50 of the biggest Australian farm deals in the past five years

From $70 million to $860 million, buyers have paid top dollar for Aussie farmland. See the details behind the biggest deals and search our interactive list.

Australia’s Top 50 farm sales of the past five years have seen more than $10.1 billion change hands as corporate investors and farming families secure premier assets.

Since 2018, 16 deals have been worth more than $200 million while a further 19 transactions have topped the $100 million-mark.

In the past 12 months domestic investors and farmers have been behind some of the biggest farm sales with 25 of the top 50 deals completed by an Australian entity.

Recently, the $370-million Corinella Farms portfolio, Cubbie Station, the $120-million Shenhua Aggregation, the $80-million Kalanga Aggregation and the $70-million Woorndoo Aggregation were all purchased from overseas investors by a variety of Australian buyers.

The 22,500ha Corinella Group of properties in Victoria and South Australia was sold by Proterra Investment Partners to 27 different Australian purchasers late last year.

But 40 of the 50 biggest deals between since July 2016 involved some level of foreign capital, with buyers from the likes of Canada, the US, Singapore, The Netherlands and the Bahamas.

Bolstered by these top sales, farm values across Australia soared by 20 per cent last year as the nation’s median price of farmland hit $7087 a hectare.

Rural Bank general manager sales partnerships and marketing Simon Dundon said demand for farms was driven by low interest rates, strong seasonal conditions and high commodity prices.

“Strong demand has made the market for farmland incredibly competitive,” Mr Dundon said.

“Stronger agricultural commodity prices coupled with a second consecutive year of favourable seasonal conditions in most areas improved cash flows and strengthened balance sheets with support from record low interest rates and confidence in the long-term outlook for the agricultural sector all combining to see a surge in the buying power of Australian farmers.”

In recent years Canada’s PSP investments has become Australia’s biggest agricultural investor with $5 billion worth of assets.

In addition to paying $860 million for 12,000ha of almond plantations and almost 90,000 megalitres of high-security water near Robinvale in northern Victoria and taking over Australia’s fourth-oldest company, Webster Limited, for $854 million to acquire 340,000ha and 153,000 megalitres of water, PSP has increased its holdings, recently investing millions more.

Recent PSP purchases to make the top 50 include its acquisition of Narwietooma, Glen Helen, Derwent and Napperby Stations for about $100 million and four slices of the $70-million Ace Dairy portfolio via their Aurora Dairies arm.

TOP 50 BIGGEST AUSSIE FARMLAND DEALS IN THE PAST FIVE YEARS

1. ALMOND ORCHARDS, ROBINVALE VIC (2020)

$860 MILLION

SELLER: Olam Orchards (Singapore)

BUYER: PSP Investments (Canada)

2. WEBSTER LIMITED (2020)

$854 MILLION

SELLER: Webster Limited (ASX listed)

BUYER: PSP Investments (Canada)

3. LAWSON GRAINS (2021)

$600 MILLION

SELLER: Macquarie Agriculture

BUYER: Alberta Investment Management Corporation (Canada)

4. AUSCOTT LIMITED (2020)

$500 MILLION-PLUS

SELLER: JG Boswell Company (US)

BUYER: PSP Investments (Canada)

5. CONSOLIDATED PASTORAL COMPANY ASSETS (2020)

$500 MILLION

SELLER: Consolidated Pastoral Company

BUYER: Guy Hands (UK)

6. PROTEN LIMITED CHICKEN FARM OPERATORS (2018)

$370 MILLION

SELLER: ProTen Limited

BUYER: ROC Partners-First State Super

7. CORINELLA GROUP PORTFOLIO, VIC AND SA (2021)

$370 MILLION

SELLER: Proterra Investment Partners (US)

BUYER: Various

8. VITALHARVEST (2021)

$357 MILLION

SELLER: Vitalharvest Freehold Trust (ASX listed)

BIDDERS: Macquarie Infrastructure and Real Assets

9. BFB FARMS, TEMORA NSW (2019)

$325 MILLION

SELLER: Proterra Investment Partners (US)

