Western District family split four dairy farms between two buyers

A renowned family has sold a major part of its 1270ha Simpson Dairy aggregation, about four years after they bought it. See the details.

A renowned Western District farming family has sold four of its dairy farming properties, splitting them between two separate buyers.

The Diprose family has sold the southern portion of what was its 1277ha Simpson Dairy aggregation, selling the 854ha Boorook Dairy hub at Cooriemungle into two evenly sized properties.

Split by Boorook Rd, the 421ha southern side will continue dairying after it was sold to a private buyer, while the 429ha north side has been purchased by an investor with nearby holdings for alternate use.

The price and details of the purchasers remain undisclosed due to confidentiality, with settlement pending.

When the aggregation was listed for sale last September offers exceeding $35 million were expected for the aggregation as a whole, walk-in walk-out, or the equivalent of more than $27,000 a hectare.

It is understood the properties transacted in-line with initial price expectations.

John and Helen Diprose, alongside their son Gerard and wife Kirsten, acquired six properties individually in 2020, diversifying from their traditional sheep and cropping enterprise, which spans more than 2000ha near Caramut.

Caramut farmers Kirsten and Gerard Diprose and family have sold the southern portion of their Simpson Dairy Aggregation. Picture: Zoe Phillips

Following significant capital investment across the aggregation, the family decided to sell the properties to pursue other goals and interests.

While deals were struck for the Boorook Dairy hub, the two-farm 423ha Conveys Road Hub north of Simpson remains on the market, as a stand-alone operation with an estimated milking capacity of 750 cows, plus a 60-bale rotary.

JLL Agribusiness agents Chris Lawlor and Jock Grimshaw handled the sale following interest from both institutional and local agriculture investors.

The four-farm Boorook Road Hub included a 50-bale rotary and adjacent feed pad.

“The Simpson Dairy aggregation sale process has received a range of interest from a broad cross-section of buyers and ultimately, the Boorook Road Hub was split in order to achieve the best outcome for the vendor,” Mr Lawlor said.

“Dairy has continued to perform among a changing economic landscape and commodity cycle as competition from processors to secure milk supply has helped to underpin strong sale results for quality farms with scale.”

Last year the Diproses’ dairy aggregation milked 1670 cows across three milking platforms, producing 824,000kg of milk solids via the two separate hubs, located 25km apart.