Cubbie Station, Shenhua Aggregation and Milton Downs: Australia’s biggest farm sales of 2022

From $10 million to $380 million, our comprehensive list reveals the biggest farm sales of 2022 – including the buyers and sellers behind the deals.

After two years of white hot demand for Australian rural property, rising interest rates, increasing input costs and widespread flooding across southeastern Australia stabilised farmland prices at record levels.

In 2020 and 2021 prices soared with double digit growth and while that trend continued in the first half of this year, price growth flattened through winter and into spring.

Despite increased economic uncertainty, buyers have remained willing to pay record land prices in many regions across all asset classes with family and corporate investors looking to increase their existing holdings.

But despite demand for rural property falling from peak levels, Elders Real Estate Victoria and NSW Riverina rural real estate manager Nick Myer said quality properties were still achieving excellent results.

“There are certainly instances where the market is approaching with greater caution based on underlying seasonal and economic fundamentals, however good quality assets are continuing to perform well,” he said.

“There have been some outstanding results recorded across all asset classes with the long term outlook for agriculture remaining strong.”

The Braitling family’s Mount Doreen station was sold to Australia’s largest private landholders, Viv Oldfield and Donny Costello, this year.

Some of the biggest sales of the year include Mark Menegazzo selling the 1.1 million-hectare Gulf Coast Agricultural Co to major NSW cotton growers Peter and Jane Harris in a deal worth about $380 million while Australia’s largest family owned wine company, Casella, also sold 35 of its vineyards to Canadian super fund giant PSP Investments via wine subsidiary Southern Premium Vineyards.

Australia’s richest person Gina Rinehart, via Hancock Agriculture and S.Kidman Cattle Co, also made some major moves this year, selling a huge portfolio of cattle stations and relinquishing her title as the nation’s largest private landholder.

In the past 12 months Ms Rinehart has sold 10 properties and is close to selling four more.

“Consistent with the recent redirection of the agricultural portfolio within S.Kidman and Co and Hancock Agriculture, the companies have the intention to divest Brunchilly Station on the Barkly Tablelands in the Northern Territory and Glengyle, Durrie and Naryilco Stations in Queensland’s southwest,” Hancock Agriculture and S. Kidman Cattle Co acting chief executive Adam Giles said at the time in a statement.

“Discussions are advanced in regards to this process.”

The title of Australia’s largest private landholder was claimed by Northern Territory friends Viv Oldfield and Donny Costello and their Crown Point Pastoral Company.

In the past 12 months they have acquired Macumba Station (1.1 million hectares), Innamincka Station (1.36 million hectares) and the Phoenix Park feedlot (3443ha) from Ms Rinehart while also purchasing Mount Doreen Station (730,000ha) from the Braitling family.

A number of Australian farming families also paid big dollars this year to expand their holdings.

US-based Proterra Investment Partners sold their Vaucluse Estate to a New Zealand family this year.

One of Australia’s cattle kings, Peter Hughes and his family purchased Ms Rinehart’s Victoria River region Riverin and Inverway stations (550,000ha) for about $100 million and paid about $15-16 million for the Amberkolly Station near Collinsville in Queensland.

The Pickersgill family also made two major acquisitions, purchasing Aldinga Park (35,448ha) in Queensland’s Carnarvon Ranges and the Neutral Junction station (460,900ha) near Davenport, NT for about $70 million combined in separate deals.

Finally, a number of high profile international investors sold Australian farms including Shandong Ruyi, which offloaded their 51 per cent stake in Cubbie Station to Macquarie Assets Management.

Proterra Investment Partners also sold Vaucluse Estate (4448ha) in Tasmania for more than $100 million while China’s Shenhua Group sold their 16,500ha NSW aggregation among 13 Australian buyers for $120 million-plus

Australia’s biggest farm sales of 2022

$380 MILLION
GULF COAST AG CO, YAGOONYA QLD
1.1 MILLION HECTARES
Buyer: Harris family, Carinda NSW
Seller: Mark Menegazzo

UNDISCLOSED
CUBBIE STATION, DIRRANBANDI QLD
90,000 HECTARES
Buyer: Macquarie Asset Management (purchased remaining 51 per cent stake)
Seller: Shandong Ruyi

UNDISCLOSED
CASELLA VINEYARDS, GRIFFITH NSW AND BAROSSA VALLEY SA
7258 HECTARES
Buyer: PSP Investments (Southern Premium Vineyards)
Seller: Casella Family Brands

$150 MILLION-$175 MILLION
MARYFIELD AND LIMBUNYA, VICTORIA RIVER NT
660,000 HECTARES
Buyer: Wealthcheck and AAM Investments
Seller: North Star Pastoral

$150 MILLION
WEE WAA AGGREGATION, WEE WAA NSW
6860 HECTARES
Buyer: Gina Rinehart-Hancock Agriculture
Seller: Findley family, Wee Waa NSW

The Coulton family from Boggabilla in NSW finalised its purchase of a 12,840ha aggregation near Toobeah in Queensland.

