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04/06/2018 - Angus Stud Dispersal Sale

Twynam Agricultural Group will be holding Jemalong Station's Stud Dispersal sale on Thursday 14th June, 2018 at the property near Forbes commencing at 10am.

The sale catalogue may be viewed or downloaded here.

Angus Semen for Expresion of Interest.

 

09/04/2018 - Media Release

Twynam Agricultural Group Pty Ltd has entered into contracts for the sale of its three Lachlan River frontage properties Jemalong Station & Jemalong Citrus at Forbes NSW and Merrowie at Hillston NSW. The total consideration for the land and water components of the said properties is in excess of $115m.

The Kahlbetzer family group of companies, themselves considered foreign controlled entities for F.I.R.B. purposes, has had a long-term strategy of asset disposal and the farms have all had buyer interest for a number of years. Recently the interest had increased and a number of offers were under consideration.

With the recent introduction of new F.I.R.B. rules, to ensure equal opportunity for onshore investors and farmers, a national 30 day marketing campaign including extensive media coverage and advertising was conducted which resulted in more than 50 enquiries being generated and more than 20 parties undertaking property inspections. Multiple bids were received for all properties.

In all cases the accepted offer was the highest offer received for the land and water components of the respective properties.

The successful bidders are Optifarm Pty Ltd for the two Jemalong properties (a Netherlands based group who commenced deploying funds into Australian agricultural assets in August 2017 with the purchase of Uri Park near Darlington Point NSW) and MRA Merrowie Pty Ltd for Merrowie (a US based institution). As both buyers are foreign controlled entities the transactions require F.I.R.B. approval.

The sale was handled by Gary Johnston (Johnston Rural Group, Forbes) and Bruce Gunning (Ray White Rural International, Sydney).

 

05/02/2018 - Announcement

Twynam Agricultural Group have announced that it will be offering for sale three of its Lachlan River frontage properties by way of expression of interests closing on the 12th March 2018.

The properties include Jemalong Station, Jemalong Citrus at Forbes and Merrowie at Hillston.

Jemalong Station is located approx. 35kms west of Forbes. It is comprised of 13,387 Ha with 2,384 Ha of irrigation development and includes 8,885 ML JIL Water (Jemalong Irrigation Licence), 3,107 ML Groundwater.

Adjoining Jemalong Station is Jemalong Citrus with the area of 360.84 Ha. It has access to 1,000 ML Groundwater and 750 ML JIL Water. The property comprises approx. 170,000 orange trees with principally winter juicing varieties.

The other property being offered for sale is Merrowie which is situated 15kms west of town of Hillston. It is approx. 32,730 Ha with 9,906 Ha of developed irrigation and has available approx. 6,689 ML of General Security Lachlan River Water Entitlements as well as 10,528 ML of Groundwater Licence and approx. 16,000 ML above ground water storage.

The properties are being offered for sale as part of the ongoing downsizing of the company's agricultural property holdings.

The sale is being handled by Gary Johnston of Johnston Rural Group Forbes and Bruce Gunning of Ray White Rural International Sydney.

 
 
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