Wonga Park, Spring Park, Kangertong: Victorian farms worth $80m-plus for sale

A premier 1080ha aggregation in Victoria’s Murray Valley is being offered by one of southeast Australia’s major agricultural developers.

Two premier dairy farms, a sprawling mixed farming aggregation and a first-class orchard worth more than $80 million combined have stormed Victoria’s rural property market.

Amid a spring selling season that is gaining momentum, a mix of agricultural investors and established farming families have decided to sell their properties, which will command millions.

GoFARM’s Wonga Park aggregation was expected to fetch offers north of $40 million.

WONGA PARK AGGREGATION, KATAMATITE

VENDOR: GoFARM

PRICE: $40 million

SALE: as a whole or as separate properties; by private treaty (LAWD)

One of southeast Australia’s premier agricultural managers and developers, GoFARM has listed one of its premier farming assets for sale, offering the Wonga Park Aggregation at Katamatite.

The 1088ha aggregation comprises three lots (Wonga 1, 2 and 3) and is a large-scale irrigated property presently operated as a dairy enterprise supported by annual cropping.

Wonga Park is for sale via private treaty where it could be sold as a whole or in up to five lots.

Offers of about $40 million are expected for the aggregation as a whole.

Wonga Park has a lease agreement in place until June 2024, with significant water entitlements including Katunga deep lead groundwater (3749ML), Shepparton groundwater (616ML) and recycled wastewater (1685ML) enabling high-yielding cereals (corn, barley and wheat), oilseeds (canola) and pulse crops (faba beans) crops.

The Wonga Park aggregation is located near GoFARM’s Sandmount Farms at Katunga, which was listed for sale for about $250 million earlier this year.

GoFARM also listed its significantly redeveloped Petro Station for sale for about $20 million and purchased 9000ha that was part of Aware Super’s Lake Boga Agriculture Portfolio for about $30 million.

Spring Park dairy had 950 cows producing about six million litres of milk annually.

SPRING PARK DAIRY

VENDOR: Dr Vincent Lee
PRICE: $23-26 million
SALE: expression of interest closing Thursday, November 17 (LAWD)

Southwest Victorian eye surgeon Dr Vincent Lee is selling his premier 836ha dairy farm, Spring Park at Tarrone.

Presented as an “institutional grade irrigated dairy opportunity” in Victoria’s Western District, Spring Park was milking 950 cows and producing about six million litres of milk annually with an Australian Consolidated Milk supply contract in place.

Dr Lee has significantly developed Spring Park during his ownership tenure, employing a farm manager to run the property, which is expected to command offers worth about $23-26 million.

The farm includes first-class irrigation infrastructure such as centre pivot irrigation, and a 490ML groundwater licence enabling annual cropping.

Lisa and Eddie Dwyer on their farm at Purnim, Kangertong. Picture: Yuri Kouzmin

KANGERTONG, PURNIM

VENDOR: Lisa and Eddie Dwyer
PRICE: in excess of $9 million
SALE: expressions of interest invited by November 3 (CBRE)

About 50km west of Spring Park, prominent Victorian dairy figures and industry leaders Lisa and Eddie Dwyer are selling their 260ha Kangertong farm at Purnim.

Offers of more than $9 million are expected for Kangertong with CBRE inviting expressions of interest for the property by November 3.

The Dwyers’ award-winning dairy enterprise has been run by four generations of the Woolley family since 1919 after Mrs Dwyer’s great grandfather established the farm.

Lisa Dwyer is a leading participant in the Dairy Farm Monitor Project, run by Dairy Australia and Agriculture Victoria, with the highly productive operation producing in excess of 3.7 million litres of milk and 270,000kg of milk solids annually.

Kangertong is expected to field offers in excess of $9 million.

CBRE’s Matt Childs and David Goodfellow are handling the sale, with Mr Childs describing the farm as a first-class enterprise.

“In Kangertong, the Woolley and now Dwyer families have developed an industry-leading dairy operation with elite production over the course of more than a century,” Mr Childs said.

Orsida Citrus Orchard is owned by GoFARM Australia.

ORSIDA CITRUS ORCHARD, COBRAM

VENDOR: GoFARM
PRICE: greater than $6 million
SALE: via private treaty (LAWD)

In Victoria’s Murray Valley, GoFARM is also selling one of its prized horticulture assets for more than $6 million.

The Orsida Citrus Orchard, 8km from Cobram, is also on the market after significant redevelopment.

Several years ago GoFARM cleared the orchard, planting the 89ha farm with 71ha of Afourer seedless mandarins with the balance (18ha) comprising support land.

The Orsida Citrus Orchard also offers access to 288ML of Katunga groundwater deep lead entitlements.

LAWD’s Danny Thomas and Erica Semmens are managing the sales of Wonga Park, Spring Park and Orsida Citrus Orchard.