The overseas investor-backed fund Southern Resources Ltd. has bought Twynam Group’s Gundaline station in New South Wales for approximately $25 million. This purchase represents one of 24 properties targeted for purchase by Southern Agricultural Resources that cover 100,000 hectares across New South Wales and Queensland. Gundaline, which entails 15,000 hectares of developed irrigated and grazing land, and which controls some of the Riverina’s largest water entitlements, was placed on the market in 2011. The purchase is the latest in the region which has been seeing increasing activity including the 2012 sale of the Uardry Sheep stud and Tandou’s recent $33.2 million partial purchase of Ravensworth Farm.
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