Skip to content

Elders brokers record farmland sale

Elders brokers record farmland sale

Fifth generation family-owned company AJ & PA McBride Pty Ltd has agreed to purchase ‘Telopea Downs’ from Qatar’s sovereign wealth fund-owned Hassad Australia, bringing the iconic 47,677-hectare property back into Australian hands.

Elders Real Estate has confirmed the sale of the aggregation of eleven properties, spanning the Victorian/South Australian border, which represents one of the largest transactions ever undertaken in Victoria.

“It’s a good fit with our portfolio and long-term strategic plan and is the largest increase in the size of the company since the acquisition of Wilgena in 1924,” says AJ & PA McBride Chairman, Keith McBride.

The aggregation is primarily disposed of as a sheep breeding and trading station, together with ancillary cropping and cattle operations.

“The acquisition will complement our strength in wool production and may provide some short-term stock trading opportunities as well as long-term pasture improvement potential to enhance productivity on the property.”

The transaction was executed off market and brokered by Elders General Manager Real Estate, Tom Russo.

“It is wonderful to see a highly respected Australian family business acquire the aggregation in what is a truly visionary move that reflects the ever-growing confidence in Australian primary production,” Mr Russo says.

Until settlement in September, the financial details of the transaction are subject to a confidentiality agreement.

“As the company approaches its centenary of operations, our vision of a strong, united and profitable family owned company remains as true today as one hundred years ago,” Mr McBride says.

“The acquisition of Telopea Downs will grow the company for the benefit of future generations of our family.”

Now in its tenth decade of operations, AJ & PA McBride is one of the largest wool producers in the nation.  ‘Telopea Downs” will add to its nine grazing properties around South Australia as well as viticultural and commercial assets.

Having begun operations in 1920, all shares in AJ & PA McBride are still held by descendants of the founders, and the board of the company now has a director in the fifth generation on the family.

Also published: Australian Financial Review

Related articles from the view

Jul 9, 2018

One of Australia’s most advanced dairy aggregations on the market

One of Australia’s most advanced dairy aggregations, Coomboona Dairies in the Goulburn Valley, is being offered to the market as a whole or as two contiguous holdings. The asset has been listed with Elders Real Estate on instruction from Stewart McCallum and Ryan Eagle of Ferrier Hodgson and the sale process is being managed by…
Read more
  • Rural
Aug 21, 2018

National Conference Recap 2018

At the beginning of August 2018, 165 attendees from the Elders network came together on the sunny Gold Coast for two days of spectacular speakers and networking opportunities. This year, the focus was on digital innovation in the real estate industry. The annual conference is an ideal opportunity for guests to develop personally and professionally,…
Read more
  • Commercial
  • General
  • Residential
  • Rural
Jul 8, 2018

Elders opens new offices in July

Elders Real Estate continues its strong expansion, with three new locations opening across Queensland and South Australia in July. The Queensland addition includes Toogoom and Northern Beaches offices, while in South Australia the service offering is set to increase on the Yorke Peninsula, with new franchise locations in Ardrossan and Port Vincent. Elders Real Estate…
Read more
  • General
Jul 3, 2018

July 2018 RBA Announcement

At its meeting today, the Reserve Bank of Australia (RBA) decided to leave the official cash rate unchanged at 1.5 per cent. Today’s decision makes it 23 months in a row where the RBA has decided to leave the cash rate on hold. That is just one month short of 2 years and also the…
Read more
  • General
Aug 14, 2018

City vs Country: What your housing dollar will buy you

People move to the country for many reasons. The fresh air, the relaxed lifestyle, the chance to bring up kids somewhere they can run for hours. One of the main reasons is that regional Australia offers a far more affordable option than the capital cities, so you get more bang for your buck. But how…
Read more
  • General
  • Residential
  • Rural