Grain storage facility at Moree in NSW hits market for $10 million

A grain storage facility has been listed for sale with an asking price of $10 million. It’s the second grain storage business to hit the market in the past month. See the operations here.

A grain storage facility in Moree, NSW is for sale for $10 million

A GRAIN storage facility in Moree has been listed for sale with an asking price of about $10 million.

The 10ha facility contains five storage sheds with the capacity to store up to 85,000 tonnes of grain.

Selling agent Henry Mackinnon from Colliers International told The Weekly Times it was a unique sale and that good autumn rainfall had meant there was considerable crop in the ground – but the northern NSW wheat belt was in need of more rain after a dry June.

“Despite the lack of rain in June it is no doubt going to be a better harvest than the last two years making this asset quite attractive to local producers and institutional investors,” Mr Mackinnon said.

He said the changing world trading environment meant that grain might have to be stored this season to maximise returns.

“Grain growers could form a consortium to buy this facility, storing their grain there, and allowing them marketing flexibility,” he said.

“If it was a single bigger grower, they could use the storage for themselves and then store other farmers’ grain in addition to earn income.”

It comes just weeks after Peaco, a grain storage facility in Donald, hit the market with an asking price of $8.5 million.

Peaco is a publicly listed company and the business as well as its facilities are for sale.

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