ONE Tree Agriculture has bought Kinbeachie, a highly productive 5902-hectare (14,584 acre) Goondiwindi property, offered for sale by the Australian Pastoral Group (APG).
Kinbeachie, which is located about 50km west of Goondiwindi on the alluvial flood plain between the Macintyre and Weir Rivers, was bought by APG in 2014.
APG chief executive officer Campbell Hayes said there had been a tremendous level of inquiry into what was a first class agricultural asset.
“Kinbeachie is extremely versatile country that is equally suited to backgrounding cattle as it is to growing crops,” Mr Hayes said.
“We are very pleased that this property has sold to a company of the calibre of One Tree that has the management and organisational skills to fully appreciate the value of this operation.”
One Tree Agriculture is owned by Proterra Investment Partners (Australia). Proterra was formerly known as Black River, a one time subsidiary of Cargill. Cargill has no ownership interest in the new firm. Protera is described as an independent, employee-owned firm.
The sale of Kinbeachie is subject to Foreign Investment Review Board (FIRB) approval but given One Tree’s other Australian holdings the sale is expected to be given the green light.
The marketing of the property was handled by Henry Leonard from Leonard and Co, Raine and Horne Rural in Goondiwindi, who also negotiated the 2014 sale. Mr Leonard was recently named Raine and Horne Rural’s salesperson of the year.
The contract price has not been disclosed. However, the three properties being offered by APG are estimated to be worth more than $70 million.
Australian Pastoral Group is also selling its 143,000ha (353,361 acre) Normanton property Neumayer Valley and its 2573ha (6357 acre) Riverina property Deltroit Station.
Neumayer is being offered with 15,560 branded cattle plus followers plus an extensive list of station plant including a Cessna 206 aircraft.
It comprises of level blacksoil plains and river frontage country, mostly open with areas of woodland.
It has a frontage to the Leichhardt River on its western boundary and double frontage to the Alexandra River including a 19km long permanent waterhole at the homestead.
Neumayer, located 120km south west of Normanton, was bought by APG in 2013 and will be auctioned on May 25.
Deltroit Station is a signature property located between Wagga Wagga and Gundagai. The property was bought by APG in 2013 and is described as gently undulating creek country and rising low hill country.
About 70 per cent arable, the property is divided into about 70 paddocks with four laneways feeding to central cattle and sheep yards. Deltroit features a magnificent red brick federation-style homestead. The property was once owned by American Robert Kleberg, former King Ranch president.
Contact Dick Allpass, 0417 070 418, or Lorin Bishop, 0419 799 081, Elders.