THE sale of Tasmania’s largest farm and the New South Wales mixed farming holding Erins View feature in this week’s review of property results.
Gunn Agri expands with northern NSW’s Erins View
Tasmania’s largest farm on verge of changing hands
Tasmania’s largest farm on verge of changing hands
London-based specialist alternative asset manager Gresham House is awaiting Foreign Investment Board Review to secure the largest farm in Tasmania for large-scale pine plantation.
The 21,744ha, Rushy Lagoon is a grazing and irrigated and dryland cropping opportunity in the state’s far north-east. It comprises two contiguous properties – 20,523ha Rushy Lagoon and 1221ha East Wyambi.
Rusy Lagoon was offered for sale in March 2018 by the late Allan Pye, one of New Zealand’s richest farmers. It was anticipated to make $70m, but was subsequently withdrawn following an extensive expressions of interest campaign.
It returned to the market in October 2024, with industry sources suggesting it could make north of $100 million.
The Australian portfolio of Gresham House, backed by Australian superannuation fund NGS Super, manages 22,200ha of radiata pine forests in the ‘Green Triangle’ region of South Australia and Victoria.
It is understood the firm plans to convert parts of Rushy Lagoon into large-scale pine plantations for timber production, shifting its use from its historical beef and dairy operations.
Earlier this month, the proposed conversion sparked significant pushback from farming advocacy groups like state body TasFarmers, which raised concerns about food security and the impact on the state’s agricultural output, as well as a lack of transparency in the FIRB process.
While approval was expected to be handed down in March, it is understood the FIRB has requested additional time to review the application due to the complex nature of the $100 million-plus deal and significant public and political pressure.
LAWD agents Danny Thomas and RMS Advisory agents Peter Ryan and Jarrod Ryan, who are handling the sale, could not be contacted for comment.
However, during the marketing campaign, Mr Ryan said further investment in pasture improvement, irrigation, paddock planning and stock water systems would significantly increase sheep and cattle numbers. Mr Thomas identified potential future income streams from lease payments from a proposed wind farm development, sand mining royalties and carbon offset payments.
Rushy Lagoon has 1170ha developed to irrigation (centre pivot), a 693ha irrigated dairy platform offering significant scope for expansion and an estimated carrying capacity of 85,000 Dry Sheep Equivalents.
It receives an average rainfall of 750mm a year and benefits from substantial water entitlements (12,548ML) and on-farm water storages (3935ML) and a permit to construct an additional 2500ML dam.
Infrastructure includes a 20-stand shearing shed.
Gunn-Agri expands with northern NSW’s Erins View
Agriculture and natural capital asset manager Gunn Agri is expanding its north-west New South Wales footprint after paying around $20 million for a grazing and dryland cropping enterprise.
The 3150ha Erins View was offered for sale by the Boyd family after six years of ownership. It spans six adjoining holdings and is located near Graman and 45km north-west of Inverell.
LAWD agents Simon Cudmore, George Barton and George Berry were unable to disclose the buyer or the price paid; however, during the marketing campaign, Erins View was anticipated to achieve around $20m.
Around 2009ha runs 22,000 dry sheep equivalents, with the remaining 1141ha dryland cropping area featuring mostly deep black self-mulching clays with some lighter yellow earths.
The property is situated in a 750mm annual average rainfall region and is also watered by seven equipped bores, 46 dams, frontages to Red Bank Creek and the Macintyre River and 60.5ML of water entitlements.
Infrastructure includes three homes, two cottages, four shearing sheds, four sheep yards, three cattle yards and 1900-tonnes of silo grain storage.
Gunn Agri Partners is currently in an acquisition and sales mode. In northern New South Wales, Gunn Agri operates through its sustainable farming platform Wilga Farming, focusing on transitioning farms to high performing cropping and grazing.
In 2023, it paid around $50m for the 5437ha Burmah Station, comprising four strategically acquired and developed properties operated as a single holding, located 10km from Graman and 30km north-east of Warialda.
Link to https://www.graincentral.com/property/wilga-farming-buys-burmah-from-paraway/
In 2023 – The Wilga Farming platform paid around $11m for The Glen, a 1237ha cropping and grazing asset property near Inverell. It is located 10km south of Delungra and 40km from Inverell, it boasts 690ha of high performing farming basalt soils growing canola, wheat and field peas.
Link to https://www.beefcentral.com/property/weekly-property-review-recently-completed-sales-75/
In February, Grain Central reported Wilga Farming had completed four acquisitions in the Great Southern region of Western Australia in the past 12 months – 1017ha Gidget, 1035ha Range Montana and 999ha Wimbush (part of the WALT Portfolio) and 1218ha Que Sera – and was actively pursuing additional cropping opportunities.
Link to https://www.graincentral.com/property/wilga-farming-expands-great-southern-footprint/
Earlier this year, Gunn Agri Cattle Fund’s Cunningham Cattle Co placed Goodar Station Aggregation on the market. The 18,339ha spanning three properties includes 7570ha of cropping and 8356ha of grazing country, and is located 40km north-west of Goondiwindi in southern Queensland’s Border Rivers region.
Link to https://www.graincentral.com/property/gunn-agris-cunningham-cattle-co-lists-goodar-station/
Late last year, Gunn Agri listed the 4346ha Rocky Creek Aggregation in northern New South Wales for $18.1m. The 4246ha New England mixed farming and grazing platform with potential value-add opportunities is located 21km north-east of Ashford and 61km north-west of Glen Innes. Estimated to run 17,527DSE or 2337AE, it is currently used to breed and background Wagyu cattle.
Link to https://www.beefcentral.com/property/movement-at-the-station-recent-property-listings-99/
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