Farmland aggregation tipped to achieve circa $4.5m
| 18 December 2018
CBRE Agribusiness has been appointed to sell the Moorook farmland aggregation, a 2,155ha greenfield horticultural development site located in one of Australia’s premier intensive agricultural regions.
Moorook, spanning more than 2,155ha in South Australia’s Riverland region, is five kilometres from the Murray River via Gogel Road. The farmland benefits from rising plains and an elevation of 50m.
The aggregation, which includes Warragai Farm (142ha), Fricks Farm (415ha), Butlers Farm (787ha) and May Farm (810ha), are currently used for dry land cropping pursuits, including the production of high quality wheat.
Subject to the relevant approvals, Moorook offers investors the potential opportunity to develop an 1,800ha vineyard or a 1,200ha almond orchard.
A short 2.5-hour drive from Adelaide and only 1.5-hours from the Barossa Valley, the aggregation is close to wineries in Waikerie, Loxton and Renmark – the latter which is also home to an almond processing facility.
The aggregation offers a Mediterranean climate with an average annual rainfall of 263mm and soils predominantly comprised of free draining red sandy loams, enabling the land to accommodate an assortment of high value horticulture uses.
Mr Schell noted the aggregation would attract local farmers, horticultural investors and developers.
“Located in a major wine grape growing region, Moorook is suited to buyers interested in growing almonds, citrus, table grapes, pistachios, wine grapes and avocados,” Mr Schell said.
Mr Svoronos added; “Much of the suitable horticulture land along the Murray river frontage has been amalgamated and developed extensively to citrus, almond and wine grapes. Astute investors are now turning to much larger greenfield holdings.”
“The aggregation provides flexibility as it can be sold as a single holding or divested as individual properties,” Mr Svoronos said.
The Moorook farmland aggregation is being offered for sale via Expression of Interest, closing January 24, 2019, at 4:00pm (AEST).
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