Two of Australia’s well-established multi-generational farming family enterprises have sealed the sale of the large-scale irrigation holding, Torrumbarry Farms Aggregation.
The successful purchaser was Queensland-based McLean Farms. The second-generation shareholders, descendants of founders Arthur and Hope McLean, own a similar sized farming operation situated at Pittsworth, on the Darling Downs.
McLean Farms will expand grain production under the Torrumbarry Farms Aggregation irrigated and dryland systems to supply their diverse interests, including their Victorian poultry operations at nearby Bendigo.
McLean Farms’ Managing Director, Andy Crocker, said “The McLean family is renowned for large scale sustainable agricultural holdings and this acquisition will support our existing operations and underpin future growth”.
The extensively developed Aggregation in northern Victoria’s Loddon Mallee region was offered by Australian Fresh Milk Holdings, which is owned by the Perich family, the Moxey family and New Hope Group.
Although the aggregation is now surplus to the AFMH Group’s requirements, LAWD Senior Director, Danny Thomas, said they were pleased to see the property go to another successful farming family with strong values and connection to the land.
“It’s always rewarding to see a significant property like this transition from one family to another, continuing the legacy of hard work and land stewardship,” Mr Thomas said.
“The original Torrumbarry property was owned by the Baillieu family for approximately 60 years. It’s rare to see large scale properties retained in family ownership in a market awash with foreign capital.”
Torrumbarry Farms Aggregation is adjacent to the Murray River and Gunbower Creek near Echuca and comprises 4,031ha with close to half developed as irrigation under centre pivot, lateral, and flood irrigation; with the balance of dryland cropping; and grazing and support land.
Mr Thomas said the strong sale price reflected the confidence not only in large-scale assets, but also the demand for irrigation as producers looked to mitigate weather risks.
“The sale attracted a lot of interest as buyers are looking for productive assets that provide water security for ongoing production during times of drought,” he said.
The sale was brokered by LAWD Senior Director, Danny Thomas and LAWD Director, Erica Semmens.
