Tatiara at Caragabal fronts the Mid Western Highway and is one of seven properties being offered as part of the Caringbah Aggregation. Photo: Inglis Rural Property

CORPORATE farmer Altora Ag is preparing to reduce the size of its holding centred on the Quandialla district of Central West New South Wales by selling the Caringbah Aggregation.

Comprising seven properties which jointly cover 4231ha, it will reduce Altora Ag’s Caringbah Farms holding by 41 percent from the current total of 10,292ha.

Caringbah Farms was aggregated between 2007 and 2012 for corporate owner Glencore Land (Australia) Pty Ltd through the purchase of family farms in districts bordered roughly by Grenfell, Temora, and West Wyalong.

Altora Ag is owned by Canada’s PSP Investments, and is Australia’s largest broadacre agribusiness with 153,000ha of dryland cropping country held in total in NSW, Western Australia, Victoria, and southern Queensland.

Surplus to requirements

In a statement, Altora Ag has outlined reasons for the sale.

“Altora Ag has commenced a process to divest properties within its Caringbah Aggregation,” a company spokesperson said.

“This follows a disciplined portfolio review, with these changes supporting its longer term business and growth objectives.”

Inglis Rural Property agent Sam Triggs said the seven properties have been listed by Altora Ag to simplify the running of Caringbah Farms.

“It’s about portfolio optimisation; these farms are non-contiguous holdings which they bought as part of the Glencore aggregation,” Mr Triggs said.

“They’re all set up for dryland cropping of cereals and canola, with new water tanks and gravel pads put in to fill spray units.”

The farms also have dams, and one has livestock infrastructure left over from its mixed-farming days in this prized cropping and sheep district.

Altora Ag crops the Caringbah Farms aggregation on a three-year rotation of barley, canola, and wheat.

“They’re sowing Scepter wheat across the whole lot this year; all of it was canola last year.”

The seven listed properties have 3860ha of arable country, or 91pc of the total, and Mr Triggs said each property presents in excellent condition, with wheat being sown into a full moisture profile.

Standing crops are negotiable in the sale price to offer immediate cashflow.

The listing comprises:

• Woodlands and Buckaroo – 786ha and 723ha respectively: Gently undulating red loams with shedding and homestead;
• Mayfair – 254ha: Open flat red loams with Caragabal Creek frontage;
• Tatiara – 450ha: fertile heavy red clay loam soils; three-bedroom residence, grain storage, stables, 600t fertiliser shed, 600t grain silo, shearing shed and yards, and workshop;
• Beena – 713ha: open red-grey farming country with an airstrip, shedding, and Caragabal Creek frontage;
• Homelands 1 & 2 – 595ha: primarily flat and open developed farming country on red loam; and,
• Part of Eurabba, EU4 – 710ha: productive heavy brown-grey soil types, primarily cleared with limited timber.

Expressions of interest on the properties, either as a whole or as individual holding, close May 27.

Properties in the Caringbah Aggregation are located between Caragbal, Bribbaree, and Grenfell.

Altora Ag has its origins in Brabin, Firman and Block, a family partnership based at Temora, south of Quandialla.

In 2009, US entity Black River Investments bought into BFB, and in 2016, PSP Investments established Daybreak Cropping, and bought properties in NSW, Qld, Vic, and WA.

In 2019, PSP bought the majority stake in BFB, and in 2023 merged Daybreak Cropping and BFB to create Altora Ag.

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