Dutch investors Optifarm to sell Jemalong Citrus for $10m-plus

The 360ha Jemalong Citrus farm was sold as part of a $115m deal in 2019, and now it is on the market again just four years later.

A key piece of a premier NSW farm holding has hit the market almost four years after it was last sold.

The 360ha Jemalong Citrus farm is for sale with Dutch investors Optifarm looking to offload the property for more than $10m.

In 2019 Argentinian investors the Twynam Agricultural Group sold the Jemalong Station, Jemalong Citrus and Merrowie Station in a deal worth $115m.

The Netherlands-based Optifarm has acquired two of the three properties: Jemalong Station and the adjacent Jemalong Citrus.

MRA Merrowie Pty Ltd, a vehicle for US investment fund MERS Global Investments LLC, purchased the 32,730ha Merrowie aggregation.

LAWD selling agent Ian Robertson said a mix of domestic and corporate groups had already shown an interest in acquiring the farm.

He also said the farm holds a number of key interest including its prime location alongside the Lachlan River.

“Surprisingly, there are very few other citrus farms in the Forbes and Jemalong area, despite NSW Department of Primary Industries research which shows the soil, climate and rainfall patterns are very suited to citrus growing,” he said.

“The property has been designed as a specialist citrus orchard with the block layout, irrigation system and variety selection designed to produce not only quantity, but quality of fruit all season.”

The management of Jemalong Citrus was led by from Customised Farm Management (CFM).

MERS Global Investments LLC was involved in a major NSW farm purchase recently, paying more than $45m to secure the Sunland Agriculture Aggregation.

Jemalong Citrus is located 30km west of Forbes, in central NSW, and is home to 170,000 trees producing more than 10,000 tonnes of oranges a year for a juicing contract.

Jemalong Citrus was created as a separate 360ha entity in 2005 and is being marketed as a “highly productive irrigated horticultural opportunity featuring a mature citrus orchard benefited by secure water”.

The farm scored an average 2021 yield of 59 tonnes per hectare, with Hamlin, McMahon and Salustiana varieties the focus of full season production for both juicing and packing.

Jemalong Citrus is for sale via expressions of interest closing Thursday April 7, 2022.