Iconic northern Victorian cropping farm hits the market

More than $20,000 a hectare is expected for a 731ha farm, owned by a Sydney-based private equity firm, in partnership with a rural real estate guru.

Murray River Land Trust, controlled by investment managers ROC Partners, are selling the 731ha Ulupna Island Station.

A Sydney-based private equity firm, in partnership with a rural real estate guru, is selling an iconic Murray River cropping farm, which forms part of their larger 10,000ha aggregation.

Murray River Land Trust, controlled by investment managers ROC Partners, is selling the 731ha Ulupna Island Station in northern Victoria — a noted property within a broader aggregation of 60, mostly former dairy farms between Numurkah and Tocumwal in southern NSW.

Ulupna Island Station has come to market with its owners considering the property non-core within the wider portfolio given it offers significant lifestyle appeal and value, and will be seeking to reinvest the proceeds of the sale into capital projects across the core assets within the business.

Back in 2021, Murray River Land and Ulupna Pastoral Company, including the Ulupna Island Station, were placed on the market by its founders — large-scale West Australian grain grower John Nicoletti and rural property identity Danny Thomas.

Later that year it was announced ROC Partners had secured a majority stake in the enterprise, with their investment succeeding Mr Nicoletti’s ownership. Mr Thomas remained a minority shareholder following the deal.

Cropping at Ulupna Island includes 91ha developed to fixed sprinkler and flood irrigation and about 505ha of arable dryland.

ULUPNA
ULUPNA ISLAND STATION
Property: cropping
Size: 731ha
Sale: expressions of interest closing June 18
Price: in excess of $20,000 per hectare
Agent: CBRE Agribusiness
Contact: James Beer, 0416 859 565, Matt Childs, 0418 512 494 and John Harrison, 0404 335 267

The Ulupna Island Station has a renovated three-bedroom residence surrounded by established gardens, as well as an adjoining undercover entertaining area.

Ulupna Island Station, located 12km north of Strathmerton, is for sale via expressions of interest with CBRE Agribusiness, closing June 18 at 4pm.

Offers in excess of $20,000 a hectare, or more than $14.6m in total, are expected for the station as a whole, as indicated by several recent transactions in the area.

“Rarely do properties of this calibre and diversity come to market,” CBRE Agribusiness managing director John Harrison said.

“This is a landmark offering in the region. Ulupna Island Station combines highly

productive soils, reliable water access, and an enviable Murray River lifestyle, creating a truly unique investment opportunity.”

Ulupna Island Station forms part of the 10,000ha Murray River Land, Ulupna Pastoral Company of farms between Numurkah and Tocumwal in southern NSW.

“The property’s diverse agricultural capabilities, coupled with its stunning natural

surrounds and high-quality infrastructure, make it ideally suited for a variety of rural pursuits, including livestock breeding and grazing, cropping and equine enterprises,” CBRE selling agent James Beer said.

Spanning 731ha, Ulupna Island Station covers 12 titles with about 91ha developed to fixed sprinkler and flood irrigation, and about 505ha of arable dryland.

The property boasts extensive Murray River frontage and fertile soils ranging from clay to sandy loams with level to undulating topography.

Existing infrastructure at the station includes a renovated three-bedroom residence surrounded by established gardens, as well as an adjoining undercover entertaining area.

There is also an extensive workshop and machinery shedding, steel cattle yards, a treelined limestone driveway, an all-weather airstrip, and a helipad equipped with a high-flow water point.