Australia’s biggest sheep station sold in massive deal-UK buyers make bold move

Size: 1,046,323ha

Location: Rawlinna Station, WA (400km east of Kalgoorlie)

Sale price: Not disclosed

Australia’s largest sheep station will be sold after an agreement was struck between Jumbuck Pastoral and the UK-owned Consolidated Pastoral Company for ‘Rawlinna Station’.

Comprising 1,046,323ha, and with a boundary fence spanning 400km, “Rawlinna Station’ has been sold on a going concern, walk-in, walk-out, basis, including the flock of sheep.

Elders Executive General Manager Tom Russo said the sale showed confidence in the industry.

“The sale process drew significant interest from the market, including large sheep production enterprises from both the east and west coast, new entrants and international investors,” he said.

CPC is owned by Guy and Julia Hands through the Hands Family Office and Terra Firma is the investment manager of CPC.

The UK-owned agribusiness owns and operates a portfolio of nine station aggregations in Australia, with an asset base of more than $1.2 billion.

Across more than 3.2 million hectares, CPC cares for more than 300,000 head of cattle, 45,000 goats and a diverse range of crops in Australia. Pic: Supplied

CPC Chief Executive Officer Troy Setter said the acquisition of ‘Rawlinna Station’ would see the company return to large scale sheep and wool production in Australia.

“Our owners, the Hands family, have held significant sheep production properties in the UK and we believe now is a good time to invest in Australia’s sheep and wool industry,” he said.

“Rawlinna represents an opportunity for us to reenter the Australian sheep production space at scale and accelerate our ambition of building out a quality diversified portfolio by both geography and production type.”

Mr Setter said despite having assets in cattle, goat, sheep and wool production, natural capital and cropping, CPC had no intention of converting ‘Rawlinna Station’ away from sheep production.

“We will aim to build on the legacy of Jumbuck Pastoral by further developing Rawlinna to increase its sheep and wool production capacity in the years to come,” he said.

Jumbuck Pastoral is one of the largest livestock production enterprises in Australia.

Established in 1888, it is a family owned company with vast land holdings across the country.

Established pastoralist, Hugh MacLachlan, first visited what would become ‘Rawlinna Station’ in the mid-1950s when the Indian Pacific train he was travelling on from South Australia to Perth, stopped at a remote siding called Rawlinna.

He recognised that the siding had good quality underground water and, being an established pastoralist, he could see the miles and miles of open saltbush, bluebush and grass plains.

He saw the land as a blank canvas and an opportunity to design the country’s most efficient sheep station.

The first survey peg went in the ground in the 1960s and with meticulous planning and substantial investment, ‘Rawlinna Station’ was born.

Mr MacLachlan said ‘Rawlinna Station’ would always occupy an important place in his family’s history.

“We are delighted that it will be passed to a custodian the caliber of CPC, with a strong record of sustained investment in our industry and whose owner takes a multi-generational view,” he said.

“We look forward to seeing CPC invest in the next stage of Rawlinna’s development and the career opportunities that will be provided to the Rawlinna management team.”

All current ‘Rawlinna Station’ employees will be offered ongoing roles with CPC.

The sale and purchase agreement for ‘Rawlinna Station’ is conditional upon CPC receiving Foreign Investment Review Board (FIRB) approval for the acquisition and the customary Western Australia Government approval to the transfer of the pastoral lease.

American investment group lists large-scale NSW farming enterprise for sale

Size: 34,523ha

Location: Lachlan Valley, NSW

Sale method: EOI closing at 12pm (AEDT) on April 17

Price Guide: N/A

A major agricultural aggregation in NSW’s highly regarded Lachlan Valley is up for sale, presenting a rare opportunity for investors to secure an institutional-scale mixed farming enterprise.

US-based MERS Global Investments LLC is divesting its Merrowie and Sunland Aggregation, which spans 34,523ha and includes a diverse mix of irrigated and dryland cropping, grazing, and horticulture.

The sale includes Merrowie’ (32,778ha), Sunland (1,738ha), and the Merrowie Grain Facility (7ha).

Underpinned by 35,938ML of highly secure water entitlements, the aggregation supports various commodities, including cotton, vegetables, grains, cereals, almonds, beef, lamb, and wool.

Significant investment has been made in irrigation infrastructure, with 195ha of GPS-levelled bankless channel irrigation, 5,244ha of laser-levelled flood irrigation, and 2,966ha of lateral move and centre pivot irrigation.

LAWD Senior Director Danny Thomas said the aggregation represented a compelling value proposition due to its scale, location, and diversified income streams.

“The Lachlan Valley is renowned for being a highly productive agricultural region with water security and access to major commodity processing centres, which is exemplified by the significant institutional investor footprint in the immediate surrounds,” Mr Thomas said.

“The current vendors determine the crop mix across the aggregation by seasonal water availability, contracted volumes, commodity prices and agronomic benefits.