$120 MILLION-PLUS
SHENHUA AGGREGATION, LIVERPOOL PLAINS NSW
16,500 HECTARES
Buyer: 13 buyers
Seller: Shenhua Group

$120 MILLION-PLUS
COWAL AGRICULTURE, EMERALD QLD
5976 HECTARES
Buyer: Macquarie Asset Management
Seller: Global Endowment Management

$100 MILLION-PLUS
MILTON DOWNS, MOREE NSW
19,060 HECTARES
Buyer: Local family
Seller: Ron Greentree

$100 MILLION-PLUS
PLUMTHORPE STATION, BARRABA NSW
11,323 HECTARES
Buyer: O’Brien family, Newcastle NSW
Seller: Various

$100 MILLION-PLUS
VAUCLUSE ESTATE, CONARA TAS
4448 HECTARES
Buyer: Spencer family, NZ
Seller: Proterra Investment Partners

$100 MILLION
RIVERIN AND INVERWAY STATIONS, VICTORIA RIVER NT
550,000 HECTARES
Buyer: Hughes family, Nebo QLD
Seller: Gina Rinehart-Hancock Agriculture

UNDISCLOSED
MACUMBA STATION, OODNADATTA SA
1.1 MILLION HECTARES
Buyer: Crown Point Pastoral Company (Viv Oldfield and Donny Costello)
Seller: Gina Rinehart-Hancock Agriculture

UNDISCLOSED
INNAMINCKA STATION, INNAMINCKA SA
1.36 MILLION HECTARES
Buyer: Crown Point Pastoral Company (Viv Oldfield and Donny Costello)
Seller: Gina Rinehart-Hancock Agriculture

UNDISCLOSED
PHOENIX PARK FEEDLOT, KATHERINE NT
3443 HECTARES
Buyer: Crown Point Pastoral Company, Viv Oldfield and Donny Costello
Seller: Gina Rinehart-Hancock Agriculture

About $96 MILLION
NARWIETOOMA STATION AGGREGATION, PLENTY NT
1.1 MILLION HECTARES
Buyer: PSP Investments (Hewitt Cattle Australia)
Seller: Tim and Emily Edmunds, Spring Gully SA

$80 MILLION-PLUS
UPTON FARMS, NOWENDOC AND NIANGALA NSW
2668 HECTARES
Buyer: Rea family, Mackay QLD
Seller: Upton family, Niangala NSW

$80 MILLION
KALANGA COTTON AGGREGATION, GOONDIWINDI QLD
12,840 HECTARES
Buyer: Coulton family, Goondiwindi QLD
Seller: Hancock Agricultural Investment Group

Vaucluse Estate.

$71 MILLION
MACADAMIA ENTERPRISES, BUNDABERG QLD
344 HECTARES
Buyer: Nuveen Natural Capital
Seller: Manera family, Bundaberg QLD

$70 MILLION-PLUS
SEDGEFORD, ALPHA QLD
48,370 HECTARES
Buyer: David and Gina Kane, Charters Towers QLD
Seller: Teys family, Alpha QLD

$70 MILLION
SPRINGVALE STATION, KIMBERLEY WA
604,430 HECTARES
Buyer: Andrew and Nicola Forrest-Harvest Road
Seller: Yeeda Pastoral Co

$70 MILLION
MOUNT DOREEN STATION, LAKE MACKAY NT
730,000 HECTARES
Buyer: Crown Point Pastoral Company-Viv Oldfield and Donny Costello
Seller: Braitling family, Lake Mackay NT

$70 MILLION
ACE DAIRY GIPPSLAND PORTFOLIO, FISH CREEK, MAFFRA AND HEYFIELD VIC
SEVEN FARMS
Buyers: Four buyers
Seller: Ace Dairy Holdings

$63 MILLION
KOOBA AG HAY AGGREGATION, HAY NSW
19,896 HECTARES
Buyer: JHW Patterson and Son
Seller: PSP Kooba Ag

$62.5 MILLION
AUSTRALIAN VINTAGE LTD, POMONA NSW AND LOXTON SA
1300 HECTARES
Buyer: Warakirri Farmland Fund
Seller: Australian Vintage Ltd

Yarrabee Park.

