Property

South-west Qld country listed by Chinese owners for $100m

Property editor Linda Rowley, 26/10/2023

BLUE chip south-west Queensland properties Undabri and Yambocully have been listed for sale for around $100 million by their Chinese owners.

Located near Goondiwindi, in the Border Rivers region, the aggregation has a history of growing summer and winter crops in addition to supporting a cattle enterprise.

Close to cotton gins, grains receival sites and feedlots, the 13,920ha have been aggregated over 10 years by the Shanghai-based private investment group Oriental Agriculture.

In 2015, the company paid more than $30m for Undabri including extensive water licences. A year later, it secured the neighbouring Yambocully from the Corish family for close to $20m on a walk-in walk-out basis.

Today, the aggregation consists of six holdings over two contiguous properties – 10,444ha Undabri and 3475ha Yambocully.

It is currently being managed by the Australian owned and operated Customised Farm Management, with potential to engage the rural asset
management company beyond the sale.

Suited to all buyers

JLL Agribusiness agents Clayton Smith, Chris Holgar, and Geoff Warriner have been appointed to sell the large-scale irrigated and dryland farming opportunity.

Mr Smith believes it will appeal to local, domestic and foreign buyers, particularly existing private operators seeking a bolt on acquisition on
Goondiwindi’s doorstep.

“The tightly held Border Rivers region is considered to be one of the premier irrigated and dryland cropping regions in Australia, representing a mature agricultural investment landscape underpinned by a large institutional footprint.”

Mr Smith said the aggregation is capable of running up to 1500 breeders but is currently mostly destocked.

Annual irrigation water entitlements exceed 15,000ML including 8399ML of supplemented and un-supplemented entitlements via the Yambocully Scheme (plus overland flow) and more than 10,500ML of on-farm storages.

The mostly flat, deep and fertile black self-mulching and cracking-clay loams (typical on the vast flood plain) are suited to growing a variety of summer crops (including cotton and sorghum) and winter cereals (canola and chickpeas).

There are 1700ha of irrigation country consisting of both flood and overhead spray (lateral and centre pivots), 8100ha of dryland farming and 4110ha for grazing, infrastructure and support lands.

Improvements include multiple residences and sheds, elevated silos and modern livestock handling facilities.

The Undabri and Yambocully Aggregation is being offered in one-line or as separate assets via a two-stage expressions of interest campaign closing on November 23.

 

 

 

 

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