April 14, 2022

By Lynda Kiernan-Stone, Global AgInvesting Media

The Tabain family has engaged CBRE to manage the sale of the iconic Roseneath grain and livestock farm located in the Murrumbidgee Irrigation Area of New South Wales, with reported expectations of fetching AUD$38 million (US$28.2 million), or more. 

The property has been farmed by multiple generations of the Tabain family for forty years. Located 5 kilometers from the township of Leeton, the 2,438-hectare (6,025-acre) Roseneath farm has focused on grain production, storage, and transportation.

Of the total acreage, 2,383 hectares are arable farmland, and 971 hectares are currently irrigated with existing flood and/or center-pivot systems. With water entitlements totaling 2,493 megaliters, the farm grows dryland and irrigated winter crops such as wheat, barley, canola, vetch, and lupins, as well as summer crops including rice and maize.

In support of this, the farm has a 40,000-ton grain storage and handling facility that is nearly 11,000 square-meters in size, and is accompanied by grain silos, a grain dryer, and a registered weighbridge with bitumen-road access that can accommodate B-double transportation.

“Rarely are properties of this scale and caliber offered for sale within the Riverina region,” said Boo Harvey, CBRE.

The farm also has a history of producing large numbers of high-quality sheep, running about 3,000 head per year, and for breaking the national per-head sale price for prime lambs in an auction in Griffith in 2018 – and includes comprehensive livestock handling and feeding facilities. 

However, a huge draw for the property is its flexibility, and the wide range of channels of production that could be possibly developed.

“A key feature of Roseneath is the broad range of enterprises the property can support,” commented Harvey. “Beyond its existing grain and livestock facilities, there is the scope for further development to produce permanent crops of nuts, fruit and/or vegetables. The opportunities are amazing.”

“That is all complemented by the farm’s proximity to the region’s grain and horticultural packaging and processing facilities,” she added.

The CBRE team is looking forward to showing the property to as many people as possible, noted CBRE’s Harvey, who along with Matt Childs and David Goodfellow, has been appointed to manage the sale process.

“This opportunity will suit a savvy investor wanting to take advantage of a proven, highly-productive asset with huge scope for further development and land use change,” said Harvey.

Expressions of interest on Roseneath are due to CBRE before 1600 AEST on May 12, 2022.

~ Lynda Kiernan-Stone is editor with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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