$60 MILLION-PLUS
YARRABEE PARK, MORUNDAH NSW
11,260 HECTARES
Buyer: PSP Investments (Daybreak Cropping)
Seller: GoFARM Australia

$55 MILLION-PLUS
KENTUCKY BLUE AND THE FLAGS, NIANGALA NSW
3645 HECTARES
Buyer: Undisclosed
Seller: Max and Jenny Mawhinney, Niangala NSW

$55 MILLION
MOOLAN DOWNS, DALBY QLD
10,029 HECTARES
Buyer: Packhorse Investments

$50 MILLION-PLUS
BECTIVE STATION, TAMWORTH NSW
4053 HECTARES
Buyer: AAM Investment Group
Seller: Vickery family, Tamworth NSW

$48 MILLION
JIMARNDY AGGREGATION, MAY DOWNS QLD
17,600 HECTARES
Buyer: Consolidated Pastoral Company
Seller: Simon family, May Downs QLD

$45 MILLION-PLUS
SUNLAND AGGREGATION, HILLSTON NSW
1747 HECTARES
Buyer: MERS Global Investments LLC
Seller: Tim and Sally Watson, Hillston NSW

$45 MILLION
COOLONG PASTORAL PORTFOLIO, HAY AND BOOLIGAL NSW
51,000 HECTARES
Buyer: Various
Seller: Crichton-Brown family

$40 MILLION-PLUS
ALDINGA PARK, CARNARVON RANGES, QLD
35,448 HECTARES
Buyer: Pickersgill family, Comet QLD
Seller: Terry and Catherine Piggot, Carnarvon Ranges QLD

$40 MILLION
LANCELIN PORTFOLIO, LANCELIN WA
11,100 HECTARES
Buyer: VIMG
Seller: Family of Joseph Matthews (USA)

$32 MILLION-$40 MILLION
BALFOUR DOWNS, PILBARA WA
634,000 HECTARES
Buyer: Andrew and Nicola Forrest- Harvest Road
Seller: Xingfa Ma

$35 MILLION-$40 MILLION
ROSSANDER PORTFOLIO, WARRNAMBOOL VIC
954 HECTARES
Buyer: Various
Seller: Anderson family, Warrnambool VIC

$35 MILLION-PLUS
BANGADILLY STATION, SUTTON FOREST NSW
1815 HECTARES
Buyer: Jing Wang
Seller: Kim and Ben Cottle

$33 MILLION-PLUS
WITHERS AGGREGATION, BERRIGAN NSW
2448 HECTARES
Buyer: Local buyer
Seller: Withers family, Berrigan NSW

$32 MILLION
KULUMUR, EMERALD QLD
14,131 HECTARES
Buyer: Central Queensland farming family

$30 MILLION-PLUS
PUNARI, OAKBROOK AND TARATAP, KINGSTON SA
2900 HECTARES
Buyer: Local interests
Sellers: Bruce and Debbie Nulty and Lachie Stewart, Kingston SA

$30 MILLION
LAKE BOGA AG PORTFOLIO, LAKE BOGA VIC
9000 HECTARES
Buyer: goFARM Australia
Seller: Aware Super

$30 MILLION
NEUTRAL JUNCTION STATION, DAVENPORT NT
460,900 HECTARES
Buyer: Pickersgill family, Comet QLD
Seller: Frith family, Roma QLD

$30 MILLION
TULOONA PASTORAL, HARROW VIC
2500 HECTARES
Buyer: Local family
Seller: Craig family, Adelaide SA

$30 MILLION-$35 MILLION
RED RANGE AND LAUREL DOWNS, TAROOM QLD
5452 HECTARES
Buyer: Sid Godwin, Springsure QLD
Seller: Doug and Jan Bradshaw, Taroom QLD

$28.9 MILLION
BAN BAN SPRINGS, DARWIN NT
187,300 HECTARES
Buyer: Corporate Carbon
Seller: Nico Botha and the Bolkland family

$28 MILLION
WANDEEN, GUNDAGAI NSW
2056 HECTARES
Buyer: family grazing interests in the district
Seller: Nicholls family

$25 MILLION-PLUS
WILLAH, BALMORAL VIC
2085 HECTARES
Buyer: Private family
Seller: Steve and Carol Huggins, Jerilderie NSW

$25 MILLION-PLUS
AUBURN STATION, AUBURN QLD
11,466 HECTARES
Buyer: Peter and Shari Knudsen, Chinchilla QLD
Seller: Ron Winestock, Auburn QLD

$25 MILLION-PLUS
TOOROORA, DIRRANBANDI QLD
6677 HECTARES
Buyer: Andrew and Jo Slack-Smith, Burren Junction NSW
Seller: Sullivan family, Dirranbandi QLD

