Proterra Investment Partners sell Vaucluse Estate

One of Tasmania’s finest farms has been sold by a US-based investment company for a whopping sum. Read all the details.

One of Tasmania’s finest farms, a whopping 4448ha Tasmanian aggregation owned by US-based investment firm Proterra Investment Partners, has been sold for more than $100 million.

In a deal settled this week, an undisclosed buyer due to confidentiality, has purchased Vaucluse Estate.

It is understood the deal includes the 10-bedroom Vaucluse Homestead, five-bedroom Glen Esk Homestead and farming assets, including water entitlements.

In March, Proterra Investment Partners listed $400 million worth assets for sale, signalling their intention to exit Australian agricultural investment for the time being.

However, the North American investment company has withdrawn their other two aggregations from the market which were also listed for sale at the time; the 23,594ha One Tree and 14,425ha Racecourse portfolio spread across Queensland and northern NSW.

Vaucluse Estate in Tasmania has been sold for more than $100 million.

In 2015 Proterra purchased Vaucluse for about $20 million when it was just over 2600ha, but it has since almost doubled in size to include several neighbouring titles.

Located on the banks of the South Esk River at Conara, within the Northern Midlands region of Tasmania, Vaucluse has been home to a mixed merino and cropping enterprise.

There is 9km frontage to the South Esk River with 15,273ML water entitlements, supported by pumping infrastructure and constructed 9052ML water storages.

Crops produced at Vaucluse include poppies, potatoes, hemp, carrot seed, cereals, oilseed and legumes.

The striking and recently refurbished circa-1830 Vaucluse Homestead is the centrepiece of the property.

Further accommodation includes the circa-1832, five-bedroom Glen Esk Homestead, manager’s dwelling, two cottages and office.

18km from the Vaucluse Portfolio itself and 28km from Launceston, the Powranna Grain Storage Facility, which has a capacity of 5424 tonnes was also sold as part of the deal.

LAWD director Elizabeth Doyle handled the sale.