Australia’s biggest 100 farm sales of the past year revealed

Billions of dollars’ worth of premier Australian farmland changed hands during the 2023-24 financial year. See the full list of the top 100 sales.

Mighty North American pension funds have acquired several premium Australian farmland properties in the past year, seizing the initiative in a flattening rural property market.

Of the ten largest rural property transactions during the 2023-24 financial year, six have involved Canadian and US pension funds, including the likes of PSP Investments, Fiera Comox Partners and TIAA-CREF’s Nuveen Natural Capital, each with an investment mandate for Australian agriculture.

The most expensive deal of the past year was the recent finalised $300 million sale of the 2.9 million-hectare Kimberley Cattle Portfolio, acquired by the Alberta Investment Management Corporation (AIMCo) and their Sydney-based investment partner New Agriculture, offloaded by the Hui family.

AIMCo, with investment partner New Forests also added to their vast Lawson Grains portfolio, paying $85 million for the 13,498ha Jemalong Station near Forbes in central west NSW.

Dutch agricultural investors Optifarm, sold the Jemalong Station for $85 million last year.

Herron Todd White director Victoria-Tasmania Graeme Whyte said reduced demand in the rural property market had opened the door for corporate buyers.

“Institutional investors remain active, but are now aware that competition for certain assets appears to be easing which is allowing them to be more discerning on both asset classes and bid prices,” Mr Whyte said.

“I think it is now quite evident that the pool of potential buyers has narrowed, especially for secondary properties and properties in need of capital expenditure.

“Some of the recent highlights (in the market) include Rockthorpe in northern Tasmania, which was purchased by a large family dairy operation who, on the back of favourable dairy metrics, was able to outcompete traditional fat lamb and beef cattle producers, who in the past would have been the dominant players in the market.

“While not a sale, the $200 million investment by QANTAS Super into the GO. FARM almond play in the Riverina is a vote of confidence for the sector and shows there are alternate investment opportunities for well articulated projects with routes to returns and liquidity.”

Mr Whyte also said he expected rural property prices to remain relatively stable in the foreseeable future.

“With values having appreciated considerably in the past two-three years, there is a sense that values have now levelled out, with little room for further growth until we see the next uplift in commodity prices and/or a lower cost of capital,” he said.

“The dry autumn throughout much of Victoria has created short term concern, and is contributing to some unease among buyers. Agents are understood to be suggesting vendors hold off listing their properties until the spring, in the hope that conditions have improved by then.”

China’s Guangxi Qiutian Investment Co. Ltd purchased the historic Greystones property, near Bacchus Marsh in Victoria.

Australia’s top 100 farm sales of the past year (2023-24)

$300M-plus

KIMBERLEY CATTLE PORTFOLIO, KIMBERLEY, WA

2.9M HECTARES

Buyer: New Agriculture and Alberta Investment Management Corporation (Canada)

Seller: Yougawalla Pastoral Co and Argyle Cattle Co, Hui family (Australia-Hong Kong)

$180M (for 60 per cent stake)

ELLERSLIE FREE RANGE FARMS, MILLMERRAN, QLD

Buyer: PSP Investments

Seller: Hall family

$120M

BALLANDRY STATION, GRIFFITH, NSW

26,839 HECTARES

Buyer: Excel Farms via Nick Paterson and Fiera Comox Partners (Canada)

Seller: David Bartter

$100M (sale and leaseback, 20-year triple-net lease),

KATUNGA FRESH, KATUNGA, VIC

21 HECTARES

Buyer: Centuria Capital Group

Seller: Van der Goor family (Katunga VIC)

$90M

SUNSHINE FARMS, FORBES, NSW

14,074 HECTARES

Buyer: Nuveen Natural Capital (TIAA-CREF, USA)

Seller: AAM Investment Group

$88M

COMMINS PORTFOLIO, WHITTON, NSW

2807 HECTARES

Buyer: Marina Nine Holdings (Jacky Cheung)

Seller: Timothy and Roger Commins (Griffith NSW)

$85M

JEMALONG STATION, FORBES, NSW

13,498 HECTARES

Buyer: Lawson Grains (New Forests and Alberta Investment Management Corporation, Canada)

Seller: Optifarm (Netherlands)

$80M

GREYSTONES, ROWSLEY, VIC

4033 HECTARES

Buyer: Guangxi Qiutian Investment Co. Ltd (China)

