Premier Tassie farm tipped to sell for more than $37,000 a hectare

A Victorian dairy fund manager has listed a 747ha Tasmanian farm, which could be worth more than $27 million.

The rolling countryside of Rocky Cape in northwest Tasmania is home to a sprawling aggregation of prime cropping and grazing land comprising five individual farms, all with their own water and, in most cases, their own residences.

Kings Park, at Montumana, is currently focused on livestock and fodder production, but has previously been used for dairying, cropping and vegetables.

Consisting of 24 contiguous titles, the property is offered either as a whole or in separate lots.

Located 24km west of Wynyard, Kings Park is owned by Melbourne-based fund manager Prime Value Asset Management, but a shift in business priorities has now prompted its sale.

Prime Value investment analyst Harrison Stewart said the company already owned a large dairy aggregation near Smithton and the intention had been to use Kings Park to house young stock.

Prime Value Asset Management are selling their 747ha mixed-farm, Kings Park, at Montumana, Tasmania.

MONTUMANA, TAS
KINGS PARK
Property: mixed farming
Size: 747ha
Sale: expressions of interest
Price: offers more than $37,065 a hectare
Agent: Nutrien Harcourts Tasmania
Contact: Tony Maguire, 0417 101 392

Kings Park ran replacement dairy heifers and produced hay and silage on its red basalt soils for Prime Value’s nine dairy farms.

However, the property’s rich potential as a mixed farming operation had swayed its thinking.

“You could grow potatoes or other crops, fatten cattle or start dairying given we’ve reorganised paddock sizes, installed new troughs and renovated fencing,” Harrison said.

“It’s a unique part of Tasmania with its fertile soil, green hills and proximity to the coast – what I’d call ‘natural capital’.”

Farm operations manager Gavin Beaumont said the property now ran replacement dairy heifers and produced hay and silage on its red basalt soils for Prime Value’s nine dairy farms.

“We have 1200 young heifers plus 860 two-year-olds and normally turn off around 4000 bales of fodder annually,” Gavin said.

“We could probably run more, depending on the season.

“Pastures are mainly perennial rye-grass and white and red clover with some remnant plantain, boosted by regular fertilisers and strict rotations.”

At Kings Park infrastructure includes five homes and two cottages, two disused dairies with yards, hay sheds and silos.

In an area which receives annual average rainfall of 988mm, water is supplied from on-farm dam storage and the Detention River, with five water licences and 27 allocations combining for a total of 1571 megalitres.

There are seven centre pivot systems plus underground mains with hard hose irrigation.

“From a farmer’s point of view, the pastures offer high-quality milking feed on the irrigated land and even the dryland produces a lot of feed,” Gavin said.

Selling agent Tony Maguire said Tasmania’s two international vegetable processors created opportunities for growing crops, while dairy was supported by two nearby processors and beef producers well-served with Greenham’s processing plant nearby.