A $120m Riverina farming portfolio is for sale

Riverina farming portfolio is for sale

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One of Australia's most significant agricultural offerings in recent times is set to hit the market this month, with price expectations of $120 million.

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One of Australia's most significant agricultural offerings in recent times is set to hit the market this month, with price expectations of $120 million.

Located in the Riverina region of NSW, the 13,652-hectare Western Rosella Farming portfolio includes three properties located within a 95-kilometre radius of one another, including Moora at Hillston (524 hectares), Euroley at Euroley (2419 hectares) and Newmarket at Maude (10,708 hectares).

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 said it 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 said.

The key investment highlights of the three properties include:

Moora

A highly-developed 524-hectare almond orchard, 434 hectares has been planted with 365 hectares planted in 2017 and the rest planted in 2018.

Benefited by a Lower Lachlan Groundwater Entitlement (7145 megalitres, noting an Annual Groundwater Extraction Limit of 7742ML) along with a Lachlan River High Security Entitlement (708ML).

Euroley

A newly-developed almond orchard comprising a total land area of 2419 hectares, with 376 hectares planted in 2020.

It is 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 1000zmL of Temporary Surface Water Secured for FY20/21, with access to the Murrumbidgee Regulated River Water Source (via direct diversion).

Newmarket

A first-class irrigation development with 1281 hectares developed to overhead sprays (lateral move and centre pivot irrigators), 729 hectares of laser levelled flood irrigation and 425 hectares of flood irrigation.

There is further development potential with 1201 hectares approved for development, which can be tailored by an incoming purchaser.

There are significant water entitlements, including a Lower Murrumbidgee Groundwater (Zone 3) Water Entitlement (6018ML), a Murrumbidgee River - Supplementary Entitlement (649ML) and a Domestic and Stock Entitlement (341ML).

There is substantial on-farm water storage totalling 7680ML capacit.

Situated in one of the most productive and agriculturally diverse regions in Australia, the area is renowned for horticultural and agricultural enterprises, including permanent plantings (almonds, walnuts, citrus and wine-grapes) and irrigated cropping of cotton and cereals, alongside agricultural pursuits such as dryland cropping and grazing.

On offer in one line or as separate properties, the portfolio is for sale by International Expression of Interest, closing November 19, 2020.

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