Which well-known farms sold in the 2019-20 financial year

Several well-known farms sold during the 2019-20 financial year. We take a look at some of the biggest names, how much they sold for and who snapped them up.

Fairfield at Rutherglen sold for $12.5 million in the 2019-20 financial year.

HUNDREDS of millions was splashed on rural properties last financial year, with some of the country’s best-known farms among those sold.

One of the biggest cheques was paid for the Midkin aggregation, at Moree in NSW, which Australian Food and Fibre bought in a joint venture with Canada’s Public Sector Investment Board for $300 million in September.

The sale included 57,600 megalitres of water.

Also in September, one of Australia’s biggest dairy operators, Australian Fresh Milk Holdings, purchased Torrumbarry Estate, west of Echuca, for $20 million.

In November, the North East Victorian cattle aggregation Rockleigh, at Staghorn Flat, fetched $10.6 million under the hammer.

Rockleigh at Straghorn Flat

The 433ha property, which had been owned by the Adams family since 1902, was sold in seven separate lots and smashed price expectations which were between $6-7 million.

In December, Macquarie-backed Viridis Ag spent almost $40 million on rural properties in NSW.

The company purchased the 3163ha property Oodnadatta Farms at Moree for $23.72 million and also snapped up the 2058ha neighbouring property, Grainfields, for more than $15.43 million.

In the first half of the financial year Fairfield Estate at Rutherglen also sold with John and Mary Ariano paying $12.5 million for the 851ha property.

In March, the historic Mawallok Estate, at Stockyard Hill, was snapped up by the largest importer of Australian wool into China, Qingnan Wen, for about $25 million while Chatsworth House near Mortlake sold for about $25 million in April.

Mawallok in Western Victoria

CBRE’s director of agribusiness, Shane McIntyre, said over the past 12 months the market had presented an outstanding calibre of properties.

“It has been possibly the best offering in a decade” Mr McIntyre said.

“Properties such as Blackwood, Mawallok, Chatsworth House, Mount Hamilton and Devon Park among others all sold to predominantly national interests or successful family farming primary producer enterprises.

“We fully expect this trend to continue into the next financial year. The market has the opportunity to borrow money at historically low interest rates in a market that is under supplied across Australia.”

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