Paraway Pastoral Company to sell Borambil Station, Pier Pier Station and Burmah Station
An Australian pastoral company, who runs 27 pastoral enterprises across Qld, NSW and Victoria, has listed three seperate NSW farms for sale.
One of Australia’s largest pastoral landowners has listed three NSW farms spanning more than 40,000ha for sale, in one of the most valuable offerings to hit the market this year.
Macquarie Agriculture-backed Paraway Pastoral Company is selling the 14,326ha Borambil Station, 23,905ha Pier Pier Station aggregation and the 5456ha Burmah aggregation, which are located across the state’s central west and north western regions.
The properties are for sale individually, but could also be sold as a three-property portfolio which has been estimated to be worth about $180 million combined.
Paraway has decided to divest the properties after a number of unsolicited offers to purchase in the past 12 months.
LAWD senior directors Col Medway and Danny Thomas are handling the sale with Mr Thomas describing the farms as first-class properties.
“This is a marquee listing of A-grade assets which have been developed and optimised during Paraway Pastoral Company’s management,” Mr Thomas said.
Backed by Macquarie Agriculture, Australia’s second-largest landholder by value with $3 billion in assets, Paraway runs 27 pastoral enterprises across Queensland, NSW and Victoria.
Combined the company’s portfolio can run 220,000 cattle and 250,000 sheep alongside dryland and irrigated cropping ventures.
Paraway is looking to restructure its portfolio to realise some of the capital growth, which will be reinvested to further develop its business and other properties.
Borambil Station was purchased in 2008 and is primarily used for Merino sheep and lamb production and dryland and irrigated cropping.
Borambil is carrying 13,000 Merino ewes, in addition to cattle agistment with a capacity of 40,000 dry sheep equivalents (DSE).
About 780ha is developed for flood irrigation, supported by extensive water entitlements totalling 8659 megalitres.
It comprises five original properties; East Borambil, Ellerslie, Grassmere, Mooney Park and Borambil Park and is located 8km southeast of Condobolin in the Lachlan Valley.
Pier Pier Station, located near Coonamble in the NSW Western Plains, was purchased by Paraway in 2011 and comprises two non-contiguous properties referred to as Pier Pier (20,338ha) and Dynong (3567ha).
The current livestock enterprise includes a flock of 10,000 Merino ewes, as well as 1200 trade cattle, with capacity to carry 35,000 DSE.
About 5100ha is developed for dryland cropping for cereals, oilseeds and annual fodder.
An agreement with the Biodiversity Conservation Trust is in place over a portion of the property.
Burmah Station, purchased by Paraway in 2015-16, is an aggregation of four farms used for cattle breeding and finishing paired with crop and fodder production.
The property has a carrying capacity of 40,000 DSE with 2103ha used for grazing and 2773ha developed for dryland cropping.
The 580ha balance is timbered grazing and remnant timber.
The properties are for sale via expression of interest, closing Wednesday June 28 at 12pm (AEST).
Premier Victorian sheep farm snapped up
A renowned 1200ha central Victorian property has changed hands after it was offered for sale in 2022, where it was expected to fetch $30 million offers.
Read more
Aussie buyer snaps up historic outback SA station at auction
A tightly held 44,696ha pastoral property in the Far North will stay in South Australian hands after it was bought by a neighbour for millions.
Read more