Tiverton Agriculture selling Picardy Station with $50m price tag

A Victorian agricultural fund is selling its 10,619ha Queensland farm after transforming it from a cattle station to cropping.

Picardy Station has been listed for sale by the Melbourne-based Tiverton Agriculture.

A Victorian-based agricultural investment fund has listed its 10,619ha property in Queensland, north of Emerald, for sale for the second time since undergoing a major conversion from beef to cropping.

Tiverton Agriculture Impact Fund, with headquarters in South Melbourne, has listed Picardy Station - located in Queensland’s Isaac region 10km from Dysart and about 100km north of Emerald - for sale with a $50 million price tag.

Tiverton first listed the property for sale about two years ago after it had undergone a four-year transformation.

A deal was not struck in 2021 and now the property has been listed for a second time.

During Tiverton’s tenure, the property has changed from principally a cattle breeding and finishing property to a large-scale dryland farming operation, growing sorghum, chickpeas and cover crops.

Three-quarters of Picardy Station is now dedicated to cropping after it was previously a cattle station

“Tiverton Agriculture Impact Fund invests in diversified food production assets and other businesses that align with our overall strategy of combining regenerative agriculture, biodiversity solutions and natural capital value for superior returns,” according to its website.

Launched in 2017, Tiverton owns the 4674ha Orana property in central Victoria, which is home to seasonal crops, permanent plantings via an olive grove and a sanctuary for the Eastern Bettong and Bush Stone Curlew.

It also owns the 6658ha Jamea Aggregation, located west of Dubbo at Dandaloo, after purchasing it from Orana Agriculture last year when it was on the market for more than $32 million.

At Picardy Station, 7819ha or 74 per cent has been developed for dryland cropping with the remaining 2800ha used for grazing.

LAWD senior directors Colin Medway and Danny Thomas are handling the sale, describing the property as “a unique large-scale dryland cropping and grazing enterprise”.

There is also deep self-mulching fertile soils with Cation Exchange Capacities from 27-60meq/ per 100g, which provides capacity to sequester carbon under focused management.

Earlier this week two separate first-class NSW farms hit the market where they could field offers worth $80 million-plus combined.