Which major Australian farms are for sale heading into 2023?
As 2023 begins, eyes will be watching the Australian rural property market closely to see what major farm sales might define the next 12 months.
Australian rural property prices soared to and then stabilised at record levels in 2022 with many notable farms changing hands, but deals for some are yet to be finalised.
With 2023 just around the corner, some of the nation’s most valuable farms could be in different hands soon into the new year.
After double digit price growth across multiple years, values have flattened through winter and into spring with many deals settling at district record levels.
Ray White Rural Victoria and Tasmania director Jason Hellyer said with rural property prices stabilising at a relatively strong level he was expecting a shift towards buyers into the new year.
“With prices stable at that higher level, in the next 12 months to two years, with the flattening prices I’m expecting more larger investors to come into the market and look to buy land to add to their existing holdings,” he said.
“I think we will move towards a buyers market with super funds and larger family farming concerns looking at agribusiness investment with commodity prices still relatively strong.”
So which properties will catch the headlines in 2023?
Australian rural property sales 2023 watchlist:
$250 MILLION
6298 HECTARES
Seller: goFARM Australia
Listed for sale in February 2022, goFARM Australia are yet to formally offload their mammoth northern Victorian aggregation, but negotiations are continuing.
Comprising 27 individual farms between Numurkah and Cobram and a water portfolio of more than 50,000 megalitres pieced together over the past four years goFARM were eyeing about $250 million for the holdings from a buyer also capable of investing a further $200 million into development.
$230 MILLION-plus
WALHALLOW AND CRESWELL DOWNS, CRESSWELL NT
1M HECTARES
Seller: Brett Blundy
Retail billionaire Brett Blundy relisted his massive Northern Territory cattle station, Walhallow Station and Creswell Downs for sale after a Sydney-based fund manager failed to settle the contract.
In August the property was said to have been sold for a single cattle station record of $250 million, but the original contract fell over.
Operating as a giant cattle station for more than 40 years, the property is located on the Barkly Tableland, east of Daly Waters and about 1000km from Darwin.
It is being sold as on a walk-in-walk-out basis including in excess of 61,000 head of Brahman cattle.
$120 MILLION
PACKHORSE PASTORAL AGGREGATION, QLD AND NSW
27,124 HECTARES
Seller: Packhorse Pastoral Company
Less than three months after their co-founder, Tom Strachan, passed away in a light plane crash an one hour west of Brisbane, Packhorse Pastoral Company listed their $120 million aggregation for sale.
In November, Packhorse Pastoral Company chairman Tim Samway said the company was open to a variety of offers on their grazing and carbon farm portfolio.
“It could be with a new partner who could inject substantial new capital, but equally the company would welcome interest from local landowners who may wish to acquire one propertyor a line of three outstanding properties and so benefit from the economies of scale,” he said.
More than $100 MILLION
GUNDALINE STATION, CARRATHOOL NSW
14,916 HECTARES
Seller: Optifarm
After just four years in the hands of Dutch agricultural investors Optifarm, one of Australia’s largest irrigated cotton and cropping farms, Gundaline Station, was back on the market.
The whopping property hit the market in October 2022 after it was originally listed for sale in July 2020, but was taken off the market due to the effects of Covid-19.
Aside from 14,916ha, (6000ha for flood irrigation), Optifarm are also offering 12,500ML Lower Murrumbidgee groundwater (zone 2), 690ML low security river water and 2329ML of Murrumbidgee River supplementary water.
Gundaline also has an approved extraction limit (groundwater) of 18,000ML a year with 17,000ML on-farm water storage.
$100 MILLION
BAKER GRAIN AGGREGATION, HOWLONG NSW
3010 HECTARES
Seller: Baker family
The Baker family are selling its 3010ha aggregation, a property regarded as a production powerhouse and one of the Howlong region’s premium rural properties, after 33 years in charge.
The aggregated holding was listed for in September and with irrigation country in the southern NSW Riverina achieving about $24,700 a hectare ($10,000 an acre), it was expected the Bakers Grain Aggregation will receive offers greater than this figure plus improvements and water.
Nutrien Harcourts Albury selling agent Billy Jones, Mr Jones said the Baker Grain Aggregation was a premier property in the district.
“This is a unique opportunity which would enable an existing industry participant to broaden their operational base or a new entrant to secure a large foothold in a highly regarded and tightly held location,” he said.
$60 MILLION
3877 HECTARES
Seller: James and Felicity Carr
Earlier this month the historic eastern Australian rural holding, Funny Hill, was passed in at auction and is now for private sale.
The Carr family listed the property for sale after 162 years of farming history with a price guide of more than $57.5 million, as farmland in the Binda-Crookwell district had been selling for about $14,825 to $19,767 a hectare ($6000-$8000 an acre).
On December 15 the property was passed in at auction on a vendor bid of $60 million.
Funny Hill is rated at a carrying capacity of 45,000 dry sheep equivalents, or 2000-plus cows, and is also home to the Binda Picnic Day races, which began in 1848.
$40M
ARATULA AGGREGATION, TOCUMWAL NSW
4852 HECTARES
Seller: Scott family
$40M
1088 HECTARES
Seller: goFARM Australia
$30M
1196 HECTARES
Seller: Henderson family
$30M
1200 HECTARES
Seller: Private family
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