Sale confirmed for Murrumbidgee Valleys Gundaline Station
Sale confirmed for Murrumbidgee Valley’s Gundaline Station
| 16 April 2018
On behalf of the consortium of vendors and manager, Kidder Williams and CBRE Agribusiness are pleased to announce that Contracts of Sale have exchanged for Gundaline at Carrathool in NSW.
Gundaline Station is one of the Murrumbidgee Valley’s largest cotton growing properties. It comprises close to 15,000 hectares (of which around 6,000 hectares is developed to row crop irrigation), 16,000 megalitres of groundwater and around 17,000 megalitres of on-farm water storage.
The transaction remains subject to Foreign Investment Review Board Approval.
The sale price and purchaser remain confidential, and a further announcement will be made when the transaction has been completed.
“While confidential at this stage, the agreed price represents an excellent result for the vendor and builds on the significant upward shift in groundwater and irrigated land values in the Murrumbidgee Valley,” CBRE’s Danny Thomas said.
For Australian/international news or global stories, follow us on Twitter: @cbreaustralia
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), 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 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 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.