Wonga Park tipped to relist, WA, NSW holdings sell

Linda Rowley, June 12, 2023

Wonga Park in Victoria’s Murray Valley listed last year with price hopes of $40M. Photo: LAWD

VALENTINE Park in Western Australia’s Mid West and Part Mundooie and Back Mackenzie’s in central New South Wales have both sold locally, while a relisting is tipped for goFARM’s Wonga Park.

Wonga Park Aggregation, Vic

The sale of goFARM’s quality irrigation opportunity benefited by secure water in Victoria’s Murray Valley region has fallen over, eight months after it was offered to the market.

In October last year, the Australian-owned agricultural investor, developer and manager decided to sell the large-scale irrigated opportunity with hopes of raising around $40 million.

Located within a productive and agriculturally diverse region, Wonga Park is situated 15km from Cobram, 18km from Yarrawonga and 44km from Shepparton.

Following a dispute during the due diligence and capital raising processes, LAWD director Danny Thomas said the buyer decided not to proceed and that Wonga Park would return to the market mostly likely in the spring.

Spanning 1088ha, the aggregation comprises three hubs located within a 5km radius: the 372ha Wonga Park; 1238ha Wonga Park 2, and 478ha Wonga Park 3.

It produces high-yielding crops including corn, barley and wheat, canola and faba beans as well as grass and fodder production.

Located in the Goulburn-Murray Irrigation District, the aggregation benefits from extensive frontage to numerous water supply channels and access points.

Significant water entitlements include 3749ML of Katunga Deep Lead groundwater, 616ML of Shepparton groundwater and 1685ML of recycled wastewater.

Wonga Park is extensively developed to flood and overhead spray irrigation and supported by multiple on-farm water storages.

The quality structural improvements and operational infrastructure include eight grain silos, hay shedding and six residences.

Valentine Park, WA

Strong sandplain cropping country in Western Australia’s Mid West has sold to a nearby large-scale farming family trading as Green Agricultural Investments for $11M bare.

Valentine Park is located in the prosperous North Eradu district, 60km from Geraldton.

Featuring strong Eradu yellow sandplain soils, around 10km of gravel road has been laid through the property to provide easy road-train access.

Jeff Douglas from Elders Narrogin handled the marketing and sale of Valentine Park, and said the property stands out as an example of sandplain farming success.

“Managed by the current owners for the past 13 years, the property has benefitted from an intense farm improvement program making the best use of up-to-date broadacre farming practices,” Mr Douglas said.

Valentine Park in WA’s Geraldton Zone has sold to a local farming family. Photo: Elders

Valentine Park is well set up with long paddocks facilitating efficient running of machinery on 12.1m tramlines.

Since 2012, the soil has all been rotationally deep ripped every two to three years and a generous liming program at 7t/ha has been applied to all paddocks.

Ample water is available from a scheme connection and solar pump equipped bore.

Infrastructure includes a four-bedroom home, machinery and fertiliser sheds, and silos.

Part Mundooie and Back MacKenzie’s, NSW

A diverse holding on Macquarie River floodplain country in central western New South Wales has sold to the neighbouring Wass family, Mount Foster, at Warren.

Nutrien Ag Solutions Wilson Russ agent Ashley McGilchrist was unable to disclose the price of Part Mundooie and Back Mackenzie’s, but said the sale exceeded expectations following strong local and state-wide interest.

Located north of Warren, the non-contiguous cropping and grazing aggregation comprises two standalone properties 2829ha Part Mundooie and 1168ha Back Mackenzie’s.

Around 360ha is laser-levelled and developed for flood irrigation and a further 800ha is suited to dryland cropping.

The balance is soft red to heavy chocolate floodplain grazing country capable of running 400 cows or 6750-7500DSE.

The Wass family is the new owner of Part Mundooie and Back Mackenzie’s in Warren, NSW. Photo: Nutrien Ag Solutions Wilson Russ

The Campbell family started aggregating the 3998ha in the 1920s and developed Part Mundooie and Back Mackenzie’s as complementary enterprises.

Mr McGilchrist said the diversity enabled the vendors to capitalise on high prices.

“When cotton is making good money, it can be the golden-haired child,” Mr McGilchrist said.

“Conversely, when grains or cattle are doing well, then they can be the money-makers.”

Mr McGilchrist said the listing attracted strong inquiry from people looking to purchase the aggregation as a whole or separately.

“The Warren Shire is tightly held and when a property is listed it is keenly sought after by locals seeking expansion or by outsiders trying to get a foot in the door.”

The water infrastructure on Part Mundooie and Back Mackenzie’s features two electric bores, a solar pump and a 915ML reservoir which, at the time of sale, was holding around 650ML of water.

Over the past five years, many kilometres of new fencing were completed, including 6.7km of exclusion fencing.

The aggregation features a range of improvements which support both the cropping and grazing enterprises.

They include four silos, several machinery, hay and storage sheds, accommodation and livestock infrastructure.


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