Each week, we take the pulse of rural property — from sales data to who’s making headlines. Check out this week's report from Kylie Dulhunty.
Size: 47,677ha
Location: Near Kaniva, Victoria
Sale method: International EOI
Price Guide: Up to $123 million
Victoria’s biggest farm, the vast 47,677ha Telopea Downs, has been listed for sale just seven years after being acquired by family-owned wool producer AJ & PA McBride for a then-record $70 million.
Located near Kaniva on the South Australia–Victoria border, the aggregation of 11 properties is a major mixed farming enterprise, running around 85,000 Merino and crossbred sheep, more than 1100 cattle, and a broadacre cropping program that includes wheat, barley, lupins, beans and canola.
It has also been home to the McBride Angus beef stud since 2023, which will be relocated to another South Australian property following the sale.
Colliers Agribusiness directors Jesse Manuel and Tim Altschwager are handling the expressions of interest campaign, expected to launch this spring.
Agents have not disclosed a price guide, but McBride’s accounts valued the property at up to $123 million.
Chief executive Nathan Wessling said the divestment aligned with McBride’s long-standing approach of periodically realising capital gains.
“If you look back over McBride’s history, you’ll see there has been a strategic divestment around each decade and the sale of Telopea Downs is consistent with that investment strategy,” Wessling said.
“Indeed, it’s a real success story, having achieved the growth anticipated more quickly than expected, off the back of a solid seven-year performance for Australian agriculture,” he added.
“As we prepare for the next generational shift, it makes sense to ensure there is sufficient liquidity in the business, while continuing to position the company for growth in a strong, united and sustainable way,” Wessling said.
“We are very committed to continuing to play our role in the future of the Australian agricultural sector as a proud producer of Merino wool and operator of other agricultural interests.”
McBride employs 90 staff across its 11-property portfolio and said it would seek to redeploy all Telopea Downs employees within its network.
Colliers’ National Director Jesse Manuel said Telopea Downs was a significant farming operation that had benefited from the past and present owners’ continued land and pasture improvement program.
“Telopea Downs benefits from over 27,000ha of clay improved country supporting established renovated pastures and a large-scale cropping program,” Mr Manuel said.
“As paddocks have undergone pasture renovation, associated fencing and water infrastructure have also been improved, comprising the upgrading or replacement of fencing, and the installation of tank and trough water systems.”
Treasurer Jim Chalmers has left the door open to revisiting a key provision in Australia’s free trade agreement with the United States, after revelations the Mormon Church spent almost $500 million snapping up farmland without scrutiny from the Foreign Investment Review Board (FIRB).
Responding to Nationals leader David Littleproud in Parliament recently, Chalmers said it was important that “foreign investment arrangements keep pace” with changing circumstances.
While reiterating that Australia welcomed foreign capital, he stressed that it must be “in our national economic interest.”
.png?width=479&height=469&name=Jim%20Chalmers%20(pic%20from%20his%20Facebook).png)
Treasurer Jim Chalmers. Pic: Supplied
The comments come after the Church of Jesus Christ of Latter-day Saints, through its investment arm Farmland Reserve, purchased four large farming enterprises in NSW and Queensland in just six months.
Under the 2004 US–Australia free trade agreement, American investors can buy agricultural assets up to $1.46 billion each without FIRB approval, while other foreign buyers face a cumulative $15 million cap.
Littleproud argued the provisions were pricing local farmers out of the market, while Grain Producers Australia chief executive Colin Bettles described the carve-out as a “loophole” that urgently needed reform.
Bettles warned that half a billion dollars in farmland purchases with “zero scrutiny” risked undermining sovereignty and food security, calling for a parliamentary inquiry to examine whether current rules were “fit-for-purpose.”
Chalmers acknowledged the thresholds were set 20 years ago and said cases like this required “serious consideration” to ensure the system remains effective.
Size: 30,756ha
Location: McKinlay, QLD
Sale price: Unavailable
Elrose Station in north-west Queensland has returned to local hands, with the 30,756ha property going under contract to a prominent family with pastoral interests across several states.
The buyer and price remain undisclosed.
Located 46km from McKinlay and 64km south-east of Cloncurry, Elrose is regarded as one of the region’s premium backgrounding and finishing operations.
It can run about 5800 Adult Equivalents across freehold and leasehold land, with a mix of Mitchell and Flinders grass downs, creek and river frontage, and gently elevated red tablelands.
Natural water security is a hallmark, with 25km of double frontage to the Fullarton River, multiple dams, bores and seasonal waterholes.
The station was offered bare of stock but included substantial plant, vehicles and equipment, as well as infrastructure such as a six-bedroom homestead, workers’ quarters, three cattle yards, a large undercover sale complex and numerous sheds.
Since 2021, upgrades have included new water points, fencing improvements and upgraded yard facilities.
Colliers Agribusiness and Prophurst managed the sale.
When Elrose Station was listed, Colliers National Director Jesse Manuel said the sale was notable given the property had only changed hands once in more than 100 years.”
“The location of Elrose Station positions it as a strategic fit for live export operations, and with its moderate climatic features and tick-free status, the property is also able to support herds with a more Bos Taurus influence to access higher value domestic markets,” he said.
Elrose was marketed alongside Neumayer Valley Station, a 143,000ha Gulf Country breeding property fronting the Alexandra and Leichhardt Rivers.
Neumayer Valley remains on the market, offered with about 16,000 Brahman cattle, water entitlements and a renowned Grey Brahman herd.
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.