Seller: Diana Gibson

$70M

TIMBERSCOMBE AGGREGATION, BACK CREEK, NSW

8432 HECTARES

Buyer: PSP Investments (Altora Ag, Canada)

Seller: Duxton Farms (ASX)

$60M

BORAMBIL STATION, CONDOBOLIN, NSW

14,400 HECTARES

Buyer: Elias family (Condobolin, NSW)

Seller: Paraway Pastoral Company (Macquaire Asset Management)

$55-$65M

APIS CREEK STATION, MARLBOROUGH, QLD

21,000 HECTARES

Buyer: Australian Cattle and Beef Holdings, Millungera Station, Julia Creek QLD

Seller: Tim and Lynette Olive, Marlborough QLD

$53.5M-plus

GILGAL STATION, COOTAMUNDRA, NSW

3605 HECTARES

Seller: Palgrove (NZ)

Buyer: Lukas Asset Management’s Land und Fortwirtschaft fund (Germany)

$50M

BURMAH AGGREGATION, GRAMAN, NSW

5437 HECTARES

Buyer: Gunn Agri Partners via Wilga Farming (CEFC-Australian government and CDPQ-Canada)

Seller: Paraway Pastoral Company (Macquaire Agriculture)

$48.25M

ROCKLAND SPRING, COMET, QLD

10,210 HECTARES

Buyer: Bunderra Cattle Company (Pickersgill family)

Seller: Sam and Louise Staines (Comet, QLD)

UNDISCLOSED

EURAMBEEN STATION AND GRANDVIEW, BEAUFORT, VIC

3315 HECTARES

Buyer: GO. FARM Australia

Seller: Dean family (Beaufort, VIC)

UNDISCLOSED

WELLTOWN STATION, TOOBEH, QLD

10,842 HECTARES

Buyer: Morella Ag (Coulton family, Boggabilla NSW)

Seller: Cameron family

UNDISCLOSED

TONKORO STATION, WINTON, QLD

138,200 HECTARES

Buyer: Qld Government

Seller: Peter Magoffin

UNDISCLOSED

MELROSE STATION, WINTON, QLD

73,048 HECTARES

Buyer: Qld Government

Seller: Peter Magoffin

UNDISCLOSED

VERGEMONT STATION, WINTON, QLD

352,589 HECTARES

Buyer: Qld Government

Seller: Bode family (Winton, QLD)

$45M

PICARDY STATION, DYSART, QLD

10,619 HECTARES

Buyer: Central Queensland producer

Seller: Tiverton Agriculture

$44-$54M

RUGBY RUN, MORANBAH, QLD

11,331 HECTARES

Buyer: Richard and Dyan Hughes and family, Clermont QLD

Seller: Australian Cattle and Beef Holdings, Millungera Station, Julia Creek QLD

UNDISCLOSED

ALASLEY ALMONDS, MIRROOL PARK AND TAMBA, BENEREMBAH, NSW

1275 HECTARES

Buyer: Undisclosed local farming family

Seller: Carlon family (Benerembah, NSW)

UNDISCLOSED

DOUGLAS WEST STATION, KATHERINE, NT

42,300 HECTARES

Buyer: CropScale (Coppelian Ventures)

Seller: Allan Myers KC

$36M

WANTAGONG STATION, WANTAGONG, NSW

1643 HECTARES

Buyer: Rose Grange Pastoral Company (Little River VIC)

Seller: Shaw family (Wantagong NSW)

$35M-plus

WARRANE, ARMIDALE, NSW

7489 HECTARES

Buyer: Origin Energy

Seller: Lord Michael Hintze (MH Premium Farms)

UNDISCLOSED

GUNDAGURRA, DENILIQUIN, NSW

3000 HECTARES

Buyer: Various

Seller: Russell Tait and Vicki Meyer, Deniliquin NSW

UNDISCLOSED

KEILIRA STATION, KINGSTON SE, SA

3345 HECTARES

Buyer: AJ & PA McBride

Seller: extended McBride family

UNDISCLOSED

ECHIDNA RIDGE, PINGRUP, WA

5937 HECTARES

Buyer: Excel Farms via Nick Paterson and Fiera Comox Partners (Canada)

Seller: Australian Food and Farming

$33M-plus

ARGYLE, GALONG, NSW

1708 HECTARES

Buyer: Steve Phillips, Harden NSW and Angus Metcalfe, Galong NSW

Seller: Max and Roz Graham, Galong NSW

$32.775M

CLAREVAULX STATION, GLEN INNES, NSW

3427 HECTARES

Buyer: Queensland family

Seller: McIntosh family (Glen Innes NSW)

