The transaction highlights the interest from institutional investors in securing sizeable exposures to the Australian agricultural sector as world food markets are roiled by food inflation.
The Cowal aggregation, around Emerald, was once part ofbefore it was sold an entity linked to Global Endowment Management in 2013. The aggregation includes six farms stretching across nearly 6,000 hectares.
Its water entitlements include more than 27,000 megalitres of medium-priority water, while the properties have 12 kilometres of frontage to the Nogoa River.Macquarie, which declined to comment on the transaction, has a track record in establishing large stakes in farmland. Three years ago, its asset management arm acquired a 49 per cent stakeMacquarie Asset Management manages around 4.7 million hectares of farmland across Australia and Brazil in various managed funds.
“We have been seeing farmers in some districts going head-to-head with institutions. In this case, there were only institutional interests. We could have sold it three or four times over,” LAWD’s Mr Thomas said, while declining to identify the ultimate buyer or price paid.
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