NEW agriculture investment vehicle, Wilga Farming, has paid around $50 million for the Burmah Aggregation on the north-west slopes of New South Wales.
Wilga Farming is managed by Gunn Agri Partners, an Australian manager focused on sustainable farmland management backed by minority stakeholders the Canadian pension fund CDPQ and the Federal Government’s “green bank” Clean Energy Finance Corporation.
Burmah is a diversified mixed-farming operation supporting cattle-breeding and finishing together with dual-purpose crops and fodder production.
The 5437ha aggregation, located 10km from Graman and 30km north-east of Warialda, comprises four strategically acquired and developed properties operated as a single holding.
It was listed in May after seven years’ ownership by Macquarie Bank’s Paraway Pastoral who said it was part of the active management of its portfolio to realise some of the capital growth for investors.
The company stated the money raised would be reinvested to further develop its business and other properties.
LAWD director Danny Thomas was appointed to handle the sale of Burmah Station, and confirmed a transaction had occurred but was unable to disclose the buyer or the price paid.
Burmah sits at an elevation of 550m, and with a summer-dominant average annual rainfall of 765mm is suited to cattle breeding and finishing in combination with crop and fodder production.
Conservatively stocked, the property is rated to run 40,000DSE.
Around 2773ha has been developed for dryland cropping, 2103ha is used for grazing, with the 561ha balance made up of timbered grazing and remnant timber.
Water is supplied by seven bores and catchment dams.
Fit-for-purpose infrastructure includes three dwellings, two livestock yards, a shearing shed and multiple sheds, as well as 410t of grain storage.
In May, Wilga Farming purchased its first asset, the 1237ha The Glen for around $11M.
The immaculately presented grazing and cropping country is located 10km south of Delungra and 40km from Inverell, on the border of the Northern Tablelands and the north-west slopes and plains.
The Glen boasts 690ha of high performing farming basalt soils growing canola, wheat and field peas.
Areas of developed open grazing country are carrying a good body of native pastures and if converted to a backgrounding operation could run around 2500 head of cattle.
The property has dual frontage to the Hobbs and Spring creeks, and single frontage to Myall Creek, as well as eight bores.
One month after purchasing The Glen, Wilga reported it was considering a range of initiatives to improve farm productivity, such as reducing synthetic fertiliser use and improving irrigation, grazing and soil carbon management.