Qld cotton farm, WA trophy estate list for $70 million combined

Offers worth about $35 million each expected for a mammoth Hong Kong company’s Qld farm and a late German doctor’s 1500ha rural estate.

Two premier rural properties, one in the heart of southern Queensland’s Macintyre River district and another trophy estate in Western Australia, have hit the market and could be worth $70 million combined.

Hong Kong stock exchange listed CK Life Sciences is selling the 4256ha Boongargil cotton farm, a large-scale irrigated and dryland cropping property located about 60km (linear) west of Goondiwindi.

Mammoth biotechnology company CK Life Sciences has developed the property to 1586ha to irrigation, including 258ha to centre pivot irrigation and 1328ha flood irrigation, as well as 1814ha of dryland cropping and the balance comprising grazing and support land.

Underpinned by water allocations include 650ML nominal volume of Border Rivers Zone B supplemented water and 1060ML nominal volume of Macintyre Zone Unsupplemented water, offers for Boongargil as a whole are expected to reach $35 million.

Boongargil was acquired by CK Life Sciences in 2016 and has been leased to the Campbell family, via GP & L Investments Pty Ltd, since.

Formerly owners of Boongargil, the Campbell family are currently leasing the property until June 2026, with two five-year renewal options.

Offers for CK Life Sciences’ Boongargil cotton farm, as a whole, are expected to reach $35 million.

LAWD agents Danny Thomas and Simon Cudmore are handling the sale of Boongargil via expressions of interest closing August 29 at 2pm.

Boongargil comprises predominantly self-mulching black-grey cracking clays with areas of red soil types, producing cotton, wheat and sorghum crops in recent seasons.

Complementing the properties additional overland flow water harvesting access, on-farm water storage, includes three main storages (9032ML combined) and various connected supply channel systems (723ML).

Earlier this month CK Life Sciences offloaded the 547ha Balranald Vineyard and associated water portfolio for a combined $40 million as GO.FARM swooped in to secure the assets.

Backed by the family of Hong Kong billionaire Li Ka-Shing, CK Life Sciences owns an Australian agriculture portfolio worth more than $2 billion including more than 110,000 hectares of broadacre farmland, orchards, cotton-growing properties and 11 vineyards via its Belvino Investments portfolio.

The estate of Dr Jorg Krone is selling Tynedale Farm, near Bunbury WA.

Meanwhile, in the opposite corner of Australia, the estate of a German doctor has listed a southwest Western Australian trophy farm for sale.

The estate of the late Dr Jorg Krone, from Berlin, is selling the Tynedale Farm, a 1500ha property located 20km inland of Bunbury.

Carved from the edge of the Wellington National Park with 10km of Collie River frontage, Dr Krone developed the property during his tenure which stretches back 40 years.

Run as a cattle property in recent years, offers worth at least $35 million are expected for Tynedale Farm which offers three houses and 14 dams across the property.

William Porteous Properties International are handling the sale of Tynedale Farm.