BUYER: PSP Investments (Canada)

10. HASSAD AUSTRALIA PROPERTIES (2018)

$300 MILLION

SELLER: Hassad Australia

BUYER: Macquarie Agriculture (Paraway Pastoral Company and Viridis Ag)

11. MIDKIN AGGREGATION, MOREE NSW (2019)

$300 MILLION

SELLER: JG Boswell Company-Auscott Limited (US)

BUYER: PSP Investments (Canada)

12. CUBBIE STATION 51% STAKE, DIRRANBANDI QLD (2022)

$250 MILLION

SELLER: Cubbie Agriculture (China)

BUYER: Macquarie Infrastructure and Real Assets

13. MIRANDA DOWNS STATION QLD (2021)

SELLER: Stanbroke Pastoral Company

BUYER: Hughes Pastoral Company

14. CUBBIE STATION 49% STAKE, DIRRANBANDI QLD (2019)

$200 MILLION

SELLER: Cubbie Agriculture (China)

BUYER: Macquarie Infrastructure and Real Assets

15. SUSTAINABLE AGRICULTURE FUND PORTFOLIO (2018)

$185 MILLION

SELLER: Sustainable Agriculture Fund

BUYER: Various investors

16. JASPER FARMS AVOCADO, BUSSELTON WA (2018)

$180 MILLION

SELLER: Delroy family

BUYER: Ontario Teachers Pension Plan (Canada)

17. WYADRA AND COWL COWL STATIONS, HILLSTON NSW (2020)

$140 MILLION

SELLER: Harvard University Endowment Fund (US)

BUYER: Hancock Agricultural Investment Group (US)

18. ARGYLE DOWNS, NEWRY AND AUVERGNE STATIONS WA AND NT (2019)

$135 MILLION

SELLER: Consolidated Pastoral Company

BUYER: Clean Agriculture and International Tourism (Vietnam)

19. BENGERANG AND DARLING FARMS NSW (2018)

$132.7 MILLION

SELLER: Webster Limited (ASX-listed)

BUYER: PSP Investments (Canada)

20. PIANGIL ALMOND ORCHARD, PIANGIL VIC (2020)

$129 MILLION

SELLER: United Almonds, Bright Lights Agribusiness and Lake Lucas Almonds

BUYER: Select Harvests (ASX-listed)

21. DAIRY FARMS, KATUNGA VIC (2019)

$120 MILLION

SELLERS: Various

BUYER: goFARM

22. SUNDOWN VALLEY, ARMIDALE NSW AND GUNNEE FEEDLOT, INVERELL NSW

$120 MILLION

(2018)

SELLERS: Sundown Pastoral Company

BUYER: Gina Rinehart-Hancock Prospecting

23. WOOLNORTH AGGREGATION, SMITHTON TAS (2021)

$120 MILLION-PLUS

SELLER: Van Dairy (China)

BUYER: TRT Pastoral

24. SHENHUA AGGREGATION, GUNNEDAH NSW (2022)

$120,000,000

SELLER: Shenhua Group (China)

BUYER: Various

25. MURRAY RIVER LAND AND WATER-ULUPNA PASTORAL COMPANY MAJORITY STAKE (2021)

$120,000,000

SELLER: John Nicoletti

BUYER: ROC Partners

26. JEMALONG, JEMALONG CITRUS AND MERROWIE, HILLSTON NSW (2018)

$115 MILLION

SELLER: Twynam Agricultural Group (Argentina)

BUYER: MRA Merrowie Pty Ltd (US)

27. NORMAN FARMING AGGREGATION, TOOBEAH QLD (2020)

$105 MILLION-PLUS

SELLER: Norman Farming

BUYER: Hancock Agricultural Investment Group (US)

