Tuesday, September 28, 2021

Australian Property Journal

Latest articles

Rinehart offloads pastoral station for more than $30m

Mining magnate Gina Rinehart’s Hancock Agriculture has sold Nerrima Station for more than $30 million, and a further two pastoral stations Ruby Plains and Sturt Creek ... The 203,000ha Nerrima Station, 480,000ha Ruby Plains and 316,000ha Sturt Creek in Western Australia’s Kimberley region were put on the market after Hancock Agriculture and S. Kidman & Co revealed in November last year plans to sell its pastoral holdings comprising eight properties spanning 1.9 million hectares.

Queensland investor drives to Narrabri Club Motor Inn

The Club Motor Inn has been sold for $4.5 million, nearly 18 months after owners the Narrabri Bowling Club entered into voluntary administration ... Narrabri lies in the heart of the Namoi Valley, around six hours’ drive and 568 kilometres north west of Sydney, in what is an agricultural and administrative centre that is being transformed into one of the state’s largest gas mining regions.

Gunn Agri scoop up avocado orchard after smashing harvest

Fund manager Gunn Agri Partners has picked up an avocado orchard in northern NSW, looking ahead to higher retail prices for the popular fruit after this year’s massive harvest. The group has paid $11 million for the orchard despite avocado prices plunge from as much as $4 to just $1 each this year as strong seasonal conditions in Western Australia particularly created a bumper crop ... Gunn Agri bought the asset for a European institution with a mandate to invest in permanent Australian crops assets.

Low dollar a boon for agribusiness

Strong month-on-month price increases for most commodities saw Australian agribusiness industry conditions rise to record levels, according to Rabobank, and key drivers are expected to hold out to the December quarter. The latest Rabobank Rural Commodity Price Index rose by another 3.26% in August to its highest-ever reading.

Plevna Downs East changes hands after 86 years

Scott Bates and family of Wallumbilla have paid $15.5 million for the fully exclusion fenced Plevna Downs East in south west Queensland, with the Augathella property selling at a record rate of $2,474 per hectare.

Earlier articles

Agricultural sector going full steam ahead

Australia's agricultural production is anticipated to reach a record gross value of $73.0 billion in 2021-22, breaking the $70 billion mark for the first time in history ... Herron Todd White’s latest Month in Review report further highlighted the gains being made across Australian agribusiness and the regions which are leading the industry in innovation.

Packhorse Pastoral plans to rope in $1.5bn of cattle stations

Australian cattle property investment firm Packhorse Pastoral Company has opened its second fundraising as part of plans to buy $1.5 billion worth of rural agricultural land and build mass-scale land regeneration with carbon upside.

Close knit producers buy Buln Gehrin

Three local Merino sheep and wool producers have acquired western Victoria mixed farming operation Buln Gehrin for more than $35 million combined. Located two hours from Melbourne and 15 kilometres from Beaufort, the 1,881-hectare holding is suited to wool, prime lamb, cattle and cropping and enjoys views of Mount Cole and Mount Langi Ghiran.

Farmland harvest strong returns

Australian farmland returns totalled more than 15% over the 2021 financial year, as the sector benefitted from strong seasonal conditions and commodity prices. The latest quarterly Australian Farmland Index from the Asian Association for Investors in Non-Listed Real Estate Vehicles (ANREV) showed income contributed 5.33% and appreciation return 9.36% to the total.

Rural and agricultural land values outstrip residential by 3 per cent

According to the latest ANZ Agri InFocus report, rural land value growth has been outperforming national residential property value growth by a 3% average for the last five years. While the ABS has found that rural land has increased in value by more than 30% in the three years to June 2020.

Farming industry get drought resilience help

“For over a century, CSIRO has been working with farmers and governments to improve life on this great land – but today we’re bringing all of our newest science and technology, from Artificial Intelligence to genetics and smart materials, to bear on overcoming our oldest national challenge – drought,” CSIRO chief executive Dr Larry Marshall said.

Articles

About Australian Property Journal

Since launching in 2003, Australian Property Journal has grown to become the leading online news site for commercial property and residential real estate. Covering rural property and  agribusiness, investment sales and leasing transactions, property research and more, across metropolitan and regional Australia.
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