John Nicoletti to sell 45,000ha Western Australian aggregation

A renowned name in Australian farming circles has put a 45,000ha aggregation on the market with a big price expected.

More than 45,000ha of prized broadacre, cropping and grazing land has become available in Western Australia after one of the states most renowned farm holders John Nicoletti listed the aggregation for sale.

The Apache Agriculture Portfolio comprises 45,057ha split across two aggregations, located in the Shires of Lake Grace and Mount Marshall, Western Australia.

No price tag or asking price has yet been set yet for the land which is located in the northeastern Wheatbelt and the heart of the Great Southern, near Newdegate, but it is expected big figures will be needed to claim it.

LAWD company director and listing agent Simon Wilkinson said the value of the land had changed significantly in the past 12 months, prompting Mr Nicoletti to make his move.

“The market value that was relevant 12 months ago, wasn’t relevant six months ago and isn’t relevant today because the market is demanding agricultural assets when it is probably at its lowest supply in history,” Mr Wilkinson said.

“That is why we are going out to the market via expressions of interest.

Apache Agriculture Portfolio.

“All the options are on the table, so if it gets broken up to locals, John is only too happy to look at that.

“Likewise, if one suitor comes in and wants to look at the whole lot, we will consider that.’

“John is open to all options.’’

Mr Wilkinson said the aggregation, which has seen significant development over the course of its lifespan, has received a lot of attention after being placed on the market this month.

“Absolutely there has been a lot of interest,” he said.

“It has been a mix of all types of interest and we have already conducted inspections and will continue to do so.”

Mr Nicoletti has spent over 50 years in the Western Australian agriculture sector, forming these land holdings.

Apache Agriculture Portfolio

Mr Wilkinson said the Apache Agriculture Portfolio was formed as an investment, with the current market conditions prompting Mr Nicoletti to seek expressions of interest.

“John is an astute investor and he has listened to what the market has wanted for several years now,’’ Mr Wilkinson said.

“Through that time, he has put quality landholdings together in preparation, because it is what the market is after, and selling now is a strategic business decision by John, who has spent over 50 years in the industry.’’

It is not Mr Nicoletti’s first sale of a major portfolio, in 2020, he sold his major broadacre eastern Wheatbelt portfolio of 203,000ha (76,000ha freehold and 134,000ha leasehold) to Saudi Arabian investment firm Saudi Agricultural and Livestock Investment Company for more than $60m.

Mr Wilkinson also said the timing of the sale of the Apache Agriculture Portfolio could be negotiable based on completing this year’s harvest.

“In collaboration with staff, John will keep farming through the process, with all options considered in relation to 2022 including proposed settlement at completion of the expression of interest period,’’ Mr Wilkinson said.

“He has all the inputs, livestock, plant and equipment so he can keep farming.”

The portfolio is being offered for sale by expressions of interest, closing on January 30, 2022 at 4pm (WST).