$32M-plus

GUILDFORD AGGREGATION, BOOMI, NSW

4044 HECTARES

Buyer: Local family

Seller: John and David Oats (Boomi, NSW)

$32M

HONEYMAH AND WONGALEE AGGREGATION, BOLLON, QLD

32,000 HECTARES

Buyer: Pastoral Partners Australia (Morrison and Co, NZ)

Seller: Vaughn Houlahan, Bollon QLD

$31M-plus

BOOBEROI, TOOBEAH, QLD

3146 HECTARES

Buyer: Undisclosed

Seller: Mark Robinson (UK)

$30M-plus

STUART CREEK, ROMA, QLD

8300 HECTARES

Buyer: Queensland Investment Corporation (QIC)

Seller: Packhorse Pastoral Company

$30M-plus

KINGOWER, EMERALD, QLD

3262 HECTARES

Buyer: Queensland farming family

Seller: Mosley family, Emerald QLD

$30M-plus

LAKESIDE, WALCHA, NSW

1504 HECTARES

Buyer: Northern NSW grazier

Seller: Jackson Agriculture

$30M-plus

BOWEN PARK, TRANGIE, NSW

3250 HECTARES

Buyer: Local farming family

Seller: Miller family (Trangie NSW)

$30M-plus

FAIRHOLME AGGREGATION, CONDOBOLIN, NSW

3786 HECTARES

Buyer: Buyer: Lukas Asset Management’s Land und Fortwirtschaft fund (Germany)

Seller: Sean Duggan, Cowra NSW, and local Condobolin consortium

$30M

CONDOMINE RIVER PORTFOLIO, CHINCHILLA, QLD

4447 HECTARES

Buyer: 10 local buyers

Seller: Aberdare Collieries (CS Energy)

$30M

WEONIA AND SUNSET VALLEY, BOLLON, QLD

25,650 HECTARES

Buyer: Pastoral Partners Australia (Morrison and Co, NZ)

Seller: Clemesha family, Bollon QLD

$30M

ALLANVALE, AVENEL, VIC

1233 HECTARES

Buyer: Nick Wakim (Phoenix Lithium)

Seller: Beddison family

$30M

ROCKTHORPE ESTATE, CRESSY, TAS

784 HECTARES

Buyer: Local dairy farming family

Seller: Stuart Murfett, Cressy TAS

$26.2M

PAMEROO, ROMA, QLD

4477 HECTARES

Buyer: Reade and Jill Radel and family (Taroom, QLD)

Seller: Kadel family (Roma, QLD)

$25M-plus

AMAROO, KULIN, WA

9910 HECTARES

Buyer: Local farmer

Seller: Hodgson family (Kulin, WA)

$25M-plus

AILERON STATION AND OOLLOO FARM, ALICE SPRINGS, NT

408,662 HECTARES

Buyer: Peregrine Corporation (Shahin family, Adelaide SA)

Seller: Caason Group

$25M

NUNKERI and LOCH LOMOND, WALGETT, NSW

5015 HECTARES

Buyer: Local farming family

Seller: Wandattah Ag, VIC

$25M

SWANSEA FARM, SWANSEA, TAS

1048 HECTARES

Buyer: Fogarty Wine Group

Seller: Stahmann Webster (Canada)

$25-30M

BANNOCKBURN and TANCRED, TORRENS CREEK, QLD

82,030 HECTARES

Buyer: Southern Queensland producer

Seller: Dart family, Torrens Creek QLD

$24.75M

OAKLEIGH WEST, DALBY, QLD

611 HECTARES

Buyer: Local farming family

Seller: Stephen family (Dalby, QLD)

$24.6M

ALLAMBIE, CLERMONT, QLD

4307 HECTARES

Buyer: Dennis family, Clermont QLD

Seller: Parker family, Clermont QLD

$24M

SUNNY MEADOWS AND COLDSTREAM AIRPORT, COLDSTREAM, VIC

151 HECTARES

Buyer: Acuity Development Group

Seller: Doake family (Coldstream, VIC)