$25 MILLION
WILGA AGGREGATION, BELLATA NSW
2116 HECTARES
Seller: MacCue family, Bellata NSW
Buyer: Local farming family

$24.55 MILLION
FINSBURY PARK, ROMA QLD
9366 HECTARES
Buyer: Dray family, Roma QLD
Seller: Mertin and Lexine Spreadborough, Roma QLD

$23 MILLION
BOX YARDS, BINALONG AND JIMBRUCE TOOBEAH, QLD
4833 HECTARES
Buyer: Golden family, Wandoan QLD

$23 MILLION
MILTON DOWNS, EAST MOREE NSW
2402 HECTARES
Buyer: Local family
Seller: Ron Greentree

$22.5 MILLION-PLUS
WYKEHAM, DUNKELD VIC
1013 HECTARES
Buyer: Anna and Michael Coughlan, Holbrook NSW
Seller: Robertson family, Dunkeld VIC

$22 MILLION-PLUS
PARADISE CREEK STATION, INVERELL NSW
2575 HECTARES
Buyer: Wilmot Cattle Company
Seller: Swan family, Inverell NSW

$22.5 MILLION
MALO, THEODORE QLD
2898 HECTARES
Buyer: Finger family, Clermont QLD
Seller: Jones family, Malo QLD

$22 MILLION
BINBROOK, LUCINDALE SA
630 HECTARES
Buyer: Local family
Seller: McWaters family, Lucindale SA

$20 MILLION-PLUS
OTTLEY STATION, GRAMAN NSW
8751 HECTARES
Buyer: Packhorse Pastoral Company
Seller: Simon and Jenny Gregson, Graman NSW

$20.7 MILLION
BYRGENNA STATION, AUGATHELLA QLD
12,648 HECTARES
Buyer: A grazing family, Alpha QLD
Seller: Ross family, Augathella QLD

$20.5 MILLION
GLENDOWER, BATHURST NSW
1394 HECTARES
Buyer: Australian farming family
Seller: Regis Resources

$18.5 MILLION
DALMALLY, ROMA QLD
5302 HECTARES
Buyer: Local interests

Undisclosed
WOODRISE, LIMESTONE COAST SA
1068 HECTARES
Buyer: undisclosed
Seller: Adelaide-based pastoral family

$17.8 MILLION
BOOROORBAN AGGREGATION, BOOROORBAN NSW
10,293 HECTARES
Buyer: Hooke family, Wanganella NSW
Seller: Thompson family, Melbourne VIC

$17 MILLION-$20 MILLION
CAMEL CREEK STATION, GREENVALE QLD
26,100 HECTARES
Buyer: Western Grazing

$17.49 MILLION
THE PATRICK, BARCALDINE QLD
16,786 HECTARES
Buyer: Dean Arnaboldi, Jericho QLD
Seller: Andrew and Annabelle Kibble, Toowoomba QLD

$17 MILLION
BENNELONG, COBRAMUNGA NSW
2008 HECTARES
Buyer: Green family
Seller: Reilly family

$17 MILLION-PLUS
BIRAGANBIL STATION, BIRAGANBIL NSW
3342 HECTARE
Buyer: Neil Werrett
Seller: Family of Eduardo Cojuangco Jr

$16.115 MILLION
GLEN EMU STATION, BALRANALD NSW
43,334 HECTARES
Buyer: Bill and Pip Ryan, Hay NSW
Seller: Mark and Lee Newnham and Robert and Andrew Hiscock

$16.05 MILLION
SOUTH BUKALONG, BOMBALA NSW
1919 HECTARES
Buyer: Private family
Seller: Garnock family, Bombala NSW

$16 MILLION
BROOKLYN, KILCOY QLD
1372 HECTARES
Buyer: Morgan family, Condamine

$16 MILLION
RHYOLA AND INVERNESS, DENILIQUIN NSW
9921 HECTARES
Buyer: Ian and Camilla Shippen Moulamein, NSW
Seller: James family, Deniliquin NSW

$16 MILLION-PLUS
LIME CREEK, HEXHAM VIC
711 HECTARES
Buyer: Melbourne-based family
Seller: Skermer family, Chatsworth VIC

$15.5 MILLION-$17.8 MILLION
MONTEGO & MOONA, UPPER HUNTER NSW
2258 HECTARES
Seller: David Murray
Buyer: grazing interests

$15 MILLION-$17 MILLION
YALANDRO, BORDERTOWN SA
1164 HECTARES
Buyer: Local landholder
Seller: Dinning family, Bordertown SA

