Property

Harvard dwells on trees with massive Lachlan listing

Grain Central, May 7, 2019

The Lachlan River Portfolio contains many first-class improvements, such as these storages on Cowl Cowl. Photo: CBRE

INSTITUTIONAL investors are the likely buyers of a massive spread of irrigated and dryland country which straddles the Lachlan and Murrumbidgee valleys and is being offered for sale by Harvard University’s Harvard Management Company through CBRE Agribusiness.

Known as the Lachlan River Portfolio, it covers 32,567 hectares in south-western New South Wales between Hillston and Hay, and comprises much of Cowl Cowl and Newmarket, and most of  Wyadra.

Established as sheep stations in the 1800s, the runs have been converted under current and previous corporate ownership to feature 10,895ha of developed lateral-move and centre-pivot irrigation country, 2271ha of flood irrigation and 1865ha of dryland cropping.

The balance of the portfolio contains a total water-storage capacity of 11,950 megalitres, plus grazing and support land.

Cowl Cowl homestead is being offered for sale as part of the Lachlan River Portfolio. Photo: CBRE

Cowl Cowl, Newmarket and Wyadra have all successfully grown cereals, fodder crops, livestock and row crops including cotton, and a portion of Wyadra includes tree plantings, whicht Harvard is believed to be retaining.

Lachlan River Portfolio entitlements comprise general-security licences for 43,502ML and 511ML for stock and domestic use, and the portfolio has potential for a further 2043ha of approved irrigation development.

The aggregation has 16 kilometres of double frontage and 31km of single frontage to the Lachlan River, and 35km of single frontage to the Murrumbidgee River.

Its Riverina location puts it close to all four Riverina cotton gins, three almond-hulling and processing facilities, a walnut-processing facility, and feedlots.

The Lachlan River Portfolio is for sale in separate lots are as a whole by expression of interest closing 13 June.

Source: CBRE Agribusiness

 

 

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