$23M

NORTH WEST NSW PORTFOLIO, QUAMBONE, NSW

12,111 HECTARES

Buyer: Various

Seller: Warren Rural Holdings

$22M-plus

RIMROCK, ROLLESTON, QLD

10,010 HECTARES

Buyer: Local family

Seller: Clark family, Rolleston QLD

$22.66M

REEDY STATION, KING ISLAND, TAS

1084 HECTARES

Buyer: Crouch family

Seller: Gunn family, King Island TAS

$21M-plus

LUCKY DIP, MOURA, QLD

2826 HECTARES

Buyer: Tim and Lynette Olive (Apis Creek Pastoral Co), Marlborough QLD

Seller: Sue and Robert Engwicht

$21M

RACEVIEW STATION, CHARLEVILLE, QLD

39,550 HECTARES

Buyer: Brock and Katrina Hindmarsh and Shane Castles and Lisa Paynter

Seller: Mellstrom family (UK)

$20M-plus

BOOROOK DAIRY HUB, COORIEMUNGLE, VIC

854 HECTARES

Buyer: Private buyer and private investor

Seller: Diprose family (Caramut, VIC)

$20M-plus

ROMA FEEDLOT, ROMA, QLD

2445 HECTARES

Buyer: McIntyre Ag (Hamish and Mary McIntyre, St George QLD)

Seller: Ben Cameron

$20M-plus

GLENEAGLES, WALCHA, NSW

2313 HECTARES

Buyer: Jason Penny

Seller: Cook family, Walcha NSW

$20M

MOUNT LONSDALE, MUNGALLALLA, QLD

8147 HECTARES

Buyer: Bryce and Lucy Moore, Randall and Tanya Ziesemer (Taroom, QLD)

Seller: Peter and Shari Knudsen (Chinchilla, QLD)

$20M

STONEHAVEN, HOLBROOK, NSW

1312 HECTARES

Buyer: NSW South West Slopes farming family

Seller: Travis and Julia Cox

$20M

MERYON AGGREGATION, WARREN, NSW

4516 HECTARES

Buyer: Farming family with Coonamble district interests

Seller: Wrigley family, Warren NSW

$20M

AMAROO KULIN, WA

9910 HECTARES

Buyer: Undisclosed

Seller: Hodgson family, Kulin WA

Almost $20M

GUNDOWRINGA AND PEJAR, CROOKWELL, NSW

1337 HECTARES

Buyer: Sydney investor

Seller: Charlie Prell (Crookwell NSW)

$18M-plus

JEMALONG, CONMURRA, SA

1211 HECTARES

Buyer: Local farming family

Seller: Wagner family, Conmurra SA

$18.5M

MORPETH, NEBO, QLD

4077 HECTARES

Buyer: Ellrott family, Morinis QLD

Seller: Brendan and Anna Black, Nebo QLD

$18.5M

KENSAL GREEN AND BRUAN PARK AGGREGATION, GUNNEDAH, NSW

713 HECTARES

Buyer: Tudgey family, Breeza NSW

Seller: Morgan family, Breeza NSW

$18M

SILVEREMERE HOLSTEINS, COWRA, NSW

371 HECTARES

Buyer: Chittick family (Gerringong NSW)

Seller: Thompson family (Cowra NSW)

$18M

NORTH BILLABONG, LITTLE BILLABONG, NSW

1089 HECTARES

Buyer: Burgess Rural (VIC)

Seller: Meurer Pastoral Company

$17M

WAIRERE, HEYWOOD, VIC

1156 HECTARES

Buyer: Crawford family, Hamilton VIC

Seller: Daniell family (NZ)

$16M

WAGABAWERING SPRING AGGREGATION, YEALERING, WA

2707 HECTARES

Buyer: Three local farming families

Seller: Hill family (Yealering, WA)

$15M-$16.5M-plus

BUNYARRA, BRIMIN, VIC

511 HECTARES

Buyer: Private family buyer

Seller: Jeff and Janet Thynne, Brimin VIC

$15M-$16.5M

SYLVANIA AGGREGATION, BOGGABRI, NSW

3480 HECTARES

Buyer: Manilla farming family

Seller: Brendon Stoney (Tumut NSW)

$15M

MALLANGANEE, GURLEY, NSW

1323 HECTARES

Buyer: Local farming entity

Seller: Estate of Douglas Chick

$15M

WOOLNORTH AGGREGATION, WOOLNORTH, TAS

700 HECTARES

Buyer: Prime Dairy (Prime Value Asset Management)

Seller: Van Dairy Group (China)

