Who owns Victoria’s farms 2022: Biggest landholders revealed

A Melbourne legal eagle and Hong Kong’s richest man are among those investing in Victoria’s farms. Search our interactive list of who owns what.

Hong Kong’s richest man, a well-known Melbourne legal eagle and a London-based billionaire are among the growing list of people throwing bucketloads of cash at Victorian farmland.

The Weekly Times’ annual investigation into who owns Australia’s farms shows significant investor movement over the past 12 months amid insatiable demand for rural property spurred by low interest rates, a dramatic turnaround in seasonal conditions and strong farmgate returns.

The investigation found that a Canadian-fuelled spending spree on Aussie farms has surged past the $5bn mark in the past year while two mates from outback Northern Territory – Viv Oldfield and Donny Costello of Crown Point Pastoral Company – have snatched the coveted No. 1 landholder position from billionaire Gina Rinehart.

Crown Point’s holdings now total more than 7.2 million hectares across northern Australia – greater than the size of Ireland.

From a value perspective, Canada’s PSP Investments – the pension fund for the Canadian public service including the world-famous royal mounted police force – cemented its No.1 ranking with a portfolio of land and water assets now estimated at $5bn.

PSP has significant investments in Victoira, with four dairy aggregations totalling 10,670 hectares, operated through its Aurora Dairies business, and 7300 hectares of cropping farms near Boort managed by its Daybreak Cropping arm.

Macquarie Agriculture — the second-biggest investor in Australian farmland assets with more than $2.5bn deployed — owns the 8244-hectare Barton property and Moyston and the 3024-hectare Beckworth Court at Clunes. The third-biggest investor, the North American-based TIAA-CREF, also has several Victorian investments: the 2802-hectare Glenfine property at Cressy, and the 675ha Mullimbimby and the 1350ha Picarra at Derrinallum.

Other major investors in the state include Dunkeld Pastoral Company, owned by prominent Melbourne barrister Allan Myers QC, who owns more than 12,000ha of land in the Western District and JHW Paterson and Son whose portfolio in western Victoria totals more than 10,000ha.
Two of the state’s biggest farming operations — the 47,000ha Telopea Downs Aggregation in the Wimmera and the 6488ha Cobungra Station near Omeo — are owned by AJ&PA McBride Pty Ltd and the ASX-listed Rural Funds Group respectively.

WHO’S OWN VICTORIA’S FARMS — THE FULL LIST

ACE DAIRY HOLDINGS (NETHERLANDS)

Mostly owned by Deutsche Bank’s DWS Global Agricultural Land and Opportunities Fund and Dutch government and education pension fund, Stichting Pensioenfon ABP, with portfolio managers Duxton Asset Management also owning a share. Sold a number of dairy farms during 2021.

• Whites, Heyfield VIC – 314ha.

• Donahoes, Maffra VIC – 289ha.

• Hill Farm, Maffra VIC – 427ha.

AJ&PA McBRIDE

Based in South Australia, the sixth-generation AJ&PA McBride and Co operates across 1.3 million hectares running 375,000 sheep and employing 90 staff. The company is now owned by 102 McBride family shareholders with a strong focus on wool.

• Telopea Downs aggregation, Telopea Downs VIC – 47,677 hectares. Purchased in 2018.

Source: mcbride.com.au

ANTONY AND SYBIL BAILLIEU

• Yarram Park, Willaura VIC – 9700ha.

AUSTON CORPORATION (CANADA)

Australian arm of the Ontario Teachers’ Pension Plan Board which was established in 1991 and administers pensions for 183,000 teachers. Owns almond, apple and avocado farms in South Australia and Victoria.

• Margooya/Canarvon, Robinvale VIC – 2878ha. Purchased in 2015 for $115m.

• Pomona Valley, Ardmona VIC – 500ha. Purchased in 2021.

AUSTRALIAN FRESH MILK HOLDINGS

A partnership between Chinese agriculture group New Hope, the Perich Group and ASX-listed Freedom Foods. Has significantly increased its investments in the past three years.

• Coomboona Farms, Goulburn Valley VIC. Purchased in 2018 for about $46m.

• Torrumbarry Estate aggregation, Torrumbarry VIC – 3500 hectares. Purchased in 2019 for $40m.

