Telopea Downs Victoria’s Largest Farm Sale A100 Million International Eoi
The sale of Victoria’s largest grazing and cropping property, Telopea Downs, is currently being facilitated through an international expressions of interest (EOI) process by Colliers, the appointed agent for the transaction. While the guide price has not been disclosed, industry sources have estimated that the property could fetch upwards of A$100 million ($85.1 million), according to a report by ABC News. Meanwhile, AuctionsPlus, an online agricultural marketplace, has cited the property’s current owners, AJ & PA McBride, valuing it at up to A$123 million ($104.7 million).
The upcoming development of Parktown Residence is set to provide a much-needed boost to the supply of mass-market homes in the Outside Central Region, catering to the rising demand for private housing. With its integrated design, Parktown Residence is expected to be a popular choice among owner-occupiers and individuals looking to upgrade from their HDB flats. Additionally, the project will have direct access to the future Tampines North MRT station on the Cross Island Line (CRL). Highlighting the project’s website Parktown Residence, it is evident that the development is well-positioned to cater to the growing needs of homeowners in the region.
Situated on the border of Victoria and South Australia, between the towns of Kaniva and Bordertown, Telopea Downs is made up of 11 adjoining properties – 10 in Victoria and one extending into South Australia. The current owners, sixth-generation woolgrowers AJ & PA McBride, acquired the property in 2018 for over A$70 million from Hassad Australia. Hassad Australia, a subsidiary of Qatar’s sovereign wealth fund Hassad Food, had purchased the property in 2012 as part of their expansion strategy for their Australian agricultural portfolio focused on sheep breeding.
Spanning over a vast 47,660 hectares of grazing and cropping land, Telopea Downs boasts irrigation development and a strong track record of land and pasture improvement. “Over 27,000 hectares have been clay-improved, alongside upgrading of fencing and water infrastructure,” says Jesse Manuel, the national director of agribusiness transaction services at Colliers. “Ongoing extensive renovations have continued to increase the property’s carrying capacity.”
Currently, the property supports around 85,000 Merino and crossbred sheep and 1,100 cattle, with a long-term carrying capacity of over 100,000 dry sheep equivalents (DSE). Telopea Downs also holds 2,325 megalitres of water entitlements for irrigation, supporting fodder, seed, horticultural production, and livestock operations. It benefits from high-quality and easily accessible groundwater, enabling a diverse range of large-scale farming enterprises.
“With its moderate climate, reasonable rainfall, and potential for irrigation, the property would be a valuable addition to various stages of the supply chain, from breeding to backgrounding,” adds Tim Altschwager, the national director for agribusiness transaction services at Colliers.
The EOI for Telopea Downs will close at 12pm (Australian Eastern Daylight Time or AEDT) on November 21.