“This means the vast range of commodities produced each year provide diverse income streams, mitigating single commodity risk.”

Dryland cropping spans 3,323ha, ensuring a diversified operation adaptable to seasonal conditions.

Water is sourced from secure regulated sources, including Lachlan River’s High and General Security allocations and Groundwater entitlements. Pic: Supplied

In the 2023-24 financial year, the aggregation produced over 33,000 bales of cotton, 25,000 tonnes of winter crops, 18,000 tonnes of beetroot and sweet corn, and 290 bales of wool.

A recently developed 450ha almond orchard will commence commercial production this year, with a further 335ha earmarked for future almond and pistachio expansion.

Livestock operations span 18,949ha of grazing land, supporting a self-replacing Merino flock and an Angus cattle herd.

Grain production is bolstered by the Merrowie Grain Facility, which offers 32,100 tonnes of storage capacity, including 5,400 tonnes in silos, 26,700 tonnes in bunkers, and 260 tonnes for fertiliser storage.

Additional infrastructure includes shearing sheds, cattle yards, machinery sheds, airstrips, a weighbridge, and a range of accommodation options for permanent and seasonal workers.

The Merrowie and Sunland Aggregation is being offered for sale via an Expressions of Interest campaign, closing at 12pm (AEDT) on April 17.

Lifestyle grazing property in South Burnett region heads to auction

Size: 146.3ha

Location: Runnymede, QLD

Sale method: AuctionsPlus auction, April 10 at 11am (AEST)

Price Guide: N/A

A prime lifestyle grazing property in Queensland’s sought-after South Burnett region is set to go under the hammer via online auction on AuctionsPlus in April.

Marketed by Bart Norris of JLL Agribusiness, ‘Avonlea’ spans 146.3ha on a single freehold title and offers a blend of productive pastures, secure water resources, and well-maintained infrastructure.

Positioned just two hours from Brisbane and the Sunshine Coast, at 29 Runnymede Estate East Rd, Runnymede, the property is an attractive option for graziers and lifestyle buyers alike.

Mr Norris said water security was a key feature of the property with ‘Avonlea’ benefitting from two semi-permanent creek systems, a solar-operated bore, and a 5,000-gallon water tank, alongside an established surface dam.

The property’s stock-proof fencing and steel panel yards ensure it is well-equipped for livestock operations. Pic: Supplied

The landscape features duplex soils, deep red clay loams, and rich brown earth, complemented by diverse vegetation including Queensland Bluegrass, Kangaroo Grass, and Leafy Panic Grass.

The established homestead complex includes a detached two-bay garage and ample water storage, providing a comfortable rural retreat.

Adding to its appeal is its proximity to the Bjelke-Petersen Dam, just 20 minutes away, offering 2,250ha of freshwater for recreational activities such as fishing and boating.

“It’s also only a stone’s throw from the Bjelke-Petersen dam,” he said.

“It’s combining the bush lifestyle with the country lifestyle and the lake frontage lifestyle.”

‘Avonlea’ will be auctioned at 11am (AEST) on April 10 through AuctionsPlus.

Warakirri launches new dairy investment strategy amid rising global demand

Warakirri Asset Management has unveiled a new Australian and New Zealand Dairies strategy, aiming to capitalise on growing global demand for milk and dairy products.

The initiative will focus on acquiring and operating a diversified portfolio of investment-grade dairy farms and infrastructure, with a target of delivering risk-adjusted returns exceeding 10% per annum.

Aurora Dairies Chief Executive Officer Ben James will lead the strategy, with Warakirri managing Aurora Dairies since 2019, growing into a major dairy platform spanning 57 farms across six regions in Australia and New Zealand.

It is the largest milk producer in Australia.

Warakirri’s Managing Director Jim McKay highlighted the structural opportunity within the dairy industry.

“We believe significant long-term investment opportunities continue to exist in the dairy industry and have seen a constant increase in demand for milk and dairy products both domestically and in the Asia Pacific region,” he said.

“There is a global supply deficit in milk looking out to 2030 and beyond of approximately 20 million tons of liquid milk supply which is approximately a 17% deficit to total demand.”

With its new strategy, Warakirri plans to integrate an emissions reduction framework and a strong social responsibility approach, supporting the regions in which it invests.

The launch comes as Warakirri transitions from managing Aurora Dairies for a global institutional investor.

Following a decision by the investor to internalise Aurora’s management, Warakirri is now in a position to open its dairy expertise to new investors.

Mr James sees long-term opportunities ahead.

“Dairy is the third largest food source by volume globally and not only is total milk consumption growing, but per capita consumption is growing with around 15% of all new food consumption via dairy products,” he said.

“We are very excited about the future for dairy and the significant opportunity in front of us.”

Kylie Dulhunty is a journalist with more than 20 years experience covering everything from court to health. Today, Kylie loves nothing more than turning market trends, industry insights and epic property sales - residential, rural and commercial into captivating stories.