In 2024, numerous farms in Australia changed hands for millions of Australian dollars, with buyers including foreign investors and well-known local families.
At the same time, other major players have also been expanding their agricultural investment portfolios in Australia.
Below are some of the most notable transactions of the year.
01. Rinehart Expands Her Empire
In July, Gina Rinehart further expanded her landholdings in Victoria.
According to The Weekly Times, Australia’s richest woman acquired three parcels of farmland in the state’s renowned Western District through a private sale via Valley River Holdings Pty Ltd, a wholly owned subsidiary of Hancock Prospecting. The total area spans 460 hectares, with a combined purchase price of nearly AUD 10 million.
Reports indicate the average purchase price for the land was around AUD 21,000 per hectare. These three acquisitions bring Rinehart’s total holdings in Victoria’s Western District to four properties, covering nearly 1,000 hectares.
This major deal follows her earlier 2024 purchase of the 511-hectare Chrome Park farm in Branxholme from the Tonissen family for over AUD 8.6 million.
02. Comedian Purchases AUD 1.8 Million Potato Farm
Stand-up comedian Carl Barron has expanded his presence in New South Wales’ Southern Highlands, this time acquiring a 3.6-hectare property that was formerly a potato farm.
In June, Barron spent AUD 1.8 million on an eco-friendly two-storey home in Mount Murray, near Robertson. The Sydney-based performer has owned a holiday property in the area since 2017.
The four-bedroom residence was built 40 years ago by environmentalists Helen and David Tranter using basalt rock sourced from the land, and it was designed to face due north.
03. Historic AUD 780 Million Farmland Deal
A staggering 225,000 hectares of farmland in New South Wales, including two iconic sheep stations near Deniliquin, were sold in September for a record-breaking AUD 780 million.
The transaction is marked as the largest rural property deal in the past four years. Australian Food and Agriculture decided to sell its entire 225,000-hectare NSW property portfolio.
The assets—among them the renowned Wanganella and Boonoke stations, considered the birthplace of modern Merino sheep—were acquired by a foreign investor. The deal was completed via a business combination with Agriculture & Natural Solutions Acquisition Corporation (ANSC), a Cayman Islands-registered, NASDAQ-listed company. The total value of the transaction was AUD 780 million (USD 510 million).
ANSC is backed by Riverstone Investment Group and Impact Ag Partners, the latter founded by Bert Glover and led by CEO Hugh Killen. The company holds a significant Australian agricultural investment portfolio, forming part of its AUD 900 million in global assets under management.
04. Mormon Church Buys Queensland Farmland for AUD 300 Million
Well-known cotton and cattle farmers Robert and Jennie Reardon sold the 26,885-hectare Worral Creek Aggregation in southern Queensland for over AUD 300 million.
The buyer is a subsidiary of Utah-based Farmland Reserve, a company owned by The Church of Jesus Christ of Latter-day Saints (commonly known as the Mormon Church), which has spent the past century acquiring farmland primarily in the United States and Latin America.
The Reardon family acquired Worral Creek in 1990 and developed the aggregation under their management. According to reports, Robert and Jennie plan to retire, and the sale provides them with a substantial financial return.
05. Canada and Australia Join Forces to Sell Large-Scale Farm
A major Canadian agricultural investment firm joined forces with Victoria’s prominent Paterson family to sell a 967-hectare farmland property in the state’s Western District.
Excel Farms, backed by Canada’s Fiera Comox Partners and operated by Nick Paterson, acquired the land three years ago and listed it for sale in April this year. It was eventually sold for around AUD 20 million to a South Australian family.
These transactions mark part of a broader series of strategic moves by Excel Farms, which has significantly expanded its agricultural investment portfolio in Australia. The company now holds farmland assets valued at over AUD 1 billion.
06. Historic Victorian Estate Changes Hands Again
A historic property in Victoria has changed hands once more, having previously been acquired a few years ago by a neighbouring farming family from Western Victoria.
Ingleby Homestead, a two-storey, six-bedroom Georgian-style bluestone estate built over 160 years ago, was listed for sale in August 2024 by local Winchelsea resident Georgie Thomson and her family.
Four years later, the Thomson family chose to retain approximately 300 hectares of their larger sheep and cattle operation, subdividing and listing the Ingleby Homestead and surrounding land for sale.
The large estate was sold in October, though the final sale price has not yet been disclosed.
07. Northern Territory Cattle Station Sold for Over AUD 40 Million to Agricultural Family
A Central Queensland Wagyu breeding family has made their first Northern Territory acquisition, purchasing a massive 559,500-hectare cattle station from a Filipino businessman and property developer.
Romeo Roxas, through his company Australian Green Properties, sold Murray Downs Station in September to the Hughes family’s Wentworth Cattle Co.
Roxas had listed Murray Downs for sale in July, expecting offers exceeding AUD 40 million. The station, located in the Barkly Downs region of the Northern Territory about 400 km north of Alice Springs, included around 10,000 head of Santa Gertrudis breeders, heifers, and followers as part of the offering.
08. Australian Agricultural Family Acquires Six Farms in South Australia
At the end of the year, a leading South Australian beef-producing family became the new owner of a premium six-farm aggregation.
The 4,360-hectare Fairview Aggregation, located near Lucindale in South Australia’s southeast, was originally listed for sale over a year ago by Swiss investors.
In December, it was reported that The Ogilvie Group purchased the property for approximately AUD 65 million.
Although the final sale price has not been officially disclosed, The Ogilvie Group—a major beef supplier to Woolworths—acquired the entire aggregation and incorporated it into their extensive pastoral portfolio across western Victoria and eastern South Australia.
09. Victorian Dairy Farm Changes Hands
A 32-hectare dairy farm in southwestern Victoria was sold at auction in November following a highly competitive bidding process.
Located in Nirranda South, about 40 kilometres from Warrnambool, the 32.37-hectare property sold for approximately AUD 56,800 per hectare (or AUD 23,000 per acre), marking the end of the Bushell family’s long-term stewardship of this historic farm.
Bidding began at AUD 29,460 per hectare, with two neighbouring farmers pushing the price up to near-record levels per hectare. Around 60 people gathered at the Nirranda South Football Clubrooms to witness the sale, which closed at a total price of AUD 1.84 million.
News source:https://caifuhao.eastmoney.com/news/20241226034231241120890
