THE Parkdale Aggregation in north west New South Wales is on the market for the first time in 100 years to offer private or institutional investors a 2950-hectare holding with water entitlements totalling 8932 megalitres.
The water alone is thought to be worth in excess of $20 million, and has helped to make Parkdale, a cotton and dryland property of renown.
Parkdale straddles the Newell Highway 15 kilometres south of Goondiwindi on the Whalan Creek floodplain,
It is being offered for sale by former Namoi Cotton director Wally Taylor, one of the pioneer cotton growers in the Macintyre Valley, and one one of the valley’s contributors to the Pindari Dam extension of the 1990s.
Agents for the sale are JLL agribusiness director Clayton Smith and Nutrien Harcourts’ Andrew Jakins, who said Mr Taylor is selling Parkdale to scale back from his intensive rural activities and transition to retirement.
“This proven aggregation is an efficient, profitable and reliable irrigated cotton cropping platform which benefits from an enviable location and soft fertile alluvial soils,” Mr Smith said.
“Considerable operational efficiencies are achieved via a mix of overhead trickle/sprinkler delivery, channel gate supply, traditional siphon flood irrigation and ease of management, all of which present a buyer with the unique opportunity to acquire a proven standalone enterprise.”
Parkdale’s water entitlements include border rivers allocations from the Pindari and Glenlyon dams.
“It is rare for such a large and highly prized water entitlement to be offered to the open market, let alone together with such a significant and high-quality land holding,” Mr Jakins said.
Parkdale 8812Ml Border Rivers entitlementis delivered via the Macintyre Irrigation Association South (MIAS) water scheme directly from the Macintyre River to the Parkdale Aggregation storage dams.
The MIAS channel enters the aggregation through two points on either side of the Newell Highway.
Both regulated releases and flood-harvesting water are pumped into Parkdale’s storage dams which hold a total of 5350Ml.
The aggregation also holds two 60Ml irrigation bore entitlements from the Eastern Recharge GAB aquifer.
Parkdale features 911ha of dryland farming and 2392ha developed for irrigation.
The irrigation component is made up 148ha under lateral-move irrigators, 231ha under centre pivots, 649ha through channel delivery, and
453ha of conventional flood irrigation.
Parkdale Aggregation is being offered for sale with 516ha of wheat and 672ha of barley in the ground in this crossover region for summer and winter rain.
Stored water enabled Parkdale to grow a cotton crop over summer which is not included in the sale offering, and picking is still under way.
Expressions of interest for Parkdale Aggregation close on 30 July, and the offering is expected to attract widespread interest from institutional and private investors.
Source: JLL, Nutrien Harcourts