Three dairy farms in Victoria have been listed for sale with a combined asking price of more $30 million.
Victoria’s spring rural property season has roared to life with a portfolio of three large-scale dairy farms running almost 3000 cows hitting the market with a price tag of $30 million-plus.
The Weekly Times can reveal the 713ha Tara property near Warrnambool in southwest Victoria, the 476ha Melro near Heywood in the Western District and the 863ha Tarraville near Yarram in South Gippsland have been listed for sale.
The properties, which run a combined 2840 cows producing 18.4 million litres of milk annually, are understood to be owned by an overseas-based fund and managed by Compass Agribusiness.
They are being offered as a whole or separately on a walk in-walk out basis including livestock and plant and equipment, with expressions of interest closing on November 13.
CBRE Agribusiness is handling the sale but agent Peter Ryan declined to comment when contacted by The Weekly Times.
Tarraville runs 1120 cows producing 7.4 million litres of milk a year while Tara and Melro each produce 5.5 million litres of milk annually from 870 and 850 cows respectively. In 2015, The Weekly Times reported that Melro had sold for $7 million and Tarraville for $8 million.
The offering the latest in a string of high-profile dairy listings or deals in recent months. In June, South Australian food processor Beston Global Food Company said it had sold its four Mt Gambier dairy farms to Aurora Dairies, owned by Canada’s Public Sector Pension Investment Board, for $40.4 million.
Gippsland dairy giant Gray Wigg last month listed its farms at Nambrok and Winnindoo in the Macalister Irrigation District for sale. Expressions of interest for its portfolio, which is believed to be one of Australia’s biggest dairy operations milking about 5000 cows, closed last Friday.
