Property

Auscott lists Midkin; Prospect Downs brings Golden Triangle opportunity

Liz Wells, August 5, 2019

ONE of Australia’s largest vertically integrated cotton operations, the Midkin Aggregation in the Gwydir Valley of north-west New South Wales, is being offered for sale by Auscott Limited.

Put together over 40 years and comprising six farms, the aggregation covers 17,307 hectares of blue-ribbon cropping country.

It includes 12,367ha of arable land, with 7647ha of that fully developed for irrigation via entitlements for 42,811 megalitres of general-security water and 14,824Ml of supplementary water.

The aggregation includes the Midkin gin, which services growers within a 60-kilometre radius of its location 12 kilometres north of Moree, and has the capacity to outturn more than 200,000 bales per annum.

“In recent years there has been intense interest in the Midkin Aggregation and, after much consideration, the company has decided to ask for formal expressions of interest,” Auscott chief executive officer and managing director Ashley Power said.

“We are proud of our dedicated employees, respect our place within the community and value our relationship with our grower customers.

“With this in mind, the business is being offered as a going concern.”

Auscott is expected to retain its cropping operations and gins in the Macquarie, Murrumbidgee and Namoi valleys, also in NSW.

PwC has been appointed as the sale’s lead financial advisor, and has set 4 September as the deadline for first-round offers.

Source: Auscott

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Golden Triangle cropping opportunity

Prospect Downs is for sale by expressions of interest through CBRE Agribusiness and Moree Real Estate.

THE Prospect Downs aggregation in the acclaimed Golden Triangle area of north-west New South Wales is on the market, and is expected to attract interest from institutional as well as private investors.

The holding covers 2454 hectares, and comprises three non-contiguous landholdings which include Prospect Downs and Bonnie View which account for  1168ha, the 681ha Colaine and the 605ha Roma.

It is for sale by expressions of interest, and is a joint listing with Col Medway and Richie Inglis of CBRE Agribusiness and Paul Kelly of Moree Real Estate.

The properties are situated within the Golden Triangle, an area north-east of Moree with historically reliable rainfall and sought-after soils, which has long been flagged as one of eastern Australia’s premier cropping regions.

Features of the aggregation include the capacity to store 4250 tonnes of grain, various machinery sheds, a workshop and reticulated water systems for spraying, and two comfortable homesteads, both set in attractive and established gardens, as well as a worker’s cottage and one-bedroom studio is located at Bonnie View.

As part of a regimented management program, comprehensive soil tests and yield maps have been used to formulate a soil-amelioration program which is improving productivity,  and soil health and fertility.

The Prospect Downs aggregation features large and regular-shaped fields, and is being marketed as an ideal add-on for an existing farming operation, or a means of getting into cropping in this prized district.

Standing crop is available to be included in the sale.

Source: CBRE

 

 

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