This article is from the Australian Property Journal archive
AUSTRALIA’S largest horseradish farm and family owned and operated horseradish producer, Newman’s Horseradish, are being offered to the market for the first time since 1947.
The farm spans more than 27-hectare and located on the banks of the Bremer River in Langhorne Creek, located around 55km south-east of the Adelaide CBD, and includes substantial improvements.
Nick Goode and Tim Altschwager from Colliers have been appointed to sell the vertically integrated business, including its intellectual property and land assets, which are expected to draw interest from fresh produce participants, lifestyle buyers and investors.
The land assets, which have been developed and continually improved and refined since the Meakins family expanded its operation in Langhorne Creek in 1985, also includes Rustica Wines which operates out of the cellar door on the property.
With the Newman’s Horseradish business underpinned by a horticultural landholding at Langhorne Creek with access to abundant water from multiple resources for irrigation and the ability to grow produce over an extended period through rotations.
The farm improvements include the seven-hectare pivot site, vineyard, homestead and cellar door, on top of high-quality shedding and the business’s production line.
The property and business assets of Newman’s Horseradish and Rusticana Wines, including farmland, water assets, plant and equipment are for sale by expressions of interest.
First Stage Non-binding Indicative Offers due on Thursday 28 September.
At the same time, a 1,063-hectare property in central Eyre Peninsula is being offered to the market as an opportunity for farmers and investors looking for an add-on block, with expectations in excess of $3,000 per arable hectare.
“Scruffs” is located at 1896 Tooligie Hill Road in Murlong, around 40 minutes out from Tooligie, and comprises 618-hectares of arable land currently sown to canola and barley.
Phil Schell and Angus Bills from CBRE Agribusiness are managing the sale of the property via a two-stage expressions of interest campaign.
“We are expecting interest from local farming families seeking an add-on block, as well as out-of-district farmers and CBD-based investors looking to continue the share farming agreement or further lease opportunities,” said Schell.
The property is currently operated under an annual share farming agreement, with the opportunity for potential passive investors to continue the agreement in the future.
Scruffs is well-fenced and includes two main paddocks, mains water supply, single-phase power and a multi-use shed with spray tanks.
“The Eyre Peninsula has been a sought-after region the last few years which is reflected by the uplift in pricing and the number of parties submitting their interest throughout the sale process,” added Bills.
“The incoming purchaser will be granted a licence to occupy the property to maintain summer weed control and ensure the property is ready to crop for the 2024 growing season.”
The expressions of interest campaign for 1896 Tooligie Hill Road, Murlong is scheduled to close on 19 October 2023.
Meanwhile over in NSW, two families have tipped their Southern Tablelands farms to the market, taking the value of major NSW rural properties brought to the market over last week to nearly $200 million.
