The four properties in the deal, totalling almost 20,000 hectares, include Pevensey (around 5,896 hectares), Glenmea (around 6,223 hectares), South Farm (around 7,760 hectares) and Yang Yang (less than 20 hectares). The properties are now owned by Gordon Paterson and are all located within 13 kilometres of each other.
More than a third of the aggregation is highly developed to laser levelled row crop irrigation and benefited by secure access to both surface and groundwater entitlements.
Selling agent Danny Thomas from Land Agribusiness Water Development (LAWD) said it’s one of the best deals he’s personally been involved with.
“LAWD brokered a cash deal on short settlement terms between two titans of Australian business, with Chris Corrigan as the vendor, known best for his role as CEO of Patricks Stevedores during the wharfies dispute in the 1990s and Gordan Paterson as the purchaser, one of the most successful people in Australian agribusiness and the owner of the adjoining Hell’s Gate feedlot.”
“It was a pleasure dealing with both parties and it’s most gratifying to see such a significant holding being purchased by local family interests.”