One of the Northern Tableland’s foremost grazing operations is being offered to the market by Upton Pastoral Company on the basis of a long-term sale and leaseback.
CBRE’s Agribusiness team has been appointed as the exclusive selling agent for the Upton Portfolio, comprising four grazing properties south of Walcha in the Niangala district.
Totalling 2,668ha, the fully integrated properties are being offered on an initial 10-year leaseback at a commencing rental of $2,100,000 per year. The leaseback includes fixed annual rent increases of 2.5% and the option for an additional 10-year lease term.
CBRE Agribusiness Regional Director Danny Thomas said the Upton family was pursuing a sale and leaseback to unlock capital to grow their business through the acquisition and development of nearby properties.
“The Upton Portfolio has been continually developed by the family since 1962 and is now regarded as the Niangala region’s foremost grazing operation due to its beef breeding and finishing capabilities,” Mr Thomas said.
Comprising grazing properties Alpha, Pindari Tops, Billy Creek and Brislington, the portfolio has an intensive carrying capacity of circa 50,000 Dry Sheep Equivalents (DSE) finishing around 6,000 steers per annum at export slaughter weights.
Mr Thomas said Upton Pastoral Company had formed a strong relationship with Teys Australia and had supplied them exclusively for the past 15 years.
The Upton properties have been developed with a focus on productivity, efficiency, security and ease of management underpinned by a series of capital improvements.
These include subdivision of the properties into paddocks with an average size of approximately 27 hectares to maximise pasture utilisation.
Over 180 dams have also been established, complementing numerous spring fed creeks to ensure a high quality and reliable source of water for livestock. This is aided by high average annual rainfall of circa 1,153 millimetres.
Further information can be viewed here with first round offers due to close 1 June at 4pm (AEST).
CBRE’s Agribusiness team has been appointed as the exclusive selling agent for the Upton Portfolio, comprising four grazing properties south of Walcha in the Niangala district.
Totalling 2,668ha, the fully integrated properties are being offered on an initial 10-year leaseback at a commencing rental of $2,100,000 per year. The leaseback includes fixed annual rent increases of 2.5% and the option for an additional 10-year lease term.
CBRE Agribusiness Regional Director Danny Thomas said the Upton family was pursuing a sale and leaseback to unlock capital to grow their business through the acquisition and development of nearby properties.
“The Upton Portfolio has been continually developed by the family since 1962 and is now regarded as the Niangala region’s foremost grazing operation due to its beef breeding and finishing capabilities,” Mr Thomas said.
Comprising grazing properties Alpha, Pindari Tops, Billy Creek and Brislington, the portfolio has an intensive carrying capacity of circa 50,000 Dry Sheep Equivalents (DSE) finishing around 6,000 steers per annum at export slaughter weights.
Mr Thomas said Upton Pastoral Company had formed a strong relationship with Teys Australia and had supplied them exclusively for the past 15 years.
The Upton properties have been developed with a focus on productivity, efficiency, security and ease of management underpinned by a series of capital improvements.
These include subdivision of the properties into paddocks with an average size of approximately 27 hectares to maximise pasture utilisation.
Over 180 dams have also been established, complementing numerous spring fed creeks to ensure a high quality and reliable source of water for livestock. This is aided by high average annual rainfall of circa 1,153 millimetres.
Further information can be viewed here with first round offers due to close 1 June at 4pm (AEST).
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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 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 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.
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 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 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.