Cowal Agriculture to sell its Emerald aggregation for $120m-plus

The spring rural property market has stepped up a notch with the listing of this huge irrigated cropping aggregation with significant water entitlements.

A huge irrigated cropping aggregation with a price tag of more than $120 million is the latest in a string of high profile rural property offerings this spring.

Cowal Agriculture, which is affiliated with the US-based Global Endowment Management, has listed its 5976ha portfolio near Emerald in Queensland’s Central Highlands region.

The portfolio comprises six properties – the 3211ha Brayland, the 1020ha Parker, the 586ha Lochiel, the 330ha Nyang, the 418ha Orana and the 411ha Trawalla – in two contagious landholdings to the northeast and northwest of Emerald.

The properties are currently used for the production of high-yielding crops including cotton, sorghum, wheat, chickpeas and mung beans, and boast 3549ha of row cropping land, 270ha of bankless channel country and 144ha of centre-pivot irrigation, as well as areas suitable for dryland cropping.

The portfolio has a 12km frontage to the Nogoa River and is serviced by Fairbairn Dam. Water entitlements include 27,157 megalitres of medium-priority water and 5336 megalitres of unsupplemented water. There’s on-farm storage that can hold 7900 megalitres of water.

Selling agents LAWD said there were future growth opportunities for the parts of the aggregation, with some of the land suitable to permanent horticulture.

The portfolio is being offered for sale by expressions of interest closing on December 2.

The Cowal Agriculture land joins a crowded spring rural property market that already includes:

$350 MILLION: Corinella Group, VIC and SA – 22,500ha. Offered by Proterra Investment Partners (US).

$230 MILLION: Walhallow and Amunge Mungee Stations, Daly Waters NT – 1.3 million hectares. Offered by Brett Blundy Retail Capital (Bahamas).

$150 MILLION: Lake Boga aggregation, Lake Boga VIC. Offered by Aware Super.

$122 MILLION:Shenhua aggregation, Gunnedah NSW – 16,570ha. Offered by Shenhua Group (China).

$80 MILLION-PLUS:Ballandry Station, Griffith NSW – 26,945ha. Offered by the Bartter family.

$70 MILLION-PLUS: Kalanga Aggregation, Goondiwindi QLD – 12,840ha. Offered by Hancock Natural Resource Group (US).

$70 MILLION: Woorndoo aggregation, Lake Bolac VIC – 3353ha. Offered by LagunaBay Agricultural Fund.

$60 MILLION-PLUS: Evergreen Farms, Emerald QLD – 3793ha.

$60 MILLION: Yarrabee Park, Morundah NSW – 11.260ha. Offered by goFARM.

$60 MILLION: Picardy Station, Dysart QLD – 10,619ha. Offered by Tiverton Agriculture.

$45-$50 MILLION: Sunland aggregation, Hillston NSW – 1716ha. Offered by the Watson family.

$40-$50 MILLION: Cobran Station, Hay NSW. Offered by TIAA-CREF (US).

$35 MILLION: Bellevue and Nychum stations, Chilagoe QLD – 210,000ha. Offered by the Burton-Taylor family.

$30 MILLION-PLUS: Darialda, Holbrook NSW – 1435ha. Offered by the Burgess family.