Reardon family to sell Worral Creek Aggregation for an estimated $400m

One of the nation’s largest irrigated cotton enterprises has hit the market with a reported nine-figure price tag. Full details here.

One of Australia’s landmark irrigated cotton farms has hit the market with a mammoth price tag.

Worral Creek Aggregation, owned by the Reardon family, is for sale via expression of interest with a reported value of around $400m.

The aggregation spans 26,855ha on the Queensland-New South Wales border and encompasses seven properties stretched between Talwood and Mungindi – making it one of Australia’s largest farming assets.

The sale also includes a portfolio of irrigation water totalling more than 65,900ML of annual entitlements.

Worral Creek Aggregation is being marketed by JLL and Oxley Capital Partners

JLL’s agribusiness director Clayton Smith said the sale is a once in a generation opportunity to acquire a multi-award winning, myBMP-certified irrigation enterprise of scale, quality, and reliability.

Worral Creek Aggregation

“With over 70,000 megalitres of on-farm water storage, excellent water infrastructure and development with an extensive suite of plant and equipment, the aggregation represents one of the most significant irrigated cotton enterprises to hit the market in recent years,” Mr Smith said.

“The level of development that has been undertaken by the Reardon family makes Worral Creek Aggregation a truly stand-alone turnkey opportunity.”

Oxley Capital Partners managing director Ben Craw said since the Reardon family acquired Worral Creek in 1990 they has funded the development of portfolio through “its internal productivity”.

Worral Creek Aggregation

“Having produced average yields of up to 14.5 bales of cotton per hectare with the water reliability enabling more than 6,200 hectares to be planted on average, the Worral Creek Aggregation represents an institutional grade asset offering truly unique production scale and water reliability within the Australian irrigated cotton market,” he said.

“The Reardon family has strategically and progressively amalgamated a total of seven properties which now collectively form the aggregation.”

The aggregation is on track to produce more than 75,000 bales of cotton this season and has the reliability to consistently achieve this annually.

The sale process will be conducted in two stages with stage one seeking non-binding offers by May 12.

The listing of the mammoth cotton farm comes after one of the biggest owners of Australian farmland listed their remaining assets for sale with a price tag of $400m.