Cobbora Holding Company Pty Limited (CHC) has today announced that following a competitive tender process, CBRE Pty Ltd has been appointed to oversee the sale of CHC’s landholdings.
CBRE will be supported by Central West-based estate agents Milling Stuart Pty Ltd and accounting and agribusiness advisers Chapman Eastway.
CHC has also appointed Waterfind Pty Ltd to oversee the sale of high security water access licences and groundwater licences, following a similar tender process.
“These are highly qualified companies who will bring the benefit of significant knowledge to the sale process and I am very pleased to announce these appointments” said Richard Outridge, Chief Executive Officer of CHC.
“We are particularly pleased to be working with Milling Stuart, a local Dunedoo based firm, who have operated in this area since 1914. Their local knowledge will be invaluable to the process,” Mr Outridge added.
CBRE Agribusiness Director Colin Medway said the sale would be eagerly anticipated, with the divestment of the landholding poised to provide opportunities for a broad range of buyers.
“CBRE is excited to have been appointed to market such a large landholding within what is a very tightly held district,” Mr Medway said.
“The site offers multiple opportunities, with the smaller land parcels likely to be sold either as weekenders or to locals looking for lifestyle acreage sites. The larger timberland sites are expected to attract strong interest from businesses looking for vegetation offsets while the agricultural aggregations will be hotly contested, including by established farming families looking to expand their existing landholdings.”
Marketing for the landholdings is expected to commence in mid to late October. The sale process for water licences will commence within the next fortnight.
CHC will continue to liaise with current licencees and tenants to ensure they are informed about the sale process.
The sale process is expected to conclude in 2017.About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
