Major Riverina aggregation provides institutional grade development opportunity

Strong corporate interest is anticipated in the upcoming sale of ‘Dellapool’, a major aggregation in the New South Wales Riverina region offering 11,361ML of ground water and surface water entitlements.

CBRE’s John Harrison, James Auty and Matt Childs has been appointed to steer the campaign on behalf of Waratah Land Pty Ltd.

The 2,665.71ha aggregation is an institutional grade development opportunity, which is expected to attract offers in excess of $80 million.

Mr Harrison, CBRE’s Pacific Head of Agribusiness, noted that aggregations rarely came to market offering both ground water and surface water entitlements.

“This is a unique opportunity in an attractive agricultural region that is appealing to corporate and institutional investors – particularly for large scale development assets with extensive river frontage and significant water entitlements,” Mr Harrison said.

“The Dellapool aggregation has been extensively developed with state of the art irrigation infrastructure, enabling flexibility in the potential production of various permanent horticulture plantings.”

The Murrumbidgee River property is located approximately 14 kilometres to the south-east of Narrandera and less than 1 hour from Wagga Wagga.

It offers circa 1,950ha of serviced irrigation land suitable for permanent plantings and the following water entitlements:

• 2,723ML Murrumbidgee Regulated River (High Security);
• 4,627.50ML Murrumbidgee Regulated River (General Security);
• 167.50ML Murrumbidgee Regulated River (Supplementary)
• 3,815ML Mid Murrumbidgee Zone 3 Groundwater,
• 28ML Murrumbidgee Regulated River (Stock and Domestic)

There is significant irrigation and filtration infrastructure with a large on-farm water storage dam of circa 500ML.

There are also extensive structural developments including offices, residential accommodation and multi-purpose agricultural shedding.

Expressions of Interest are invited by 23 November 2023.