$15 MILLION-$16 MILLION
AMBERKOLLY STATION, COLLINSVILLE QLD
14,763 HECTARES
Buyer: Hughes family, Clermont QLD

$15.7 MILLION
MIMOSA VALE, BARALABA QLD
7073 HECTARES
Buyer: Beenboona Trust
Seller: Mackenzie-Ross family, Baralaba QLD

$15 MILLION
TI CAMPBELL AND SONS, GOOLGOWI NSW
6230 HECTARES
Buyer: Central Victorian family
Seller: Campbell family, Goolgowi NSW

$15 MILLION
HK FARMING, GUNBAR NSW
2456 HECTARES
Buyer: Riverina family
Seller: Argyle Capital Partners

$15 MILLION
BOOABULA STATION, DENILIQUIN NSW
6700 HECTARES
Buyer: Local buyer
Seller: Cox family, Deniliquin NSW

$14.4 MILLION
RHONELLA PARK, GREENVALE QLD
27,000 HECTARES
Buyer: Desmond Bolton, Greenvale QLD
Seller: Pat and Delinda Sheahan, Greenvale QLD

$13.7 MILLION
CHESSINGTON, SPENCE SA
668 HECTARES
Buyer: Local family
Seller: Treloar family, Spence SA

$13.35 MILLION
DOOGALOOK, MEANDARRA QLD
3327 HECTARES
Buyer: Dales family

$13.1 MILLION
PERONNE STATION, HUGHENDEN QLD
9788 HECTARES
Buyer: Doug and Helen Keough, Einasleigh QLD
Seller: John and Ann-Marie Cowan, Hughenden QLD

$13 MILLION
BUNNABUKBUK, ADELONG NSW
907 HECTARES
Buyer: Litchfield family, Cooma NSW
Seller: Barton family, Adelong NSW

$12.9 MILLION
HILL VIEW, HILL RIVER SA
735 HECTARES
Buyer: Jaeschke family, Clare SA
Seller: Kym and Donald Martin, Hill River SA

$12.05 MILLION
CRONIN PASTORAL AGGREGATION, TRUNDLE NSW
2592 HECTARES
Buyer: Various
Seller: Trundle family

$12 MILLION-PLUS
PINE HILL DAIRY, LABERTOUCHE VIC
372 HECTARES
Buyer: Private Australian global investor
Seller: Property developer

$12 MILLION-PLUS
CRYSTALBROOK STATION, HUGHENDEN QLD
33,900 HECTARES
Buyer: McClymont family

$12 MILLION
WATSON RIVER, WEIPA QLD
89,000 HECTARES
Buyer: Corporate Carbon
Seller: Cameron and Doreen Quartermaine, Weipa QLD

$11.25 MILLION
TIMOR CREEK, MURRURUNDI NSW
1679 HECTARES
Buyer: Sydney investor

$11 MILLION
CARMICHAEL, PENTLAND QLD
21,500 HECTARES
Buyer: Local interests

$10.85 MILLION
MORABY, CONDAMINE QLD
2688 HECTARES
Buyer: Local interests
Seller: David and Michael Rayner, Condamine QLD

$10.5 MILLION
TOORACOLL AND WOOLAWAY, JUGIONG NSW
955 HECTARES
Buyer: Sydney investor
Seller: Bill and Pip Ryan, Hay NSW

Undisclosed
DALVUI HOMESTEAD, TERANG VIC
227 HECTARES
Buyer: undisclosed
Seller: Habersberger family

$10 MILLION-PLUS
MALLEE CROPPING PORTFOLIO, NORMANVILLE VIC
1400 HECTARES
Buyer: Undisclosed
Seller: Merriwa Pastoral Company

$10.1 MILLION
ELIMATTA, WALGETT NSW
2061 HECTARES

$10 MILLION-PLUS
WOMBOIN STATION, NYNGAN NSW
13,591 HECTARES

About $10 MILLION
TORRENSVILLE BRINGENBRONG NSW
272 HECTARES
Buyer: undisclosed
Seller: Riverina family

$9.6 MILLION
ERIWAH AND GUM CREEK, CARRATHOOL NSW
6103 HECTARES
Buyer: Jim and Jane Ives and Mick and Stephanie Cattanach
Seller: Cameron and Therese Townsend

$9 MILLION
HILLSIDE, YOUARANG VIC
481 HECTARES
Buyer: Burramine farming family
Seller: Lawrence family

$8-$9 MILLION
WYRUNG-ATTUNGA, TARCUTTA NSW
904 HECTARES
Buyer: Sydney-based buyer
Seller: Bill and Pip Ryan