Argyle Capital Partners selling $31.5m HK Farming portfolio at Gunbar

One of Australia’s largest agricultural investors is selling a cotton farm portfolio that could fetch more than $30m.

With Australia’s cotton industry booming, an Australian agricultural investor with more than $800 million in assets has listed a Riverina cotton farm portfolio for sale with a $30m-plus price tag.

The Australian-based Argyle Capital Partners is selling the 2456ha irrigated cotton and cereal cropping enterprise, HK Farming at Gunbar in the southwest Riverina.

The portfolio consists of 1016ha developed row crop irrigation, 1062ha red loam broadscale dryland cropping country and a three-bedroom homestead which is for sale for about $15m.

There is also an ooption to purchase part or all of the water portfolio, which has a current market value of about $16.5m.

The water portfolio consists of 5500ML Murrumbidgee General Security and 284ML Lower Murrumbidgee Groundwater Entitlements and there is 5600ML on-farm water storage.

Elders Real Estate Deniliquin selling agent Matt Horne said he expected the property to attract a range of different buyers.

The broadacre and dryland cropping farmland at HK Farming is for sale for about $15m.

“We believe the holding will appeal to family farming enterprises, corporate or with the existing management team in place, agriculture investors,” he said.

“With the cotton industry currently booming and the irrigation catchment dams replenished, HK Farming should appeal to members of the industry looking to add a turnkey farming asset.”

In 2017 Gunnedah’s Tahlee Consulting Services created a state-of-the-art irrigation design for HK Farming.

Customised Farm Management, the contracted management team currently in place at HK Farming, implemented the design through 2018, turning the property into a prized Riverina irrigation holding.

HK Farming has a water portfolio which has a current market value of about $16.5m.

Potential buyers may also be interested in further developing HK Farming as the existing dryland cropping country could possibly be used for flood irrigation development or horticultural production.

Since 2007 Argyle Capital Partners have expanded their portfolio managing more than $800m worth of Australian in water entitlements and agricultural assets.

Recently, an award-winning Darling Downs cotton farm was listed for sale and is to be auctioned next month.