AWARE SUPER

• Lake Boga Portfolio, Lake Boga VIC — 9004ha.

BANYANDAH PASTORAL

Operated by Ian and Camilla Shippen.

• Mt Fyans, Dundonnell VIC — 5900ha.

• Woorndoo, Lake Bolac VIC. Purchased in 2021.

BOUNDARY BEND LIMITED

Established in 1998, now Australia’s leading producer of premium extra-virgin olive oil. Operates over 6278ha of land with 2.2 million trees. ASX listed. Also owns 1500ha of land in Argentina which is highly suitable for olive development.

• Boort Estate, Boort VIC – 2550ha of olive groves, comprising 900,000 trees.

• Boundary Bend Estate, Boundary Bend/Wemen VIC – 3500ha of olive groves, comprising 1.3 million trees.

Source: boundarybend.com

CAPARRA PTY LTD

Headed up by the family of the late Tom Brinkworth. Operates over one million hectares of land spread across 100 properties, including:

• Kaladbro Station, Strathdownie VIC. 2632ha. Purchased in 2016.

CK LIFE SCIENCES (CHINA)

Hong Kong-listed company, backed by Hong Kong’s richest person Li Ka-shing. Australia’s second-largest vineyard owner. Also has citrus and grape growing properties in Victoria’s Sunraysia region as well as grain, cotton, mango and berry investments.

• Nangiloc Colignan Farms, Mildura VIC – 700ha of citrus and table grape orchards. Purchased for $50m in 2018 (including $16m of water entitlements).

Source: ck-lifesciences.com

COMPASS AGRIBUSINESS

Manages 1600ha across several farms in Tasmania, worth $45.5 million, on behalf of independent investors. Offered dairy farms Tara at Warrnambool (713ha), Melro at Heywood (476ha) and Tarraville at Yarram (863ha) for sale on behalf of an overseas fund in 2020 for $30m-plus.

DUNKELD PASTORAL COMPANY

Owned by prominent Melbourne barrister Allan Myers QC. Operates more than 12,000ha of land in Victoria’s Western District and almost one million ha in northern Australia.

• Blackwood, Dunkeld VIC – 2406ha. Purchased by Dunkeld Pastoral in December 2019, property currently runs 1100 Angus breeding cattle and grows 500ha of cereal and oilseed crops.

• Condah Hills, Condah VIC – 1200ha. Cattle breeding and finishing block with two centre pivots and a large irrigation entitlement. Also silage and hay production.

• Corea South, Dunkeld VIC – 4000ha. Aggregation of five properties focused on producing prime lambs from composite ewes joined to Poll Dorset, Hampshire Down and Romney rams. Also summer crop production, hay and silage production and some cash cropping.

• Devon Park, Dunkeld VIC – 2000ha. Runs a 2100-cow self replacing cattle operation with progeny transferred to Condah Hills for fattening. Aggregation includes 1215ha purchased in 2020 for $14m.

• Doongan/Theda Stations, Kimberley WA – 610,000ha. Operations are focused on carbon abatement and sustainable land management. Also hosts a number of research projects from the universities of Sydney, Melbourne, Western Australia and Queensland.

• Tipperary Group: Tipperary Station, Litchfield and Douglas West (in partnership with Booloomani Pty Ltd) NT – 386,001ha. Focused on large-scale cattle backgrounding and breeding, cattle agistment, live export quarantine, fodder production, tourism and evens and conservation. In recent years has trialled growing cotton.

Source: dunkeldpastoral.com.au and tipperarygroup.com.au

FIERA COMOX (CANADA)

Canadian private equity investment firm that has billions worth of agriculture and forestry assets across the world. Areas of global investment include apples and cherries, almond, cotton and grain, maple syrup, row crops and dairy.

• Western Victoria portfolio — 40,792ha of land concentrated on crop and sheep production.

FIRST STATE SUPER

Superannuation group established in 1992 for NSW public sector employees and their families. Currently manages about $89 billion on behalf of 770,000 members.

• Mullroo, Cullulleraine VIC – 300ha of almonds. Purchased from Select Harvests in 2015.

goFARM

With Melbourne-based, Australian-owned agriculture investor and manager. In March finalised its sale of the 11,260ha Yarrabee Park farm near Morundah in southern NSW for $60m-plus. Has listed Sandmount Farms for sale with expectations of more than $250m.

