News Land market
Australia Giga arable farm for sale
Entrepreneur John Nicoletti offers his mega-arable farm in the state of Western Australia (Western Australia) for sale. This concerns more than 200.000 hectares of land, where mainly cereals are grown. Including buildings and machines, the asking price amounts to €47,4 million to €53,7 million.
It is the largest contiguous company ever put up for sale in Australia. This concerns 76.000 hectares owned and 127.000 hectares leased; mainly arable land, spread over 30 companies in 9 municipalities. The asking price is between 75 million and 85 million Australian dollars, converted €47,4 million to €53,7 million.
53,7
million
Nicoletti also made headlines in 2015 when he sold 70.000 hectares. At the time, that was the largest deal in the history of the state of Western Australia. The buyer was the Chinese company CK Life Sciences from Hong Kong, who deposited €22,76 million for the land which Nicoletti then leased for 10 years ago. This contract is offered to potential buyers with the current offer.
Focus on John Deere
His previous deal came after 3 bad years, but this time it's his age that plays a role. Nicoletti is nearly 65 and wants to spend more time on his 6 John Deere dealerships in the state. He does not care who the buyer is, as long as the company and the 25 employees present are treated well.
"There are plenty of international financial funds that want to invest money in agricultural land. Now is the perfect time," thus Nicoletti. "It's about timing." It is currently very dry in Western Australia. If it rains in time, the plan is to sow 80.000 hectares of arable crops. The new buyer can then harvest it. If there is no serious interest, the company will continue as usual for another year. The sale is not forced.
Complete company
The buyer not only acquires a huge amount of land with the deal. There are 25 sites and 12 sheep barns for a total of 50.000 ewes. Grain can be stored in silos with a capacity of 15.000 tons. There are 14 combine harvesters, 12 seed drills, 13 articulated tractors, 7 regular tractors, 7 sprayers and 4 cultivators. Of course almost all from John Deere.
Niels van der Boom
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