An institutional-grade almond enterprise spanning three states, underpinned by 18,250* megalitres of water entitlements, presents a rare opportunity to acquire an Australian horticultural asset with long-term income, blue-chip tenancy and strategic exposure to global food demand.
Aware Super’s Almond Portfolio comprises five non-contiguous landholdings totalling 4,738* hectares, with irrigated orchards of varying planted age profiles and varieties. The Portfolio’s crop profile comprises 2,368ha* planted to almonds, with 284ha* of citrus at Amaroo, while 388ha is developable land and the remainder, grazing or support.
Located within the Sunraysia Region of Victoria, renowned for its intensive agriculture, are the 186*-hectare Farm 7 and 408ha* Mullroo, together with 2,007ha* Bunargool and 418*ha Billa Downs in New South Wales. Complementing these is the 1,719ha* Amaroo in South Australia’s Riverland, one of the nation’s premier horticulture regions.
The portfolio features outstanding water assets, including 11,995ML of Victorian Murray (Zone 7 – Below Choke) High Reliability water entitlements, and a further 6,255ML of SA (Zone 12) Class 3A water entitlements. Water is sourced from the Murray River, reticulating from various pump sites through main lines to the orchards.
The entire portfolio is leased to Select Harvests Limited, one of the world’s largest fully integrated almond companies and a leading supplier to both Australian and international markets.
Rare opportunity in permanent plantings
Danny Thomas, LAWD, said the asset is “as good as it gets”, with significant capital expended since acquisition in almond plantings, irrigation infrastructure and structures.
“Permanent planting opportunities of this scale are increasingly scarce, particularly in almond production,” Mr Thomas said.
“Aware Super’s Almond Portfolio is an extremely high-quality asset featuring mature, productive orchards. If you were talking in commercial real estate terms, the Portfolio would equate to Collins Street- or Pitt Street-grade properties.
“The lease provides an attractive entry point for large investors seeking exposure to the almond sector, offering long-term stable income and real-asset exposure.”
Due to its scale, Mr Thomas expects the Portfolio will draw interest from international pension and sovereign wealth funds from Europe, the Middle East, and North America, and large family offices.
“Appeal will be further broadened by favourable global dynamics which have supported strong pricing and margins within almond production, including reduced supply from California, water constraints in the United States, tariff war impacts and global demand,” Mr Thomas said.
Citrus and almonds at Amaroo, SA
Amaroo is a large-scale holding eight kilometres northeast of Renmark, supporting 1,130ha* of a variety of almond trees, with a weighted average tree age of 16.3* years.
The 284ha* citrus orchard is planted with a mix of navel oranges and mandarins, with an average tree age of 20.7* years.
Direct access to the Murray River underpins the secure irrigation system with water extracted via two dedicated pump stations to provide reliable water for permanent plantings through drip irrigation for the almonds and micro spray for the citrus.
Secure water feeds Farm 7 and Mullroo, VIC
Farm 7 is a 186ha* holding at Cullulleraine, 56km west of Mildura in Victoria’s Sunraysia region. The property features a 158*ha almond orchard with a variety of plantings and a weighted average tree age of nine years.
Drip irrigation systems supply water from the Murray River via Lake Cullulleraine under a water use licence, which allows an annual use limit of 2,304ML*, equating to 12.4ML* per hectare for almond plantings.
A short drive from Farm 7 is the 408.3ha* Mullroo, which has 292.85ha* planted to a variety of almonds with a weighted average tree age of 13.6 years. The balance of the land is undeveloped (80ha*) or used as support land.
Drip irrigation systems on Mullroo are supplied by water from the Murray River. Irrigation water is sourced from Lake Cullulleraine which reticulates water to the property via a 375mm PVC main line.
A Water Use Licence allows an annual extraction limit of 4,018ML*, equating to approximately 13.7ML* per hectare for almond plantings. The licence is tied to the land and cannot be traded.
Murray River supplies Bunargool and Billa Downs, NSW
At the 2007.5ha* Bunargool, near Euston in the New South Wales Sunraysia region, 578ha* are planted to a variety of almonds with a weighted average tree age of 10 years. The remaining 1449ha* comprises undeveloped land (144ha*), support land and remnant vegetation.
The orchard operates on drip irrigation systems supplied by water from the Murray River with an 80 megalitre on-farm storage dam used as a back-up irrigation system. Bunargool also holds a small share in a water licence which provides 8ML* for stock and domestic purposes only.
Nearby on the Sturt Highway is Billa Downs, comprising 418ha*, of which 209ha* is planted to several almond varieties, with a weighted average tree age of 7.8* years. The balance of the land is either used as support land or undeveloped (40ha*).
Billa Downs almond orchards are watered by drip irrigation supplied by water sourced from the Murray River via Bunargool.
Almond processing and key service centre
A standout of the Portfolio is the range of infrastructure developed to support operations, including staff accommodation, storage sheds for machinery, fertiliser and pumps, water storage tanks, as well as farm offices and staff amenities.
Proximity to established almond processing infrastructure, including facilities operated by Almondco Australia (Pike River), Laragon (Renmark), Olam International (Carwarp), Select Harvests (Wemen) and the Australian Farming Services (Murray Downs) provide multiple processing options should this be required.
The Portfolio is accessible via established road networks and the large regional town of Mildura features a comprehensive range of amenities and services, including retail, financial, medical, government and education facilities (primary, secondary and tertiary) and a commercial airport with regular direct flights to Melbourne, Sydney, Adelaide and Broken Hill.
Aware Super’s Almond Portfolio is for sale in-one-line or as any combination of separate assets by Expression of Interest closing 12pm (AEST) Friday, 19 June 2026. For more information, please contact LAWD’s Danny Thomas on +61 439 349 977, Tim McKinnon on +61 448 802 309, or Elizabeth Doyle on +61 400 102 439.
