WA farms sold for $75m-plus combined

Several major WA farms have been sold including a 11,503ha holding and a 3050ha cropping portfolio.

A series of Western Australian cropping properties stretching from the state’s Great Southern region, up to the state’s wheatbelt region north of Perth, have changed hands in recent sales.

WA cropping king John Nicoletti has sold the 11,503ha Connawarrie property, located near Mt Sheridan, about 90km east of Lake Grace.

The Weekly Times understands five local farmers have secured part of the Connawarrie property via an off-market transaction.

The value of the transactions is understood to have been worth $35m combined.

Mr Nicoletti had owned Connawarrie for four seasons after he acquired it in March 2021.

At the time, retiring farmers Ian and Lesla Chamberlain sold the property after 50 years of ownership.

Historically, Connawarrie had produced grain, sheep and wool, growing barley, oats, wheat and canola crops.

John Nicoletti has sold the 11,503ha Connawarrie property to multiple local buyers.

The property is also capable of running 5000 sheep, but has been conservatively carrying about 3800.

LAWD agents Danny Thomas and Simon Wilkinson handled the sale but declined to comment on the transaction.

Further south a major part of the WALT portfolio, a 5595ha aggregation of five cropping and livestock properties located about 65km northeast of Albany in the state’s Great Southern region has been sold.

Swedish pension fund Forsta AP-fonden’s Melbourne-based subsidiary, First Australian Farmland, aggregated the WALT portfolio across the past decade, spanning two operational hubs about 12km apart near South Stirling.

First Australian Farmland have sold part of their WALT portfolio in WA’s Great Southern region.

The Weekly Times understands a 3052ha aggregation of three farms has been sold to a private purchaser.

The value of the transaction remains undisclosed.

The 1035ha Range Montana and 1017ha Gidget and 999ha Wimbush properties were part of the asset sold.

The total value of the WALT portfolio was expected to be sold for about $50m. The associated 1564ha Goodhope and 978ha Tagliaferri properties remain on the market.

Elders Real Estate agents Simon Cheetham and Simon Thomas handled the sale but could not comment on the transaction.

Finally, James and Rebecca Raffan have sold the 1451ha Cantabilling Springs, located in the Hill River, 25km east of Jurien Bay.

Owned by the Raffan family for 12 years, Cantabilling Springs was listed for sale last August.

It is understood the property has been sold for $15.5m, to an undisclosed buyer.

About 600ha of Cantabilling Springs is gravel loams and sandy clay loams growing wheat, oats and canola.

The balance of the property runs a Dorper operation comprising 3000 ewes and 4000 lambs.

Nutrien Harcourts WA agent Terry Norrish handled the sale but was unable to comment on the transaction.