This article is from the Australian Property Journal archive
MACQUARIE Agriculture-backed Paraway Pastoral Company is offloading three NSW farms spanning more than 40,000 hectares, which could sell for a combined $180 million.
Paraway is making the move to divest after receiving unsolicited offers to purchase over the past 12 months. Also making this an opportune time to sell is Australian farmland values having maintained their rapid growth trajectory, lifting by 20% for a second consecutive year in 2022 on the back of high commodity prices, high rainfall and a sharp decline in transaction volumes, with more growth expected in 2023.
The properties being put up for sale are located across the central west and north western regions of NSW, and include the 23,905-hectare Pier Pier Station aggregation, the 14,326 Borambil Station and the 4,456-hectare Burmah aggregation.
They are being offered individually through LAWD’s Col Medway and Danny Thomas.
Pier Pier Station, in the NSW Western Plains currently runs 10,000 Merino ewes and 1,200 trade cattle, with capacity to carry 35,000 dry sheep equivalents (DSE).
About 5,100 hectares is used for dryland cropping for cereals, oilseeds and annual fodder.
There is an agreement in place with the Biodiversity Conservation Trust over part of the property.
Borambil Station, held since 2008, is used for Merino sheep and lamb production and dryland and irrigated cropping, currently carrying 13,000 Merino ewes with capacity of 40,000 dry sheep equivalents (DSE). About 780 hectares is used for flood irrigation, with 8,659 megalitres of water entitlements.
The smallest of the trio, Burmah Station, is used for cattle breeding and finishing, and crop and fodder production It has a carrying capacity of 40,000 DSE.
Expressions of interest for the properties close 28th June.
Paraway has 27 pastoral enterprises across the eastern seaboard states. The portfolio can run 220,000 cattle and 250,000 sheep, along with dryland and irrigated cropping ventures.
