Murray River Organics portfolio in the Sunraysia region offered for sale26 April 2022
A portfolio of horticulture properties in Mildura is being offered to market, with buyers expected to make offers for the portfolio and for individual properties.
Colliers’ Duncan McCulloch and James Beer have been appointed by Receivers KPMG to sell the Murray River Organics portfolio, comprising seven individual properties, six of which have been developed to permanent plantings, with the seventh property utilised for grazing and cropping, by Expression of Interest.
The portfolio includes the ‘Merbein Aggregation’, comprising five individual properties located at 75 Alkira Road, Yelta, 45 Quandong Avenue, Merbein, 96 Honour Avenue, Merbein West, 393 and 459 Cowanna Avenue, Merbein and 309 Cowanna Avenue, Merbein South, with a total footprint of approximately 89.43ha, of which 78.2ha is planted to dried vine fruit.
In addition, a further two properties are being offered for sale, including Yatpool West Road, Carwarp, a 382.57ha landholding planted to 75.50ha of dried vine fruit, with other areas of table grapes and wine plantings not currently in production, and Brownport Road, Nangiloc, a 2,508.97ha landholding with 112.70ha under centre pivot and 2,396.27ha of cropping and grazing land.
“The MRO portfolio comprises seven individual properties that will appeal to a variety of different purchasers,” Mr McCulloch said. “We expect the smaller holdings will be sought after by local farmers, with interest in the other assets from small to large fresh produce companies, and dryland farming operators in particular for the property at Nangiloc.
“Given the scale of the offering, scarcity with which these sorts of properties are offered to market, and the development upside available to an incoming purchaser, we also expect there to be strong interest amongst portfolio buyers.”
Mr Beer said: “The MRO portfolio represents a great opportunity for purchasers to acquire productive permanent planting assets with access to irrigation water and quality infrastructure.
“Mildura is well-known for horticultural pursuits and given the unique attributes of the opportunity, we expect the sale will generate significant interest.”
The Murray River Organics portfolio is being offered for sale in one line or as separate properties, closing Tuesday 31 May 2022 at 4pm Australian Eastern Standard Time.