AUSSIES BUY BACK THE FARM FOR $30M

Written on the 9 February 2016

AUSSIES BUY BACK THE FARM FOR $30M

IN A market dominated by offshore buyers, a local farming syndicate has brought a major parcel of agricultural land in Victoria back into Aussie hands in a deal worth $30 million.

The syndicate, comprising established regional farming families, has secured the 5200ha cropping and grazing portfolio from UK-based funds manager Altima Partners, which held it through corporate entity Demeter Australia Farming.

The sale was achieved through an off-market deal brokered by CBRE Agribusiness agents Duncan McCulloch, James Beer and Danny Thomas.

Thomas says the local syndicate beat a spirited campaign from domestic and international parties.

"The Demeter Farming offering represented a rare opportunity to secure a large scale portfolio of assets in a highly reliable and productive agricultural region," he says.

"We conducted an off-market sale process, whereby we directly targeted and approached domestic and international parties with the opportunity, and ultimately it was the ability of the local syndicate to act quickly and on cash terms that was the key determinant for the vendor."

Thomas says the properties have 'a significant level of further potential'.

 


Latest News

OROTON GOES CLICKS AND BRICKS AS PROFITS SLIDE

TWO former Aussie lawyers have turned their passion for fashion into a $15 million dollar international business six ...

MANTRA'S SHARE PRICE SURGE INDICATES 'SUITORS ARE CIRCLING' THE HOTEL GROUP

THE rumour mill surrounding a high-level takeover of Mantra Group (ASX: MTR) is in full production with its shares su...

MELBOURNE CBD GEMS SELL FOR $17 MILLION, MARKING A NEW PROPERTY HOTSPOT

LITTLE Lonsdale Street in the heart of Melbourne's CBD has become a favourite for investors in 2017, following th...

CAN GOOGLE RECOVER FROM GLOBAL CONTROVERSY OVER ITS PROGRAMMATIC ADVERTISING SYSTEM?

IT'S the story that has rocked the world of advertising. The lucrative Google (NASDAQ: GOOGL) advertising system ...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter