Xinyangfeng Fertiliser Company to sell Riverina farm, Kendorwal

A foreign-owned 2300ha farm near Deniliquin is for sale for about $24 million after undergoing major upgrades.

A Chinese fertiliser company is looking to offload their 2300ha mixed farm in the NSW Riverina after completing extensive irrigation development during its almost seven years of ownership.

In 2016 the Xinyangfeng Fertiliser Company purchased the Kendorwal farm, located 45km from Deniliquin, as the first of several planned Australian investments.

Since then Xinyangfeng has completed significant capital development at the property under the guidance of agronomists at IK Caldwell.

Offers for the property are expected to reach about $24 million with 1665 Murray Irrigation Limited (MIL) water entitlements and 3950 MIL delivery entitlements included.

Border Real Estate Echuca director David Lees was managing the sale and said Kendorwal was “ready and raring to go for the 2023 season”.

“With the agronomy which has been done to improve the productive capacity, the soil moisture profile is very high at the moment and has nearly a guaranteed season of subsoil moisture,” he said.

IK Caldwell agronomists and Australian management and supervision has helped run and improve Xinyangfeng Fertiliser Company’s Deniliquin farm, Kendorwal.

“So far we have completed inspections with mostly locals and we expect there to be some corporate interest too.”

Mr Leeds said upgraded irrigation capital at Kendorwal included five circa-2018 lateral irrigators, a 770ML turkey nest dam and main pump complex which feeds five centre pivots.

He also said the pump infrastructure is nearly new while drainage improvements helped Kendorwal avoid the majority of last year’s floods.

“Thanks to the irrigation development, yields for last season were at about 10-10.5t for wheat and 4-4.5t for canola under the centre pivots,” he said.

Alongside the extensive cropping program, Kendorwal has also carried about 1000 breeding Merinos in recent seasons under Australian management and supervision.

Existing infrastructure includes two residences, a machinery shed, shearing shed with undercover holding yard and internal laneways.

Infrastructure at Kendorwal includes about 330t of grain storage and 70t of fertiliser storage.

Early access to the property is available for the successful purchaser to begin their 2023 cropping preparations.

The property is for sale via expressions of interest closing Friday, March 3.

Founded in 1982, Xinyangfeng Fertiliser Company has its headquarters in both Beijing and Jingmen of Hubei Province, where it produces phosphate fertiliser, compound fertiliser, new energy materials, fine chemicals, and phosphogypsum building materials.

Xinyangfeng also has an established distribution network throughout Australia.

Earlier this year the 2370ha Marong Station, located 40km from Deniliquin, was sold by the Muenster family to a local cotton grower in a deal understood to be worth about $14 million to $15 million.