Property Roundup: Major Murrumbidgee cropping portfolio sold for $88m

11 June 2024
Timothy and Roger Commins have sold their institutional-grade cropping portfolio in the Murrumbidgee Irrigation District. Pic: Supplied.
An article by  Alex McLaughlin

Major Murrumbidgee cropping portfolio sold for $88m

Location: Whitton, NSW

Size: 2,807 ha

Sold price: $88m

Renowned cotton growers Timothy and Roger Commins have sold their 2,807ha institutional-grade cropping portfolio located in the Murrumbidgee Irrigation District.

Located 3km from Whitton and 17km from Darlington Point, the portfolio is understood to have sold for $88 million, to a private domestic investor who has added to their existing landholdings in the NSW Riverina, according to the Weekly Times.

The ‘Commins Portfolio’ was listed for sale by expressions of interest, which included four non-contiguous hubs within an 18km radius — ‘Karwar’ (1,097ha), ‘Whitton Hub’ (1,253ha), ‘The Weir’ (183ha), and ‘Nardoo’ (274ha).

The portfolio was highly developed with 2,244ha (80%) of laser-levelled bankless channel irrigation supported by 1,860ML of on-farm water storage, with an additional 14,112ML of water entitlements (9,700ML of surface water and 4,412ML of groundwater) included in the sale.

The Commins brothers were among the first in the Murrumbidgee Irrigation Area to grow cotton, while also partnering with fellow growers Larry Walsh, John and Gerard Toscan and Scott and Anita Hogan to build Southern Cotton’s $20m gin at Whitton.

LAWD senior director Danny Thomas and director Erica Semmens handled the sale.


30,000ha beef enterprise in QLD’s Whitsunday region up for grabs

Location: Collinsville, QLD

Size: 31,474ha

For sale price: N/A

‘Gattonvale Holding’ renowned for breeding and finishing prime bullocks and cull cows, is set to change hands after 62 years.

The property has been offered for sale on a walk-in walk-out basis with a 4,900-head Santa Gertrudis cattle herd included in the sale.

Located 144km from Bowen, 180-190km from Proserpine/Airlie Beach, 265km from Mackay, 330km from Townsville and 460km from Rockhampton.

The holding was estimated to support 7,500 adult cattle equivalents, with the majority of the herd available meeting Borthwick’s and Nature’s Fresh premium grass-fed brand specifications.

The property benefits from an average annual rainfall of 700mm (28 inches) and featu.

res frontage along the permanent Bowen River. Additionally, the property has a 35-megalitre water allocation.

Accommodation includes a five-bedroom homestead, a modern three-bedroom house, and two dongas at 'Emu Plains'.

The vendors of ‘Gattonvale Holding’ will transfer their HK1 stock brand to the new owner, with extensive plant and machinery also included in the sale.

Mike Barry and Vince O’Brien of Shepherdson and Boyd are handling the sale.


Retirees chase $15m for Central Vic mixed grazing property

Location: Baringhup, VIC

Size: 1,347ha

Sold price: $4500/ac

An impending retirement plan has lead to 1347ha of ‘reliable and well-weld’ country entering the market in Central Victoria.

The vendor has listed the property at a price of $15m with estimates of $4500/ac ($11,120/ha).

The tract of land is located 5km from Baringhup, 37km to Bendigo, and 154km from Melbourne via the Calder Highway.

The listing includes three lots; ‘Lisoux’ (685.12ha), ‘Denning Rise’ (351ha), and ‘Hillside’ (311ha).

The property offers opportunities for cropping, but is already well set up to operate as a sheep grazing enterprise.

Notable infrastructure across the holdings includes two, three-bedroom homesteads, two shearing sheds, machinery shed, workshop and steel sheep yards.

Selling agents from Alister Kemp and Nick Byrne from Nutrien Harcourts Bendigo Rural are handling the sale.


Macquarie River canola and cotton country relisted after three years

Size: 1,148ha

Location: Narromine, NSW

For sale price: N/A

Macquarie River irrigated and dryland cropping country between Dubbo and Narromine in central western NSW, has been listed for sale with significant water entitlements.

The two contiguous properties known as East ‘Cooltah’ (462ha) and ‘Karnang’ (686ha), have been listed for sale by a two-stage Expression of Interest campaign.

Water entitlements include 350ML Macquarie and Cudgegong regulated river water, and 998ML Upper Macquarie alluvial groundwater.

Notable infrastructure includes 250ha pivot spray irrigation and 220ha lasered flood irrigation supported by 800ML on farm storage. There is also a five-bedroom modern home.

The holdings are utilised for the production cotton, winter cereals and canola crops, with 680ha sown to dryland winter wheat and 105ha prepared for 2024-25 cotton.

No price guide for the property has been disclosed. However, the recent sale of the 3250ha ‘Bowen Park’ within the Macquarie River region, fetched $30m plus, with more than 4000ML of water entitlements included in the sale.

The properties have been offered for sale by Expression of Interest with stage one closing July 16, 2024.

Offers must consist of separate non-binding cash offers for either or both of ‘East Cooltah’ and ‘Karnang’.

Ian Robertson and Mark Mudford of LAWD are handling the sale.


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