![]() ![]() ![]() “Across the state, most properties were sold via a tender process or auction, resulting in a higher level of commitment from buyers to secure properties compared to previous years.” Lalor said.Īccording to the report, tight supply led to farmland transactions declining by 2.2% to 223. This led to a scenario whereby demand outstripped supply causing the value of farmland in these regions to increase sharply. The value of high surety irrigation land was recognised by buyers in the Northern and North West regions of the state. “However, farmland remained tightly held. Rural Bank Launceston’s Dean Lalor said strong commodity prices coupled with historically low interest rates, increased confidence in the rural property market in 2020. The South continued to follow a different trajectory with a 3.7% decline in median price per hectare in 2020. The largest median price per hectare rise was recorded in the North West region which increased by 26.7%, followed by the Northern region with 21% from 2019. ![]() The Stonehouse Grazing transaction comes as the latest Rural Bank report shows Tasmanian farmland values soared further into record high territory as supply continues to tighten whilst demand shows no signs of abating.Īccording to the Rural Bank Australian Farm Values index, the median price per hectare jumped by 25.3% to $13,691 in 2020, after rising 11.1% in 2019. The new owner Prime Value has pledged to work with EPA, Tasmanian Dairy Industry Authority and Circular Head Council to “transform these assets.”įurthermore agribusiness identity David Williams bought Sorell Creek earlier this month, spanning 718 hectares on the Derwent River north of Hobart. However, earlier this year Van Dairy Group was probed by the Environment Protection Agency after a leaked auditing report raised concerns about the farm’s management, while the Circula Head Council issued environment protection notices to Van Dairy in April this year requiring dairy effluent management improvements on nine farms. In 2016 then Treasurer Scott Morrison approved the Chinese owned Moon Lake Investments’ $280 million acquisition of the dairy farms from the Tasmanian Land Company. This is the second major rural property and agribusiness transaction in Tasmania in less than a month after Melbourne-based Prime Value Asset Management acquired a portfolio of 11 farms from Chinese owner Van Dairy for more than $60 million. He is a co-developer in the Cattle Hill Wind Farm. The farmer is also a champion of biodiversity and has pioneered alternative ways to generate income from farms by embracing wind generation. He also owns the Dungrove Station, a sheep, cattle, wool and sawlogs enterprise in Bothwell, in central Tasmania on the River Clyde. Located in the Tasmania’s pristine Northern Midlands and Southern Midlands in the Central region, Stonehouse Grazing is a historic 18500-acre farm, a wool and livestock enterprise running about 15,000 sheep.ĭownie has deep roots in Tasmania’s farming community, his family has grazed sheep and cattle for over 150 years. ![]() The $46 million sale is one of the highest prices paid for a single property, of any type, in Tasmania in recent times – since Charter Hall’s acquisition $50.3 million acquisition of the ANZ Centre office building in Hobart’s CBD from businessman and property developer Robert Rockefeller in December 2018.Ī few months later the US-born Rockefeller teamed up with the Newton and Farrell families to buy Hobart’s MACq 01 Hotel for $50 million – below developer Vos Group’s expectations of $60 million and significantly under the $80 million valuation by the Tasmania Valuer-General at the end of 2018. “The deal was done off the market.” the source said. Industry sources told Australian Property Journal, that Downie has acquired Stonehouse Grazing in Lemont, from farmer Tony Seymour for $46 million.Īccording to the source, Seymour has sold Stonehouse Grazing to Downie on a walk-in-walk out basis. EXCLUSIVE: Renowned sixth generation cattle and sheep farmer, and wind farm developer Peter Downie has quietly bought one of the Apple Isle’s historic farms in the largest single asset transaction in Tasmania in recent memory. ![]()
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