Paraway to part with $50 million plus property bundle
- By: "Farm Tender" News
- Agri Political News
- Feb 14, 2019
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One of Australia’s largest pastoral land owner/operators in Australia has moved to divest over 16,000ha of dryland and irrigated property in New South Wales.
Paraway Pastoral Company, which operates large-scale sheep and cattle enterprises and has a combined landholding of more than 4.4 million hectares, has listed three packages for individual sale, including Laura Downs, Paddy’s River and Bundemar Park.
Laura Downs is the amalgam of five smaller landholdings: Polli Boomi and Black Hill (717ha), Laura Downs (1,006ha), Wexford (1,311ha) and Moonambil (4,743ha). Located in the cropping district east of Coonamble, where rainfall is positively influenced by the Warrumbungle’s, the property features a highly efficient layout based on 1.6km runs and fit-for-purpose improvements – underpinning a turn key broad hectare cropping platform. The property is being offered in one line or as separate contingent assets.
Paddy’s River at Trangie, located within the Central West region of New South Wales, is the aggregation of three properties: Paddy’s River (1,857ha), Furnehurst (1,054ha) and Gleneve (454ha). This aggregation is a premium cropping, grazing and horticultural asset, underpinned by 5,410 megalitres of General Security Water Entitlements and benefitted by proximity to several large centres and sector-specific markets and services. The vendors are open to considering offers in one line or as sperate assets.
The third property, Bundemar Park, is a highly productive, diverse and efficient landholding, supported by reliable summer and winter grain production, with irrigation and grazing capability. It combines two holdings, including Bundemar Park (4,589ha) and Maranoa (1,505ha), and is also based at Trangie. Offers are invited for both properties separately or in one line.
CBRE’s Col Medway, Ian Robertson and Richie Inglis are seeking buyers via International Expressions of Interest campaigns, all closing in the month of March.
Mr Medway noted; “Each of these landholdings represent an opportunity to secure a significant landholding envied for scale, productive capacity and turnkey capability.”
“The vendor will consider offers for immediate access, following an exchange of contracts, to facilitate the establishment of the purchaser’s desired winter crop program,” Mr Medway added.
“The flexibility of the vendor to consider offers for each aggregation as a whole or as individual properties opens up each aggregation to all sectors of the market, including neighbours, family farming businesses and institutional investors.”
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