TWO institutional-scale Queensland horticulture aggregations have hit the market, to be sold through an expressions of interest process.
Listed through Land, Agribusiness, Water and Development (LAWD), the assets are expected to make more than $100 million combined.
The Gemfields portfolio covers 4386 hectares (10,838 acres) and is an established macadamia, cotton and grazing enterprise near Emerald.
Elliot River Horticulture portfolio produces a variety of vegetables on 667ha (1648 acres) in the coastal Burnett region.
LAWD senior director Danny Thomas said a key feature of both portfolios was their access to substantial and secure water.
"Water security underwrites the production systems of both aggregations and their current operations, and the water associated with these assets is considerably more stable and consistent than horticulture assets found further south," Mr Thomas said.
Gemfields has 6090 megalitres of medium priority water allocations.
Elliot River's irrigation water is sourced from 296ML unsupplemented water allocations and 70ML of irrigation water licences.
The properties were being offered by two separate multi-generational farming families who were reorganising their business operations.
"Over the past 15 years, there has been a rapid institutionalisation of the horticulture sector," Mr Thomas said.
"Like the Gemfields and Elliot River vendors, there have been a number of second and third generation families who have built extraordinary, high-value cropping assets which are currently in strong demand from institutional-grade buyers and farming families looking to expand operations."
Gemfields
Gemfields consists of two non-contiguous landholdings, Gemfields (779ha) and Cypress and Bauhinias (3607ha).
Gemfields has a 455ha macadamia orchard and irrigated cropping enterprise focused on producing cotton, sorghum and wheat, as well as areas of dryland cropping.
The asset also features a macadamia plant nursery producing about 150,000 trees. More than 900ha are suitable for further tree development.
The property is also highly suited to cattle grazing.
There is 728ha of laser-levelled flood irrigation and 125ha under centre pivots.
Soil types include soft black/grey cracking clays with lighter red low ridges, red brown clay loams to heavy grey-brown clays, black soils, forest red duplex soils and darker scrub soils.
Mr Thomas said the portfolio was expected to sell for about $70 million and was available as a whole or as two separate assets.
Elliot River Horticulture
The Elliot River Horticulture portfolio comprises of Carina Downs (299ha) Gillen Greek, (318ha) and Logging Creek (50ha) and is expected to make more than $30 million.
The vendors are also open to a long-term lease, with the proposed rent in the order of about $2.55 million a year.
The irrigated vegetable enterprise focuses on the production of capsicum, tomatoes, and zucchinis.
Supported by quality soil types, including free draining grey to brown sandy loams, with some areas transitioning toward a self-mulching black loam.
Expressions of interest close with LAWD on August 4.
Contact Danny Thomas, 0439 349 977, or Simon Cudmore, 0433 160 413, LAWD.
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