$20m NSW cropping farm back on the market
A 26,673ha cropping asset is for sale again almost three years after it was first listed for sale by an Australian farmland investor.
A huge cropping enterprise in the southwest of NSW is back on the market, almost three yeast after it was first listed for sale by an Australian farmland developer and investor.
GO.FARM have relisted their 26,673ha Petro Station, located about 60km northeast of Mildura, seven years after they acquired it.
In September 2022 the property was listed for sale, but GO.FARM retained the asset across the next few seasons, but now it has returned to the market where it is expected to field offers in the vicinity of $20m.
Petro Station has been developed into a high-performing cropping asset including 9646ha of arable land plus 12,525ha protected under a Biodiversity Conservation Agreement.
“As an agricultural property developer, we believe we have transformed Petro’s productivity, demonstrated its potential, and now seek to transfer its stewardship to the next owner,” GO.FARM managing director Liam Lenaghan said.
“It’s been a long-term effort by a dedicated team, so we’re proud of the asset Petro has become and the opportunity it now presents.”
ARUMPO, NSW
PETRO STATION
Property: cropping
Size: 26,673ha
Sale: expressions of interest, first stage closing August 7
Price: about $20m
Agent: Elders Real Estate
Contact: Nick Myer, 0427 610 278, Marty Deacon, 0429 953 365 and Henry Mackinnon, 0408 408 299
Long-term cereal yields at Petro Station have increased from about 1.3t per hectare at acquisition to a rolling three-year average of 2.9t per hectare, supported by more than 8000ha of targeted soil amelioration, including deep ripping, nutrient balancing, stubble retention and moisture protection.
Elders Real Estate are handling the sale of Petro Station, via expressions of interest with the first stage closing August 7.
“Petro Station is the outcome of best-practice farming and executional excellence on the ground,” Elders state real estate manager Victoria-Riverina Nick Myer said.
“The systems are in place, the infrastructure’s there, and the yield performance speaks for itself.
“It’s a genuine turnkey opportunity for large-scale family operators, corporate buyers or investors seeking scale and operational readiness.”
Existing infrastructure at Petro Station includes 2800t of grain and fertiliser storage, extensive hay and machinery shedding, 14 spray tanks and a 33,000-litre diesel tank.
Arumpo Road has also been recently upgraded which has significantly improved access and operational efficiency.
Accommodation includes a main homestead, two staff dwellings and an eight-room donga complex with a commercial kitchen.
The property’s tenure has also been strengthened through its conversion from Western Lands Lease to Freehold title.
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