Source: gofarmaustralia.com.au

goFARM managing director Liam Lenaghan and chief farming office Nick Raleigh at Sandmount Farms aggregation near Katunga in northern Victoria which is on the market for more than $250 million.

GRAY WIGG

Major dairy farming players in Victoria’s Gippsland region. Sold 2500ha of dairy farms around Nambrok for $55m-plus to Canada’s PSP Investments (Aurora Dairies) in 2020 and the Clydebank Aggregation in 2021 for $20m-plus.

INGLEBY FARMS

Owned by the British-based Swedish Rausing family, Ingleby Farms and Forests is a world leader in the production of high-quality food through sustainable agriculture. Manages farms in nine countries and across four continents.

• Mt Elephant Station, Derrinallum VIC – 4770ha. Includes 2944 ha of arable cropping land and 1286ha of pasture. Runs 8000 composite breeding ewes and grows wheat, barley, canola, faba beans, oats and ryegrass.

JHW PATERSON AND SON

• Western District portfolio, Anakie VIC — 10,120ha.

KILTER RURAL

• Australian Farmland Fund, VIC — 1000ha.

• Wedgetail Food and Fibre, VIC — 10,000ha.

MACQUARIE AGRICULTURE

• Barton, Moyston VIC – 8244 ha (Paraway Pastoral Company).

• Beckworth Court, Clunes VIC – 3024 ha (Paraway Pastoral Company).

MH PREMIUM FARMS (UNITED KINGDOM)

Owned by UK-based Australian billionaire Sir Michael Hintze, MH Premium Farms was founded in 2007 and now operates across more than 87,500ha and 19 properties in NSW, Queensland and Victoria.

• Cheviot Hills, Penshurst VIC – 2791ha (lamb/beef/wool). Purchased in 2017.

• Minjah, Hawkesdale VIC – 2846ha. Purchased in 2021 for about $36m.

MIDFIELD PASTORAL

Midfield Meats boss Colin McKenna owns about 7285ha across eight properties in southwest Victoria and South Australia’s South East, including:

• Kuleah/Quamby East, Woolsthorpe VIC – 1894ha.

• The Union Station, Warrnambool VIC – 3237ha.

MINTO GLEN PASTORAL COMPANY

Operated by Chris Stoney.

• Minto Park, Mansfield VIC.

• Morwell Aggregation, Morwell VIC.

MURRAY RIVER LAND COMPANY

A partnership between ROC Partners and LAWD director Danny Thomas. Comprises about 60 mostly former dairy farms covering 10,000ha between Numurkah and Tocumwal.

PRIMEWEST

ASX listed property investors based in Perth.

• Dookie Rd Orchard, Shepparton VIC — 50ha.

• Lamattina Farm, Mornington Peninsula VIC – 385ha. Produces celery and parsnips.

PSP INVESTMENTS (CANADA)

Manages the superannuation funds of the Canadian public sector and armed forces in addition to the 30,000-member-strong Royal Canadian Mounted Police. The biggest investor in Australian agriculture with about $5bn in assets through direct investment and joint ventures.

• Almond orchards, Robinvale VIC – 12,000ha. Paid $860 million for the land and almost 90,000 megalitres of high-security water in one of the biggest deals in Australia’s agriculture history.

• Catumnal Farms, Boort VIC – 7300ha (Daybreak Cropping).

• Gippsland Aggregation, Nambrok VIC – 6000ha (Aurora Dairies).

• Millewa vineyard, Cullulleraine VIC – 519ha. Purchased in 2018 for $16 million

• Northern Aggregation, Echuca VIC – 1010ha (Aurora Dairies).

• South West Aggregation, Woolsthorpe VIC – 2600ha (Aurora Dairies).

• Western District Aggregation, Simpson VIC — 1060ha (Aurora Dairies).

QUIGNAN WEN (CHINA)

Chinese businessman, Tianyu Wool Industries president.

• Lal Lal Estate, Yendon VIC – 2025ha. Purchased in 2014.

• Mawallok Estate, Stockyard Hill VIC – 2349ha. Purchased in 2019 for more than $25m.

