$60m NSW Riverina cropping farms hit the market

A 7210ha portfolio of irrigated and dryland farmland in near Tocumwal have been listed for sale by a regenerative agriculture investor.

The 7210ha Oomabah Aggregation, near Tocumwal, NSW, has been listed for sale by Kilter Rural.

A sprawling aggregation of dryland and irrigated cropping farmland in the centre of the NSW southern Riverina is set to test the market after it was offered for sale by a regenerative agriculture and water investment group.

Kilter Rural are selling their Oomabah Aggregation which spans an expansive 7210ha, 8km west of Tocumwal, NSW.

Acquired and amalgamated by the investment group during a year-long process, Oomabah comprises five contiguous properties with a mix of land classes, including about 484ha of irrigated cropping, 5086ha of dryland cropping, 142ha of grazing and a balance of remnant vegetation and support land.

Offered for sale in one line or as separate properties via a two-stage international expressions of interest campaign, industry sources believe the aggregation could be worth $60m in total.

Irrigated production at the aggregation is supported by secure groundwater supply, inclusive of 1809ML of Lower Murray Groundwater Entitlements.

The aggregation currently consists of about 442ha of flood irrigation and 42ha of centre pivot irrigation.

The five contiguous farms comprise 5068ha for dryland cropping plus a further 484ha for irrigated cropping.

TOCUMWAL, NSW
OOMABAH AGGREGATION
Property: mixed farming
Size: 7210ha
Sale: international expressions of interest closing July 31 at 4pm (AEST)
Price: $60m
Agent: Colliers Agribusiness
Contact: Duncan McCulloch, 0416 047 484, Rawdon Briggs, 0428 651 144, Connor Dixon, 0457 489 790 and Matthew Tolmachoff, 0418 790 042

The Oomabah Aggregation was acquired and amalgamated by Kilter Rural during a year-long process.

“The Oomabah Aggregation represents a rare opportunity to acquire a large turnkey mixed cropping and grazing enterprise in a tightly held district,” Colliers national director transaction services agribusiness Duncan McCulloch said.

“Its strategic location relative to the Murray River and Murray Irrigation Limited (MIL) combined with favourable climatic conditions offers significant potential for further irrigation development.”

“Situated only three hours from Melbourne, the Oomabah Aggregation benefits from excellent connectivity via major transport routes and close proximity to key commodity processing facilities.

“The Southern Riverina region is renowned for its fertile soils and well-developed irrigation network, making it one of Australia’s most sought-after agricultural regions.”

The aggregation winter crop for this season includes 2265ha to barley varieties, 2648ha to canola and 657ha to wheat varieties, planted to what is a mix of red to sandy loams as well as some areas of heavier clay soils and grey clay loams.

Existing infrastructure includes three residential dwellings, multiple machinery sheds, storage sheds, silo storage and cattle and sheep yards.

The listing of Oomabah by Kilter Rural comes after they recently offloaded two-thirds of the properties in its 1858ha KAF Portfolio, which hit the market in November last year.

Acquired by Kilter in 2020, the portfolio was built from largely transformed dairy farms, comprising an amalgamation of 12 properties across four aggregations near Tongala and Kyabram.

Specialising in sustainable agriculture, water management and environmental protection, Kilter Rural focus on large-scale regeneration of farmland and water assets.