Australia’s 20 biggest farm sales of 2020 reveals a foreign affair as a scramble for land heats up

Australia’s 20 biggest farm sales of 2020 have raked in a whopping $2.3 billion. Our investigation reveals the details behind each sale – including which foreign investors have secured the most land.

Banongill Station at Skipton is one of the 20 biggest farm sales this year.

AUSTRALIA’S 20 biggest farm sales of 2020 have raked in a whopping $2.3 billion as demand for rural property defies a weaker global economy.

A special The Weekly Times investigation has shown that of the biggest farmland deals nationally this year, four have exceeded a $100 million with another seven topping $60 million.

The buyer charge has been led by PSP Investments, the investment vehicle for the world-famous Royal Canadian Mounted Police, who has shelled out about $1.05 billion in four of the largest transactions of the year.

PSP, which manages the superannuation funds of Canada’s public service, armed forces and the 30,000 member-strong mounted police, has risen rapidly through the ranks in recent years to now be Australia’s biggest investor in farmland and water.

Its most high-profile transaction so far this year was its $854 million takeover in February of the ASX-listed Webster Limited – Australia’s fourth-oldest company and one of the nation’s biggest landholders.

PSP also paid $97 million for the 22,000ha Erregulla Plains property at Mingenew in Western Australia, through its Daybreak Cropping business, and more than $55 million for a 2513ha slice of the Gray Wigg Pty Ltd dairy portfolio at Nambrok, in Victoria’s Gippsland region, via its Aurora Dairies business.

PSP also secured an aggregation of Best Global Food Company properties around Mt Gambier in South Australia for $40.4 million.

Another major investor featuring prominently among buyers this year has been the US-based Hancock Agricultural Investment Group, who has splashed out $218 million securing two of the nation’s most expensive farms.

In January HAIG paid Harvard University’s endowment fund $120 million for its 19,877ha Wyadra and Cowl Cowl properties at Hillston in NSW and in August bought the 3841ha Mooral almond property, also at Hillston, from the ASX-listed Rural Funds for $98 million.

Other significant rural property transactions this year have included the $300 million takeover bid by Macquarie Infrastructure and Real Assets of the ASX-listed Vitalharvest, which owns citrus orchards and berry farms leased to horticulture giant the Costa Group, and almond producer Select Harvest’s $129 million play for United Almonds Limited’s Piangil almond orchard in northwest Victoria.

THE 20 BIGGEST FARM SALES OF 2020:

1. $854 MILLION

Sale of agribusiness giant Webster Limited to Canada’s Public Sector Pension Investment Board. Finalised in February.

2. $300 MILLION

Macquarie Infrastructure and Real Assets launched a takeover bid for the ASX-listed Vitalharvest, which owns citrus orchards and berry farms leased to horticulture giant the Costa Group.

3. $129 MILLION

Almond producer Select Harvests made an offer to purchase the Piangil Almond Orchard in northwest Victoria from United Almonds Limited.

4. $120 MILLION

Boston-based Hancock Agricultural Investment Group purchased the 19,877ha Wyadra and Cowl Cowl properties at Hillston in NSW from Harvard University’s endowment fund.

5. $98 MILLION

US-based Hancock Agricultural Investment Group purchased the 3841ha Mooral almond property from the ASX-listed Rural Funds Group.

6. $97 MILLION

Canadian PSP Investments purchased the 22,000ha Erregulla Plains property at Mingenew in Western Australia through its Daybreak Cropping business.

7. $81 MILLION

ASX-listed Rural Funds Group purchased 5409ha of sugar cane farms near Bundaberg in Queensland from MSF Sugar, which will be converted into macadamia production.

8. $80 MILLION

Laguna Bay Agricultural Fund offloaded the historic 8200ha Banongill Station near Skipton in the Victorian Western District to a local consortium of farming families.

9. $70 MILLION

The Langenhoven family of Rallen Australia purchased the 559,370ha Tanumbirini and Forest Hill stations near Katherine in the Northern Territory.

10. $60 MILLION

Chinese company Harvest Agriculture purchased the 5071ha Yaloak Estate at Ballan, near Melbourne.

11. $60 MILLION

North Australian Pastoral Company purchased the 134,000ha Mantuan Downs Station near Springsure in Queensland from pastoral giant Clark and Tait.

12. $55 MILLION-PLUS

Dairy giant Gray Wigg Pty Ltd sold 2513ha around Nambrok in Gippsland to Canada’s Public Sector Pension Investment Board through its Aurora Dairies business.

13. $53 MILLION

Cloncurry’s McMillan Pastoral Company purchased the 705,198ha Wollogorang and Wentworth station in Queensland’s Gulf country from Chinese interests.

14. $50 MILLION-PLUS

US teacher superannuation fund TIA-CREF sold seven farms around Henty, Culcairn and Walbundrie in southern NSW totaling 4174ha to various local farmers.

15. $42 MILLION

Primewest purchased the 385ha Lamattina celery farm on Victoria’s Mornington Peninsula in a sale-leaseback deal.

16. $40.4 MILLION

Sale of Beston Global Food Company properties in South Australia to Canada’s Public Sector Pension Investment Board through its Aurora Dairies business. June.

17. $40 MILLION-PLUS

Anthony and Jane McMillan from McMillan Pastoral Company purchased the adjoining Roxborough Downs and Mudgerebar stations, totaling 423,494ha, near Boulia in Queensland.

18. $38.5 MILLION

The adjoining Narwietooma, Derwent and Glen Helen stations near Alice Springs in the Northern Territory were purchased by Tim and Emily Edmunds.

19. $35 MILLION

Sam Daniels from Escott Station purchased the 97,500ha Nardoo Station northwest of Cloncurry in a deal that include more than 5800 cattle.

20. $30 MILLION-PLUS

Billionaire mining magnate Twiggy Forrest snapped up the 221,408ha Jubilee Downs property near Fitzroy Crossing in Western Australia’s Kimberley district.

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