• Mokanger, Cavendish VIC – 109ha.

• Lewana, Hamilton VIC – 498ha.

RURAL FUNDS GROUP

The ASX-listed Rural Funds Group has large-scale investments in almonds, beef, cotton, macadamias and vineyards across NSW, Queensland, South Australia and Victoria with $1.3bn in assets under management.

• Cobungra Station, Omeo VIC – 6488ha. Purchased in 2019 for $35m.

• Rosebank vineyard, Grampians VIC – 82ha of vines.

SALTBUSH AG PTY LTD (HANDBURY GROUP)

Headed up by Paddy Handbury, son of the late Geoff and Helen Handbury. Sold Collinsville Merino stud and property in 2014.

• The Rises, Balmoral VIC.

SELECT HARVESTS

Operates more than 9000 ha of almond orchards in Victorian Mallee, the South Australian Riverland and NSW Riverina. Paid $129m for the 1566ha Piangil almond plantation in October 2020.

• Lake Cullulleraine orchard, Lake Cullulleraine VIC.

• Robinvale/Euston orchards VIC/NSW – 1688ha.

• Piangil almond orchard, Piangil VIC – 1566ha. Purchased in 2020 for $129m.

Source: selectharvests.com.au

SHANDONG RUYI (CHINA)

Chinese textile group.

• Larundel Estate, Ballarat VIC – 1012 ha. Purchased in 2011 for $14m.

SIG GROUP

Melbourne-based property developers.

• Merri Park, Beveridge VIC – 434ha. Purchased in 2021 from the descendants of Sir Cecil Looker – a private secretary to Sir Robert Menzies during World War II – for more than $100m.

STONE AXE PASTORAL COMPANY

Fullblood Wagyu venture between cattleman Matthew Walker and investment bank Moelis.

• Cobungra Station, Cobungra VIC – 31,000ha. Leased from Rural Funds (see separate listing).

TIAA-CREF/NUVEEN (UNITED STATES)

One of the biggest investors in Australian agriculture, the New York-based Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, through its asset management subsidiary Nuveen, owns almost 300,000ha of developed cropping country about 70 properties or aggregations. Its land and water portfolio is worth an estimated $2bn.

• Glenfine, Cressy VIC – 2802ha.

• Mullumbimby, Derrinallum VIC – 675ha.

• Pircarra, Derrinallum VIC – 1350ha.

TIVERTON AGRICULTURE

Investors in diverse food production assets that align with its strategy of combining regenerative agriculture, biodiversity solutions and natural capital value for superior investment returns.

• Orana, VIC – 4674ha. Converting from convention to sustainable cropping and permanent plantings such as olives.

• Sunland Fresh Fruit, VIC and NSW – 363ha. One of Australia’s largest stone-fruit orchards growing peaches, nectarines, apricots, apples, pears, persimmons, pomegranates and plums.

• Sunland Table Grapes, Sunraysia VIC – 86ha. Produces high-quality, export accredited fruit.

TRT PASTORAL GROUP

Owned by Melbourne businessman Tim Roberts-Thomson. Sold the 33,700-hectare Juanbung Station near Hay NSW in 2019 for about $60 million and paid $120m-plus for a 6000ha slice of the Woolnorth aggregation in northwest Tasmania in 2021.

• Mansfield Aggregation, Mansfield VIC – 2200ha.

Tim Roberts-Thomson with his children Madeleine and James run TRT Pastoral.

WARAKIRRI ASSET MANAGEMENT

Warakirri Asset Management is another of Australian agriculture’s multimillion-dollar behemoths, with its own Warakirri Cropping and Warakirri Diversified Agriculture Fund assets as well as Aurora Dairies (backed by Canada’s Public Sector Pension Investment Board – see separate listing)

• Baingarra, Minyip VIC – 5700ha (Warakirri Cropping).

• Bullarto Downs, Hopetoun VIC – 9700ha (Warakirri Cropping).

• Moira Orchard, Cobram VIC (Warakirri Diversified Agriculture Fund).

• This list was compiled from industry sources, websites and media reports. The Weekly Times, publisher of AgJournal, accepts no responsibility for the accuracy of this list. For more information, email [e-mail]