EXCEPTIONAL New England grazing property Wirribilla that once formed part of the expansive Clyde Agriculture portfolio has been listed for sale and is expected to raise more than $70 million.
It was purchased in 2013 by Sam Swire after the family’s UK-based Swire Group announced plans to end 30 years of involvement in Australian agriculture by offloading Clyde Agriculture – at the time worth an estimated $300 million.
From 2010 to 2014, ten properties spanning more than 270,000ha of prime grazing, cropping and irrigation country in northern New South Wales and Queensland were progressively sold off.
The original UK-based John Swire & Sons business, that controlled major global logistics businesses including shipping company China Navigation, Cathay Pacific Airways and the Frigmobile refrigerated transport business, held beef industry assets in Australia since the early 1960s.
Its first investment came as a shareholder in the Northern Meat Exporters beef processing business established in Katherine, Northern Territory in 1963.
The 5003ha Wirribilla is well located, 20km south-west of Walcha, and described by selling agents LAWD as an exceptionally high quality holding at scale for its location.
The New England region and in particular, Walcha are recognised as a sound investment for institutional investors, with nearby neighbours including Paraway Pastoral’s Aberbaldie Station.
Wirribilla is capable of running 73,000 Dry Sheep Equivalents, with a proven history of producing both beef and prime lamb.
Situated in a 900mm average annual rainfall region, the perennial pasture-based system is currently running a self-replacing composite ewe flock and an Angus herd, together with cattle trading and long term agistment for cattle backgrounding.
Wirribilla boasts basalt and trap soils and a strong history of pasture improvement and fertiliser application, which LAWD director Col Medway said is evidenced by outstanding soil test results.
“Farm manager Mike Campbell has been stewarding the management team since 2005 providing continuity of data recording that evidences the long-term productive capability of the property,” he said.
The property is securely watered by numerous creeks and dams (many of which are spring fed), as well as an extensive reticulated water system.
Wirribilla will be offered for sale by expressions of interest closing on November 21, with the marketing campaign due to commence next week. LAWD agents Col Medway and Daniel McCulloch are handling the sale.
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