Four-farm NSW aggregation to receive $30 million offers

A mixed farming property of almost 3500ha, which was once part of the collapsed Ceres Agriculture portfolio, has been listed for sale.

A four-farm aggregation, which was formerly part of one of the largest beef and cropping aggregations in NSW, has been listed for sale.

The Michel family are selling the 3497ha Postmans Aggregation, located north of Warialda, in the North West Slopes region of NSW.

Owned by vendors Alistair and Kristy Michel for several years, the Postmans Aggregation comprises parcels Postmans, Brentwood, Yarran and Yarran West, which were part of the collapsed Ceres Agriculture.

Placed into voluntary administration in 2019, Ceres Agriculture once held a portfolio of 15 properties across 33,000ha in NSW, owned by Pegala Pty Ltd.

In the following years Ceres Agriculture then carved off the 9300ha Brudle Park, at Moree, to Macquarie’s Viridis Ag, while Allied Beef purchased the historic Gunyerwarildi aggregation in 2021.

The Michel family are selling the 3497ha Postmans Aggregation near Warialda following several years of ownership.

Offers worth about $30 million are expected for the Postmans Aggregation, with expressions of interest closing July 11.

Mr Michel said his Postmans Aggregation was experiencing a perfect season, with 62 per cent under dryland cultivation and 1540ha of barley, 140ha of feed barley, 36ha oats and lucerne and 172ha of fallow planned for the year ahead.

“We’ve certainly had one of our best ever starts to the year, and the aggregation has a good mix of soil types that provide options for planting windows for farming,” Mr Michel said.

“There’s plenty of opportunity because it’s suited to a mix of farming or grazing for sheep and cattle, and it’s a good safe area for rainfall and temperature.”

At the Postmans Aggregation, 2168ha are cropped while more than 1300ha are used for grazing pursuits.

The Michel’s livestock enterprise is currently running 590 mixed breeders and 630 yearling trade cattle to use excess feed on the grazing land, which includes 465ha of improved pastures and 848ha of native grasses.

Estimated carrying capacity is 21,000 dry sheep equivalent.

Across the aggregation there are three houses including the recently renovated four-bedroom Brentwood Homestead, a three-bedroom house at Yarran, and the historic circa 1880 three-bedroom Postmans Homestead boasting hand-built stone walls, which would benefit from renovation.

The sale of the aggregation is being handled by LAWD directors George Barton and Simon Cudmore.

Elsewhere in northern NSW, a Singaporean family office has sold about 2100ha of farmland among two buyers, while relisting the remaining 2840ha for sale at $19.5 million.