One of Australia’s most significant agricultural offerings in recent times is set to hit the market this month (October 2020), with price expectations of $120,000,000.
Located in the renowned Riverina Region of New South Wales, the 13,652ha* Western Rosella Farming Portfolio includes three properties located within a circa 95km radius of one another, including Moora at Hillston (524ha*), Euroley at Euroley (2,419ha*) and Newmarket at Maude (10,708ha*).
The portfolio benefits from being both geographically dispersed (accessing separate irrigation systems and water products) and having a diversified commodity mix.
This mix includes established permanent plantings, such as almond orchards; greenfield land, approved for further development to support permanent plantings; both dryland and irrigated row cropping; and livestock grazing.
CBRE Agribusiness has been appointed to market the portfolio and agent Danny Thomas has said the portfolio represented an institutional scale holding for the region, and a significant opportunity to acquire a landholding benefiting from scale and first-class irrigation development with highly sought-after almond orchards.
“The portfolio offers an excellent agricultural offering for the region that will be of interest to investors, both domestic and international” Mr Thomas continued.
The key investment highlights of the three properties include:
- A highly developed 524ha* almond orchard, 434ha* has been planted with 365ha* planted in 2017 and the rest planted in 2018.
- Benefited by a Lower Lachlan Groundwater Entitlement (7,145ML*, noting an Annual Groundwater Extraction Limit of 7,742ML*) along with a Lachlan River High Security Entitlement (708ML*).
- A newly developed almond orchard comprising a total land area of 2,419ha*, with 376ha* planted in 2020.
- Benefited by recently installed state-of-the-art irrigation, fertigation and pumping infrastructure.
- Strategically located 48km* south east of Griffith, the property has 2km* of Murrumbidgee River frontage, as well as 5km* of frontage to the Sturt Highway.
- Includes 1,000ML* of Temporary Surface Water Secured for FY20/21, with access to the Murrumbidgee Regulated River Water Source (via direct diversion).
- A first-class irrigation development with 1,281ha* developed to overhead sprays (lateral move and centre pivot irrigators), 729ha* of laser levelled flood irrigation and 425ha* of flood irrigation.
- Further development potential with 1,201ha* approved for development, which can be tailored by an incoming purchaser.
- Significant water entitlements, including a Lower Murrumbidgee Groundwater (Zone 3) Water Entitlement (6,018ML*), a Murrumbidgee River – Supplementary Entitlement (649ML*) and a Domestic and Stock Entitlement (341ML*).
- Substantial on-farm water storage totalling 7,680ML* capacity (currently holding 2,550ML*).
Situated in one of the most productive and agriculturally diverse regions in Australia, the area is renowned for horticultural/agricultural enterprises, including permanent plantings (almonds, walnuts, citrus, wine-grapes, etc.) and irrigated cropping of cotton and cereals, alongside agricultural pursuits such as dryland cropping and grazing.
The portfolio is complemented by an array of proximate amenities, including retail, financial, medical, and government services, education (primary and secondary) and transportation services.
On offer in one line or as separate properties, the portfolio is for sale by International Expression of Interest, closing Thursday 19 November 2020 at 4pm (AEDT).
Source: CBRE Group