Kooba's 20,000ha aggregation on the market for 'north of $70m'

Kooba Ag is majority owned by Mr Corrigan and David Fitzsimons and counts Canadian superannuation fund PSP Investments as a minority investor.

Its 19,896-hectare aggregation fronting 15 kilometres of the Murrumbidgee River near Hay, NSW, will be sold by expression of interest, with the first stage closing on April 14.

LAWD senior director Danny Thomas said Kooba Ag was looking to redirect its capital.

"There's some nut development potential, for say pistachios, there, but that's non-core for them," he said.

"They want to roll that money out of those assets and put more almonds in on the assets around Darlington Point."

The Kooba Aggregation is largely farming a combination of cotton and cattle with plenty of water across three holdings plus one lifestyle-sized property, all within a 13-kilometre radius of each other.

There's the 5896ha Pevensey, 6223ha Glenmea, 7760ha South Farm and 17ha Yang Yang.

LAWD is offering the aggregation as a whole or any combination of the properties.

More than a third of the land, at 7173ha, is laser-levelled row crop, there's 1561ha of irrigation support, 173ha under lateral sprays and 108ha under flood irrigation.

Another 586ha is approved for development plus there's 2270ha of formerly farmed and partially-irrigated land suitable for redevelopment.

Hay has an annual average rainfall of 340 millimetres and Kooba has surface and groundwater entitlements.

There's 22,922 megalitres of on-farm water storage, 17,000ML of Murrumbidgee River - Supplementary Entitlement and access to Lower Murrumbidgee Aquifer (Zone 3) groundwater.

LAWD is marketing Kooba as suitable for a wide range of row crops or permanent plantings and points out that the aggregation is close to four cotton gins, four nut processing facilities and four feedlots.

Pevensey is an irrigated cropping enterprise, mostly planted to cotton yielding a five-year average 11.61 bales a hectare in an annual rotation with winter cereals. It's also grown maize, sorghum, rice and cereals.

But almost two-thirds of Pevesney is dryland and LAWD said both sheep and cattle had grazed it in the past.

Its relatively level fields comprise a mixture of heavy black and brown soils.

There are several sheds, cattle yards and silos, while accommodation includes a five-bedroom weatherboard homestead on the banks of the Murrumbidgee River, two-bedroom and three-bedroom cottages, plus four new self-contained Jayco workers cottages.

Glenmea and South Farm, like Pevesney, has a mix of irrigation and dryland country growing cotton and cereals in combination with cattle grazing.

Yang Yang, on the other hand, is a 17ha rural lifestyle property with two dwellings set on the banks of the Murrumbidgee.

Kooba's ownership by PSP has been relatively brief but LAWD senior director Danny Thomas said it had been under the same management for about a decade.

Tandou had bought the properties in 2013 and 2014, then been bought out by walnut business Webster Limited in 2015, which was then partially taken over by PSP in 2020.

Contact LAWD agents Danny Thomas on 0439 349 977 or Elizabeth Doyle on 0400 102 439.

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