Cobran West near Hay in the NSW Riverina for sale for $25m

A 6750ha farm adjoining one of Australia’s biggest irrigated cropping and pastoral properties has hit the market.

A prized Riverina farm adjoining one of Australia’s biggest irrigated cropping and pastoral properties has hit the market for $25 million-plus.

The 6750ha Cobran West farm, which neighbours the renowned 14,149ha Cobran Station has been listed for sale by the Westchester Group of Australia, a subsidiary of New York-based teacher superannuation giant TIAA-CREF.

The listing comes after the Westchester Group of Australia listed Cobran Station for sale in October last year with expectations of up to $50 million.

Farming families and corporate investors are both expected to be in the race for the irrigated cropping and pastoral Cobran West holding.

The $25 million price guide is for the land and fixed improvements only, with 10,000ML of Murrumbidgee River Water Entitlements for sale at market value.

Inglis Rural Property director and selling agent Sam Triggs said the Cobran West farm was on offer in one-line or in two parts.

The renowned 14,149ha Cobran Station was listed for sale by the Westchester Group of Australia in 2021.

“The property is two aggregated farms with the ability to split it into independent farms because there are two separate supply channels from the Murrumbidgee,” Mr Inglis said.

“We expect local family farming groups to be interested in Cobran West as it represents good value for dollar per hectare for farms in the southern Riverina.

“We also expect corporate investor interest, especially those with horticultural farming and development interests.

“There has been big growth for horticultural permanent plantings so the farm could suit those wanting to grow almonds, walnuts, pistachios and citrus.”

Cobran Station and Cobran West have been owned by Westchester Group since 2012.

TIAA-CREF is one of the biggest investors in Australian agriculture with $2 billion worth of assets reported this year.

Cobran West has 3150ha developed for irrigated cropping, mostly used for cotton, wheat and canola crops, about 1000ha of older irrigation land which could be redeveloped and a remaining 2600ha for cattle and sheep grazing country.

Along with the 10,000ML of Murrumbidgee River Water Entitlements there are 1800ML of water storage capacity and 340ML of daily river pumping capacity via two supply channels.

The farm is for sale via expressions of interest closing Thursday, September 15 at 4pm.