A GLOBAL funds manager has paid more than $150 million for the McPhee Beef Farms in New South Wales’ New England – making it the biggest cattle property transaction this year.

Sam Meares from Meares & Associates and Rawdon Briggs from Colliers Agribusiness handled the sale and while unable to confirm the purchase price, it is understood the land value exceeded the $120m price guide offered during the marketing campaign.

The 8394ha McPhee Beef Farms operates across two operational hubs – the 6755ha Benditi, Mooraback, Overflow and Clonmel (adjoining properties) near Yarrowitch and the 1638ha Glen Eagle, around 58km away, near Walcha.

McPhee Beef Farms will be known now as Benditi Pastoral Company and jointly owned by the McPhee family and New Forests’ Australia New Zealand Landscapes and Forestry Fund (ANZLAFF).

The balance will be retained by the McPhee family, with New Forests’ recently developed New Agriculture fund given up to 24 months to acquire the remaining 50 percent.

The McPhee family will continue to manage staff and production over the next three years.

New Forests

New Agriculture was launched by New Forests (a global investment manager of nature-based real assets and natural capital strategies) in August 2022 to manage the Lawson Grains 100,000ha aggregation in Australia and to build a portfolio of agriculture assets globally, starting in Australia and New Zealand. Today, it manages more than $1.5 billion in assets across 3.1 million hectares.

McPhee Beef Farms is ANZLAFF’s fourth Australian investment following the acquisition of three sites in NSW’s Central Tablelands, as part of its Australian Greenfields aggregation program.

McPhee Beef Farms

Aggregated over 30 years by the McPhee family, the highly improved and well-developed McPhee Beef Farms sits on top of the Great Dividing Range in a high rainfall, sought after region of northern New South Wales.

Comprising mostly rich basalt and soft loam soils, the enterprise has been home to some of the family’s elite Maria River Angus breeding herd that produces quality high performance F1 Wagyu progeny.

Principal Jay McPhee said staff and suppliers can expect a seamless transition to the new ownership model which has enjoyed more than a decade-long agreement with Stanbroke.

“The family has developed a high-performance cattle business it is extremely proud of and is pleased to be working alongside New Forests.”

New Forests global head of investments David Shelton said the quality McPhee asset aligns with the fund’s ‘whole-of-landscape’ approach.

“Investors will be positioned to benefit from the best use of the landscape, while combining additional revenue streams such as carbon and biodiversity.”

New Forests will also look at management practices to reduce emissions across farm vehicles and review energy requirements from renewable sources.

Sam Meares and Rawdon Briggs reported strong inquiry and competition throughout the marketing campaign and bidding process.

Mr Meares said the significant transaction highlights the raw production output potential and carbon and biodiversity opportunity of the Yarrowitch and Walcha areas.

“The quality and scale of the asset, coupled with the region’s enviable and reliable rainfall, soil types and temperate east coast climatic influence, have created a beef production powerhouse for the New Forest portfolio.”

Mr Briggs said the McPhee Beef Farms sale is confirmation that high production, perfect location, aligned supply side genetics, run by a quality management and strong staff culture pay off for both the vendor and the buyer.

“Market dynamics have most North American investors talking about Australia being a perfect US Farmland production and investment hedge position. Stay tuned as some of the biggest deals in agribusiness land in Q4 2025 on the back of this ‘flight to quality’ by larger families and investors alike.”

The McPhee Beef Farms offer around 6500ha of fully developed country, with a further 1000ha on the recently purchased Clonmel to be sown to pasture in early 2026.

With more than 80 percent of the aggregation established to pasture, it will be capable of running around 108,000 Dry Sheep Equivalents or 15,000 steers.

Earlier this year, Mr Briggs described it as one of the most exciting cattle production offerings in Australia today.

“High rainfall at moderate altitudes ensures significantly warmer winters temperatures, delivering animal performance across a wider growing season for pasture and livestock alike regardless of rainfall timing.”

Mr Meares told Beef Central, McPhee Beef Farms had excellent finishing capabilities but was also capable of backgrounding.

“Showing sustainable annual weight gains of around 1kg per day allows for the finishing of up to 15,000 steers per annum (with a 350-day cycle) or even more with a backgrounding operation requiring a 200-day turn around.”

The operation is situated in an above average annual rainfall region of 1000mm. It also boasts 15 creeks, an abundance of natural spring water reserves and more than 190 dams.

During its ownership, the McPhee family has undertaken extensive capital infrastructure improvements including 260km of new fencing, 20km of established laneways and substantial soil improvements.

With the support of local agronomist Damien Timbs, around 75pc or 6285ha of the country has been sown to a high-performance pasture mix including fescue, prairie grass, cocksfoot and legumes.

Other infrastructure includes owner, guest and staff accommodation, five cattle yards and numerous sheds.

In the meantime, the McPhee family’s Maria River Cattle Company will continue to run 2000 breeders on the 3440ha St Helena near Armidale, and up to 4000 young F1 Wagyu cattle will be grown out on oats on the 650ha Hilltop near Tamworth.