTARES
One of Australia’s best-known rural properties, the historic Tubbo Station in the NSW Riverina, has been listed for sale by its billionaire owners.
The family of the late Giles W Pritchard-Gordon, who made his fortune in shipbuilding and farming in the Sussex region of England, is selling the 14,876ha property near Darlington Point, west of Narrandera.
Historians once described Tubbo as “one of the richest and largest sheep grazing properties in the Riverina”.
$35M-PLUS
BELLEVUE AND NYCHUM STATIONS
CHILLAGOE, QLD
210,000 HECTARES
A prominent Australian agribusiness identity is selling two Queensland cattle stations — covering almost a quarter of a million ha — for tens of millions of dollars.
Bellevue Station and Nychum Station, on the Mitchell River near Chillagoe, about 300km northwest of Cairns, are being offered for sale by former Australian Agricultural Company chairman Nick Burton-Taylor.
Covering more than 210,000ha, the stations are expected to fetch more than $35m and are being offered on a walk-in, walkout basis.
$30M
TULOONA
HARROW, VIC
2500 HECTARES
Rural property records in Victoria’s Western District could be on the line with a renowned livestock and cropping farm hitting the market for about $30m.
The 2500ha Tuloona property at Harrow is being offered by the Craig family from Adelaide after 40 years of ownership.
Tuloona has the capacity to run 26,000-28,000 dry sheep equivalents. It also grows about 425ha of canola and barley.
$30M
GREENVIEW FARMS ALMOND ORCHARD
TABBITA, NSW
584 HECTARES
An established almond orchard in the NSW Riverina has hit the market with price expectations of about $30m.
The 584ha property, Greenview Farms at Tabbita near Griffith in NSW, is being sold by the Schembri family.
The property includes 430ha planted to several almond varieties including nonpareil, monterey, wood colony, planted in 2015, and nonpareil and shasta, planted in 2019.
$28M-PLUS
BULN GHERIN
STOCKYARD HILL, VIC
1882 HECTARES
A historic farm in Victoria’s Western District has been listed for sale with an asking price of $28m-plus.
The 1882ha property, Buln Gherin at Stockyard Hill near Skipton, is owned by the Carpenter family and will be sold via expressions of interest.
The mixed farming property, with views of Mt Cole and Mt Langi Ghiran, will sold as a whole or three contingent holdings. The Carpenter family have run wool and cropping enterprises on the property.
$25M
BREWARRANA
NARRANDERA, NSW
3256 HECTARES
Historic NSW Riverina property Brewarrana has hit the market.
The 3256ha mixed-farming property on the banks of the Murrumbidgee River has an asking price of $25m, which includes water entitlements.
The property has been owned by Brewarrana Holdings Pty Ltd, a family investor from Melbourne, since 1985.
Brewarrana features 16km of Murrumbidgee River frontage and is 77 per cent arable with 554ha of flood irrigation development.
$20M-PLUS
CLYDEBANK DAIRY AGGREGATION
SALE, VIC
1273 HECTARES
The well-known Gray Wigg Gault company from Victoria’s Gippsland region has listed a portfolio of dairy farms for sale with an asking price of more than $20m.
The Clydebank Aggregation near Sale has hit the market with land titles showing the property is owned by trucking contractor Patrick Gray and local farmers Lachlan Wigg and Matthew Gault.
According to the listing, marketed by LAWD, the aggregation comprises of 1273ha and has significant water entitlements.
$20M-PLUS
MURRAY RIVER ORGANICS
MERBEIN AND NANGILOC, VIC
2823 HECTARES
This portfolio of six properties, plus dryland cropping country, feature highly developed intensive dried vine fruit – and its has just hit the market this week.
The sale includes the opportunity for an offtake agreement.
This properties are being sold by Danny Thomas from LAWD and expressions of interest will close on September 2.
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