$15M

ELLENDALE, NEEDILUP, WA

2074 HECTARES

Buyer: Local family

Seller: Trevaskis family, Needilup WA

$15M

DOUGLAS SOUTH, DOUGLAS DALY, NT

55,570 HECTARES

Buyer: John and Rae Boland, Emu Hill NSW

Seller: Tony and Michelle Hayne, Douglas Daly NT

$15M

ANNABURROO STATION, POINT STUART, NT

29,010 HECTARES

Buyer: Neil Schembri, Lithgow NSW

Seller: Greg Thompson, Point Stuart NT

$15.6M

CRYNA POULTRY FARM, BEAUDESERT, QLD

58.5 HECTARES

Buyer: Amazing Investors (Sandeep Singh and Harneet Cheema, Brisbane QLD)

Seller: Montauban (Michael Gordon and Jim Goldburg)

$14M

HEATHCOTE VINEYARD PORTFOLIO, COROP, VIC

522 HECTARES

Buyer: Nuveen Natural Capital (US)

Seller: Treasury Wine Estates

$14M

LEVUKA, MITCHELLSTOWN, VIC

109 HECTARES

Buyer: Bruce Dixon

Seller: Rachel and Scott Perrin

$14.5M

CONWAYS STATION, KATHERINE, NT

139,200 HECTARES

Buyer: Wealthcheck and Viridios Capital

Seller: Conway Country Corp (Victoria)

$14.4M

BULLARORA, WINGADEE, NSW

5069 HECTARES

Buyer: Michael and Libby Kennedy, Wingadee NSW

Seller: Neighbouring syndicate

$14-$15M

KEMBAHJACUP, WA

2500 HECTARES

Buyer: Two local families

Seller: Spinks family, Jacup WA

$13.7M

BELARANORTH STAR, NSW

1506 HECTARES

Buyer: Richard Littlewood (Burringbar NSW)

Seller: Marcus and Charlotte Riddell (North Star NSW)

$12.2M-plus

MERRETT FARMS, SERVICETON (VIC, SA)

550 HECTARES

Buyer: Four various

Seller: Merrett family, Kaniva VIC

$12M

YALOKE, DENILIQUIN, NSW

2731 HECTARES

Buyer: Two local farming families

Seller: Stoney family (Minto Pastoral Company)

$12M

SUMMER HILL AND ROSEDALE NSW, CASSILIS, NSW

3310 HECTARES

Buyer: Sydney investor

Seller: Richardson family (Cassilis NSW)

$11m-plus

WYUNA AGGREGATION, GUNNEDAH, NSW

2100 HECTARES

Buyer: Two neighbouring families

Seller: Silverstrand Capital (Singapore)

$11M-$13M

DUDLEIGH AGGREGATION, STOCKINBINGAL, NSW

1054 HECTARES

Buyer: Local farming family

Seller: Morton family (Stockinbingal NSW)

$11.1M

BULLAMAKINKA, TARAWERA, QLD

2140 HECTARES

Buyer: Webster family

Seller: Celia Mackay

$10.5M

BENAHPILLIGA, NSW

3505 HECTARES

Buyer: A Walgett family

Seller: Hanigan family (Pilliga NSW)

$10.3M

HC and CG KING ESTATES, DOOEN, VIC

410 HECTARES

Buyer: Various local buyers

Seller: HC an CG King Estates

$10M-plus

MELLOOL STATION, MELLOOL, NSW

4140 HECTARES

Buyer: NSW Riverina farmer

Seller: Martin family (Mellool NSW)

$10M

ARDENTRIVE AND MAFFRA, ROMA, QLD

1796 HECTARES

Buyer: Peter and Sharon Seawright (Injune, QLD)

Seller: Peter and Karen Hancock

$9.225M

WOORILLA AGGREGATION, HILLSTON NSW

9573 HECTARES

Buyer: Three buyers

Seller: McLean family (Hillston NSW)

$9M-PLUS

BORDERTOWN VINEYARD PORTFOLIO, BORDERTOWN, SA

488 HECTARES

Buyer: CW Wines

Seller: Treasury Wine Estates

$9M

ISLEY VALE, TABLIK, VIC

175 HECTARES

Buyer: Yulong Investments (China)

Seller: Private

UNDISCLOSED

DOWAN HILL, YASS, NSW

1184 HECTARES

Buyer: Undisclosed

Seller: Ann Daniel

UNDISCLOSED

FASSIFERN & INVERINATE, ARMIDALE, NSW

3963 HECTARES

Buyer: Queensland farming family

Seller: Cameron family (Armidale NSW)