Perth, 16 January 2015 – CBRE has been exclusively appointed to sell one of Australia’s largest grain farming operations, located in the heart of the renowned Western Australian Wheatbelt.
The offering comprises the Nicoletti Group’s freehold property interests, consisting of five broad hectare grain farming operations of unprecedented scale and standard of improvements, complemented by a substantial silo complex in Merredin.
A combined landholding of approximately 68,000 hectares, of which approximately 47,000 hectares is arable, the substantial operation comprises five properties located in the Eastern Wheatbelt, including: Walgoolan Aggregation (21,948 hectares); Bullfinch Aggregation (7,305 hectares); Moorine Rock Aggregation (6,523 hectares); Lakeview (4,534 hectares); and Merredin Silos – a two hectare landholding featuring a 15,000 tonne grain storage facility.
A sixth property, Daisy Downs (27,538 hectares), located near the township of Mullewa in the Northern Wheatbelt, is also included in the sale.
CBRE’s Phil Melville, Danny Thomas, Duncan McCulloch and James Beer have been appointed to sell the properties, which constitute the largest cropping aggregation in Western Australia.
Mr Thomas said the operation represented an outstanding opportunity to secure a substantial foothold in one of Australia’s largest agricultural sectors.
“The Nicoletti Group is one of the most high profile agricultural enterprises in Australia, geographically well-situated in a highly productive region, which has the added benefit of being in close proximity to a number of grain handling facilities and export terminals, facilitating ease of access to export markets,” Mr Thomas said.
“Australia is a world leader in the production of high quality cereals; our crops have an excellent reputation internationally and are well-suited to a wide range of products. Wheat, which is the primary focus of the Nicoletti Group, is by far the largest export grain, and these properties are well-positioned to capitalise on anticipated increases in demand from key export destinations, particularly Asia and the Middle East.”
Mr Thomas added: “Rarely does an opportunity to acquire strategic cropping land of this scale come to market, and as a result we expect there to be strong local and offshore investor interest.”
The Nicoletti Group properties are being taken to market via a public Expression of Interest campaign, offering a number of sale options, as per below:
1) Sale and Leaseback to the Nicoletti Group (lease term and rental to be determined as part of the EOI)
2) Vacant Possession (in one line or as separate assets)
3) ‘Walk In Walk Out’, including an extensive list of modern plant and equipment
For further information, please contact Danny Thomas on 0439 349 977.
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