WA farm snapped up by local family for $50m-plus

A Malaysian-based family, famous for their tea company, has sold a 5300ha cropping and sheep farm in southern WA. See the details.

A local farming family has significantly expanded their agricultural footprint in Western Australia after paying more than $50m for a 5313ha mixed farm on the state’s south coast.

Listed for sale in April this year by the Malaysia-based Russell family, The Oaks cropping and sheep grazing property has been sold after five decades of ownership.

In a recently struck deal, it is understood a local farming family from Hopetoun, 160km west of Esperance, WA, has acquired the property for an undisclosed sum, which exceeded the $50m price guide.

Located near Dalyup, 40km northwest of Esperance, The Oaks has been owned by British tea entrepreneur John Russell since 1967. The Oaks was controlled by JA Russell (Australia), which was linked to the Russell family company.

Mr Russell established tea gardens in Malaysia’s Cameron Highlands in the late 1920s, founding the company now known as Boh Tea.

AWN Rural agent Rowan Spittle and Colliers Agribusiness agents Gabi Mewburn, Rawdon Briggs and Duncan McCulloch handled the sale of The Oaks which attracted interest from both institutional and local buyers.

The Malaysia-based Russell family have sold The Oaks, located 40km northwest of Esperance, WA.

“The Oaks attracted strong interest from both domestic and international buyers,

reflecting the continued demand for high-quality, scalable farming assets in Western Australia,” Colliers national director of agribusiness transactions services Duncan McCulloch said.

“We are delighted to have achieved a successful outcome for our client and look forward to

seeing the next chapter of this exceptional property.”

“The new owners are excited to continue the transition, undertaken by the Russell family, from a predominantly grazing property to 100 per cent cropping country,” AWN Rural WA property specialist Rowan Spittle added.

Across the last five years The Oaks has been transitioned toward an almost entirely cropping asset.

In recent seasons The Oaks has run a 70-30 split between cropping and pasture including winter stocking rates of 12 dry sheep equivalent per hectare, with a current flock of 4421 Merino ewes and 921 crossbred ewes.

The Oaks offered 3998 hectares of arable land, with over 80 per cent deep ripped to 500mm in the past three years.

Esperance district five-year average dryland cropping yields have ranged from 1.5-2.5t per hectare for canola and 3.5t-4.5t per hectare for wheat.

Water at The Oaks comes via three river systems which run through the property as well as 30 dams and a comprehensive waterline supplying troughs and cup-and-saucer tanks.

Infrastructure includes three homes, a six-stand shearing shed, sheep yards, and a shed, as well as extensive fence replacement.