
The Southern Cross Farms Portfolio turns off almost one million birds per batch for the Lilydale brand. Photo: JLL
THE LARGEST poultry farm growing free-range chicken for Baiada’s Lilydale brand has come to market with a price expectation north of $20 million.
Southern Cross Farms Portfolio, which was fully converted to free-range production in 2015,
encompasses four contiguous broiler farms across South Australia’s Lower and Mid North regions.
Collectively, they offer 29 poultry sheds for a rough total of 61,000 square metres, and a capacity of
about 947,200 birds per batch.
JLL’s Agribusiness team is handling the on-market expressions-of-interest campaign on behalf of the
private seller, and closing November 21.
JLL Agribusiness senior director Chris Holgar said it was an opportunity to secure a significant holding in the multi-billion-dollar domestic poultry industry, appealing to both existing participants and those looking to enter the sector at a meaningful scale.
“Southern Cross Farms is a long-established holding that has been progressively modernised,” Mr Holgar said.
“It’s a unique opportunity to buy an asset of scale under the growth of the Lilydale brand and
with a price expectation well below replacement value based on construction costs.”
Mr Holgar noted the solid financial fundamentals underscoring the value proposition.
“Free-range and organic chicken accounts for about 20 percent of all chicken sold domestically, and this
figure is expected to grow to close to 25pc during the next five years.
“This speaks to the strength and surety of demand, noting Southern Cross has significant long-term
grower agreements, and further options, with Baiada Poultry Limited, one of Australia’s largest
chicken-meat processors and its conduit to Lilydale.”
Dryland areas across all four farms collectively offer 200ha of prime agricultural land, and Mr Holgar said there was also the capacity to develop additional income streams or continue to utilise these farming areas for the production of shed bedding.
“A location close to Adelaide, roughly an hour’s drive away, also creates significant value in the real estate itself, which would lend itself favourably to consideration for future development.”
JLL Agribusiness senior director Geoff Warriner said as a standalone operation with modern production systems, and current development approval with contractual support from Baiada to add another eight sheds by March 2027, Southern Cross Farms would appeal to an array of potential buyers.
The additional eight sheds would fit seamlessly into the existing systems, ultimately reducing
construction costs.
“The portfolio’s high-quality infrastructure, including recently converted free-range broiler sheds with
new brooding areas, is supported by modern management systems, with a well-established team
already in place,” Mr Warriner said.
“This supports a focus on either active involvement or passive investment.
“Highlights include the significant operational efficiencies achieved through a large-scale desalination
plant and a 500kW solar system equipped with power-factor correction, while there is also extensive
on-site accommodation, supporting infrastructure, and plant and equipment.
“Other key investment drivers include its water security, with water drawn from the main South
Australian system and stored on-farm.
“Geographic separation of the portfolio’s farms – Rockwood, Dalkey, Giles Corner and Days Hill –
also provides a biosecurity hedge against cross-farm contamination.”

Giles Corner is one of the four properties in the Southern Cross Portfolio. Photo: JLL
JLL Agribusiness associate director Jock Grimshaw said it was a timely opportunity for a buyer to secure, or enhance, a foothold in an industry that continued to grow.
“The Australian poultry industry has experienced sustained growth in consumer demand by domestic
consumers during the last few decades,” Mr Grimshaw said.
“This is shown in a per-capita consumption which positions chicken well ahead of beef, pig meat and
sheep meat.
“With major players Baiada and Ingham’s remaining largely absent from the ownership and operation
of ‘grow out’ farms, the industry is undergoing significant evolution from a market dominated by
private family farms to one that is quickly becoming institutionalised.
“Holdings such as Southern Cross Farms represent a strong agricultural infrastructure play.”
Source: JLL
HAVE YOUR SAY