Duxton has listed most of its Kentucky aggregation at Wirrinya, south-west of Forbes. Photo: LAWD

INVESTMENT company Duxton Broadacre Farms has announced plans to offload most of its Kentucky holding in central western New South Wales as it continues to shift away from dryland cropping.

The 6438ha Kentucky Aggregation comprises three non-contiguous holdings known as Roselyn, Kentucky, and Warangla East.

Located in the highly productive Wirrinya cropping district, 30km south-west of Forbes, the farms grow a diverse range of both summer and winter crops.

Duxton has decided to retain the 418ha Roselyn holding which will be absorbed by the 3506ha West Plains Aggregation near Lake Cowal, comprising West Plains and Lenborough.

It has appointed LAWD to sell the remaining 6020ha of Kentucky via an expressions-of-interest campaign closing on December 11, with hopes of raising more than $45 million.

The sale includes the 523ha Greenlanes, purchased by Duxton in November last year.

Bordering Kentucky on three sides, it is understood the fencing between the holdings was removed, allowing them to be operated as a single contiguous dryland cropping aggregation.

Kentucky has mostly level to gently undulating land with some low-lying areas.

Soil types range from grey and black self-mulching clay loams to areas of red loams.

It has access to 1487ML of Jemalong Irrigation Limited General Security entitlements.

The extensive infrastructure includes numerous dwellings, cottages, sheds and grain storage facilities.

Duxton plans expansion

Duxton is expanding and broadening its exposure to the Australian agricultural sector, both in terms of geographic footprint and mix of commodities produced.

It said strategic divestments, such as the sale of the Kentucky property, are intended to facilitate Duxton Farms’ investment in existing growth projects in Victoria and the Northern Territory.

“Also, it will provide the company with greater flexibility in pursuing its stated strategic objectives, which may include further direct acquisitions and equity investments,” the company explained.

Duxton Farms manages a diversified portfolio of agricultural assets across NSW, Victoria, and the NT.

It produces mainly cotton, wheat, barley and canola, as well as running cattle and sheep.

Timberscombe

Earlier this year, Duxton Farms accepted an offer of $70M for Timberscombe from Altora Ag, saying some income from the sale would be used in both direct and equity-investment growth strategies in the NT, Victoria and NSW.

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