28. WAVE HILL AND CATTLE CREEK STATIONS NT (2021)

$104 MILLION

SELLER: Western Grazing

BUYER: Syndicate including Jumbuck Pastoral Company

29. MILTON DOWNS, MOREE NSW (2022)

$100 MILLION

SELLER: Greentree family

BUYER: Northern NSW family

30. RIVEREN AND INVERWAY STATION, VICTORIA RIVER NT (2022)

$100 MILLION

SELLER: Gina Rinehart-Hancock Agriculture

BUYER: Hughes Pastoral Company

31. SOUTH CALANDOON, GOONDIWINDI QLD (2021)

$100 MILLION

SELLER: Duddy family

BUYER: Unknown

32. NARWIETOOMA, GLEN HELEN, DERWENT AND NAPPERBY STATIONS, ALICE SPRINGS NT (2022)

$100 MILLION

SELLER: Hale River Holdings

BUYER: PSP Investments (Canada)

33. THE FINANCE PORTFOLIO, MOURA QLD (2021)

$100 MILLION

SELLER: THF Finance (Germany)

BUYER: Various

34. MOORAL STATION, HILLSTON NSW (2020)

$98 MILLION

SELLER: Rural Funds (ASX listed)

BUYER: Hancock Agricultural Investment Group (US)

35. ERREGULLA PLAINS, MINGENEW WA (2020)

$97 MILLION

SELLER: Smart family

BUYER: PSP Investments-Daybreak Cropping (Canada)

36. MANTUAN DOWNS STATION, SPRINGSURE QLD (2020)

$92.6 MILLION

SELLER: Clark and Tait

BUYER: North Australian Pastoral Company

37. SUGAR FARMS, BUNDABERG QLD (2020)

$81.1 MILLION

SELLER: MSF Sugar (Thailand)

BUYER: Rural Funds (ASX listed)

38. DAIRY AGGREGATION, SMITHTON TAS (2021)

$80 MILLION

SELLER: Various

BUYER: Laguna Bay Pastoral Company (US)

39. CROYDON STATION, MARLBOROUGH QLD (2021)

$80 MILLION

SELLER: Acton Land and Cattle

BUYER: Redrock Trading

40. KALANGA AGGREGATION, TOOBEAH QLD (2022)

$80 MILLION

SELLER: Hancock Agricultural Investment Group (US)

BUYER: Morella Agriculture

41. BANONGILL STATION, SKIPTON VIC (2020)

$80 MILLION

SELLER: Laguna Bay Agricultural Fund (US)

BUYER: Local farming consortium

42. NICOLETTI PORTFOLIO, WA (2019)

$78 MILLION

SELLER: John Nicoletti

BUYER: Saudi Agricultural and Livestock Investment Company (Saudi Arabia)

43. POULTRY FARMS, GRIFFITH NSW (2019)

$72 MILLION

SELLER: Rural Funds (ASX listed)

BUYER: ProTen Investment Management

44. UPTON FARMS AGGREGATION, NOWENDOC NSW (2022)

$70 MILLION-PLUS

SELLER: Greg Upton

BUYER: Unknown

45. ACE DAIRY HOLDINGS PORTFOLIO, GIPPSLAND VIC (2022)

$70 MILLION

SELLER: Ace Dairy

BUYER: Various including PSP Investments (Canada)

46. TELOPEA DOWNS, TELOPEA VIC (2018)

$70 MILLION

SELLER: Hassad Australia (Qatar)

BUYER: AJ & PA McBride

47. RUBY DOWNS AND STURT CREEK, KIMBERLEY WA (2022)

$70 MILLION

SELLER: Gina Rinehart-Hancock Agriculture

BUYER: Crown Point Pastoral Company

48. WOORNDOO AGGREGATION, LAKE BOLAC VIC (2021)

$70 MILLION

SELLER: Laguna Bay Agricultural Fund (US)

BUYER: Various

49. GUNDALINE STATION, CARRATHOOL NSW (2018)

$70 MILLION

SELLER: Southern Ag fund including Blue Sky (ASX listed), ABP (Netherlands) and Duxton (Singapore)

BUYER: Optifarm (Netherlands)

50. TANUMBIRINI AND FOREST HILL STATIONS, KATHERINE NT (2020)

$70 MILLION

SELLER: Thames Pastoral Company, controlled by a UK-based investment fund

BUYER: Langenhoven family-Rallen Australia (South Africa)