This article is from the Australian Property Journal archive
THURLA Farms in Victoria’s Sunraysia district, one of Australia’s largest integrated agribusiness operation with an unlimited supply of recycled water, is on the market following the death of its founder and developer Col Beasley.
Beasley secured the holding in 1980 passed away early this year at 59 after a battle with cancer.
The Beasley family have decided to sell the 2,971 ha of prime Sunraysia farm land with multiple productive enterprises of almonds, a vineyard, horticulture and irrigation farming already well established.
Thurla Farms at Red Cliffs in the Sunraysia district is only 25km south of Mildura and is being offered for private sale by Ruralco Property.
Ruralco Property agents John Morris and Michael Everard said Thurla Farms is considered to be Victoria’s largest integrated agribusiness operation, if not one of Australia’s largest.
They said the offering is expected to attract interest from large agribusiness corporates, from institutions seeking opportunities in agriculture, from families and private investors.
It could also appeal to investment syndicates as a significant investment and further development opportunity.
“Thurla Farms is offered with substantial farming infrastructure, production centres, a family homestead, while substantial and valuable irrigation rights including virtually unlimited treated wastewater attach to the property,” they said.
The property is held in multiple titles as effectively three parcels of 1,684, 1,028 and 253 ha, with the horticultural and irrigated operations conducted on the first, the abutting second parcel as existing and potential Industrial land with the third parcel able to be supplied with unused irrigation water or from nearby storages over which rights are held.
Significant irrigation rights are held by Thurla Farms including Murray River water rights while the farm is currently using 2,300 megalitres of treated water, provided from the Mildura domestic system.
Held under a fifty-year agreement with up to 12,000 megalitres available thissource effectively drought proofs the property in perpetuity.
The treated water has a high nutrient load and typically encourages advanced growth characteristics for the crops where it is used.
The water is delivered by two pipelines into two interconnected dams with a capacity of 230 megalitres from which a high pressure pumping system feeds the irrigation network.
The property has a total of eight dams with a combined capacity of 455 megalitres.
The major production centres on Thurla Farms include 118 ha (or 300 acres) of vineyards planted to premium red and white varieties, 6.84 ha (or 10 acres) planted with 1,600 mature avocado trees, while 229 ha (or 568 acres) were planted to the industry standard in 2008-9with almond trees of appropriate variety choices.
There is a Kalamata olive grove of 2.4 ha (or 6 acres) also established.
An area of 48 ha is zoned Industrial 1 and is partly developed as an eco-industrial freight gate and intermodal transport hub and interchange while a further 154 ha is identified as future industrial use.
Approximately 815 ha (2,013 acres) is irrigated farm land with 141 ha currently planted to lucerne with the flexibility to produce lucerne or oaten hay for local and export markets where the property has been a reliable supplier for some twenty-five years.
Approximately another 350 ha is judged to have potential for irrigation development due to its proximity to and capacity of the irrigation infrastructure and the unlimited treated water availability.
The property also has a history of lamb production and includes a 5,000 lamb capacity feed lot, capable of being converted to cattle use.
An additional area of 16.2 ha is fitted with overhead sprays and has been used for vegetable production for domestic markets as market opportunities determine.
Thurla Farms is offered for sale with a multi-million dollar complex of management offices, a packing shed complex and general farm buildings including silos, shearing sheds, yards, centre pivot irrigators, pipelines and watering infrastructure.
The main farm management and packing shed complexes are adjoined by lawns and landscaped areas plus concrete wash down areas, concrete aprons and gravel surfaced link roads.
A substantial modern four-bedroom family home of about 267 sqm is also on the property set in a feature garden area with a tennis court outdoor living area and extensive rain water storage. A substantial inventory of unfixed plant and equipment including horticultural and general farming plant is available separately.
Col Beasley’s son Travis has managed the farm with the objective of further developing the production and to capitalise on the highly valuable land and water assets.
“In short we are interested in offers for the Thurla Farms property on a going concern basis, or with our Ruralco agents we invite enquiries from investors who may want to secure a stake in the agribusiness sector as an equity or financial partner.
“Our family believes that after ten years of intensive development our farm and this district is on the cusp of performing to its true potential,” Beasley said.
The Beasley family is working with PWC adviser Joff Macleod to enhance the business and operational strategy.
Australian Property Journal
