More than $10 million is expected for the large-scale Merriwa Pastoral Company cropping portfolio in Victoria’s Mallee region, at a time of strong seasonal conditions and commodity prices.
Spanning just over 1,484 hectares west of Kerang, the cropping enterprise has an approximate arable area of 1,436 hectares and consists of three properties, known as Home (about 373 hectares), Estate (420 hectares) and Ryans (over 691 hectares).
Colliers’ Duncan McCulloch and James Beer have been appointed to sell, in one line or separately, portfolio at 230 Baulch Road in Normanville by expression of interest.
They will be acting on behalf of the Hunt family, which has grown wheat, barley oats and canola on the property. Bronwyn Hunt took on the property in 1977 from parents Des and Margery Fenton, who established Merriwa Pastoral Company in 1965. One of the farms that comprised the amalgamation was a soldier settler block.
McCulloch said dryland cropping properties in Victoria, and particularly the Mallee region, are highly sought after in the current climate.
“Strong seasonal conditions and commodity prices, combined with a favourable interest rate environment, are driving demand for agricultural assets across the board, with a particular focus on cropping and grazing properties.
Record crops and commodity prices propelled prime Australian farmland returns to more than 13% over 2021, according to ANREV’s Australian Farmland Index.
“The scale of the portfolio will be attractive to both family farming groups and corporate investors, and the flexibility in being able to offer the properties within the portfolio for sale individually will further drive interest.”
The properties feature highly productive soil types and favourable topography, and receive an average annual rainfall of 357 millimetres.
Improvements include a four-bedroom main residence, three-bedroom dwelling, a cottage, multiple machinery sheds, workshop, hay shed, shearing shed, chemical shed, fuel storage tanks and silo complex.
Infrastructure includes fencing, stock water access to each paddock and a laneway system.
