Property Round-up: Mormon Church's mammoth investment in SE QLD aggregation
APlus News, Australia/September 3, 2024
By Alex McLaughlin
The investment arm of the Mormon Church has secured the expansive 26,885 ha “Worral Creek Aggregation” in southern Queensland.
Melbourne-based Warakirri Asset Management, in partnership with Alkira Farms, a subsidiary of US agricultural investment giant Farmland Reserve, has acquired one of Australia’s largest privately owned irrigation and dryland farming operations in deal tipped to be worth between $300 million to $350 million.
The vendors, Robert and Jennie Reardon, are renowned cotton and cattle farmers who offered the portfolio, including seven properties utilised for the production of cotton, crops and cattle, as well as significant water entitlements, totaling to 65,900ML.
The purchasers, Utah-based Farmland Reserve is backed by the Church of Jesus Christ of Latter Day Saints, also known as the Mormon church, will add the southern Queensland holding to their extensive farmland portfolio which his largely based in the US and Latin America.
The seven properties within the aggregation are located between Talwood and Mungindi. The Reardon family acquired “Worral Creek” in 1990 and have significantly developed the portfolio during their over 30-year tenure.
The “Worral Creek Aggregation” will be managed by Solterra, a new cropping business led by Warakirri’s agricultural executive Adrian Goonan on behalf of Alkira.
JLL Agribusiness senior directors Clayton Smith, Chris Holgar and Geoff Warriner handled the sale alongside Oxley Capital Partners Managing Director, Ben Craw.
VIC’s Western District ‘Winnidad Pastoral Aggregation’ up for grabs
The 'Winnidad Pastoral Aggregation', a commercial scale high-rainfall grazing asset currently utilised for sheep and cattle breeding, combined with wind turbine rental income, situated in the prized Western District of Victoria has entered the market.
The aggregation includes eight separate properties ranging in size from 60ha to 590ha. The properties are for sale in one line or as separate assets.
The portfolio has an operational scale of 35,000 dry sheep equivalents (DSE) comprising 9,000 joined composite ewes producing trade lambs and 700 calving cows and heifers and replacements.
Providing the best of enterprise flexibility with multiple operations such as the breeding cattle and prime lambs production underpinned by reliable renewable energy income provided by 13 wind turbines.
Although dairy is not in the current enterprise mix, it has been previously with the properties being ideal dry blocks for nearby dairy enterprises.
Accommodation features the historic four-bedroom 'Winnidad Homestead'.
The homestead is located 8km from Mortlake, and is across the road from WVLX allowing for cattle to walked to market.
Expression of Interest for the 'Winnidad Pastoral Aggregation' will close on October 17, 2024.
LAWD Senior Director Col Medway and Sales Executive Patrick Kerr are handling the sale.
Warrumbungle’s mixed grazing opportunity listed for $8m
North-west NSW mixed farming enterprise "Bouwick" has entered the market for the first time in 40 years. Located west of the renowned Warrumbungle’s mountains, the property has been a proven performer, bursting with potential and will be sold on a walk-in walk-out basis.
Located 53km east of Coonamble and 63km west of Coonabarabran, the soil type is predominantly red loams running back into heavy green chocolate self-mulching soil.
“Bouwick” has 1,100ha of arable country with 202ha sown to winter wheat. The property further benefits from a mix of seasonal pastures and grasses.
Operational infrastructure includes steel cattle yards, grain storage, a three-stand woolshed with steel sheep yards and shearers quarters.
Accommodation includes a four-bedroom homestead and an additional three-bedroom cottage.
David Grant from David Grant Livestock Agency is handling the sale.
Temora's quintuplet – ‘Pineview’ aggregation enters the market
The 'Pineview Aggregation' consists of five stand-alone properties in the highly regarded Temora and Coolamon district.
The vendor operated the aggregation under a highly productive cropping enterprise with an emphasis on soil fertility and weed management.
The properties for sale are to be purchased as a whole or in five separate lines.
'Pineview' (146ha), located 22km south-west of Temora in the famed Mimosa district, is subdivided into three main paddocks. Soils are red loams, and the topography is gently undulating. All paddocks have had lime, gypsum and chicken manure spread.
Accommodation includes a fully renovated four-bedroom house.
Notable infrastructure includes ample shedding, a four-stand stand shearing shed with yards, 250-tonne silo with hydraulic auger with additional grain storage as well as an electronic weigh bridge.
The largest offering 'Marooma' (390ha) is located 20km west of Temora in the Betric district. Since purchasing the property, the vendor has made significant improvements to the soil using a combination of lime, gypsum and chicken manure. The property has been set up as a cropping block with an emphasis on larger paddocks and efficient farming.
Accommodation includes a three-bedroom fully renovated cement rendered house. Infrastructure includes ample grain storage, as well as sheep yards with small a shearing shed.
'Coo-ee' (315ha) is located 25km south-west of Temora in the Rannock district. This property is best suited to cropping with red loam soils and flat open arable paddocks.
'Snowies' (204ha), is located 9km northwest of Coolamon, and has also been utilised as a cropping property.
Located 4km north of Coolamon, 'Lucas's' (190ha), is a productive cropping property consisting of red loam soils. The property has been developed for highly productive farming practices, with a similar pasture profile to 'Snowies' and 'Coo-ee'.
The present owner has used best practice farming techniques to ensure every acre across the properties have performed to their optimal ability.
The aggregation is being offered for sale through a two-stage Expression of Interest process. The first stage will close on October 9, 2024 and will seek non-binding offers from interested parties.
Bruce Holden from Miller & James Real Estate Temora is handling the sale.
To see more documents/articles regarding this group/organization/subject click here.
