INNER Darling Downs irrigated cotton enterprise, Wynola Aggregation, has sold to investors a few days prior to auction.
Located within the tightly held Brookstead district, the 638-hectare aggregation was developed for irrigated and dryland farming, primarily cotton.
JLL Agribusiness director Clayton Smith, who handled the transaction, said there was significant demand for the high-quality asset which was set to go to auction on Thursday.
“We had multiple inspections from both domestic and overseas interests,” Mr Smith said.
“It has been secured by investors who have landholdings in the general region.
“The eventual buys secured it prior to auction with a good bid and the vendors are happy.”
Mr Smith said the buyers purchased both properties in the aggregation, Wynola and Worrenda.
He said the quality of the aggregation and its rarity drove the quick sale.
“We are seeing that the demand it still there and there isn’t that many opportunities to buy these types of properties.
“It is in a really tightly held area.
“Perhaps once or twice in a lifetime you will get this opportunity, and this is how the buyers have viewed it.”
Mr Smith the water security and soil types made Wynola one of these “once in a lifetime” properties.
“Outstanding soil types and profiles, water security and modern infrastructures built for efficient production place this award-winning property at the pinnacle of Australian cropping opportunities.
“The new owners will be well positioned to perform with on-farm storages at capacity, over 1,000 megalitres of bore water in current account and a full soil moisture profile.”
Vendors, the Little family, have retained Mondamere, a standalone mixed farming or lifestyle block in the Irongate district which was offered in parallel.
The sale comes after Dirranbandi irrigated cotton and dryland cropping property, Tooroora, also sold before heading to auction.
The 6677ha aggregation sold to New South Wales farmers Andrew and Jo Slack-Smith in April.
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