The Nicoletti Family has placed its entire 200,000-hectare portfolio in Western Australia up for sale in one of the country’s most significant agricultural land offerings.
On offer is 76,575 hectares of freehold land, of which 62,768 hectares is arable, and 127,018 hectares of leasehold land that will be assigned to the purchaser, of which 95,040 hectares is arable.
The portfolio also includes more than 50,000 merino ewes plus progeny; significant infrastructure including more than 25 staff residences, 12 shearing sheds, livestock yards and multi-purpose sheds; 80,000 hectares of crops sown for 2018; and 15,000 tons of vertical storage in Merredin and adjacent to a site owned by CBH Group, Australia’s largest grain exporter.
John Nicoletti sold 70,000 hectares of land to Hong Kong-based CK Life Sciences in 2016 in what was then the biggest single offering of freehold land in Western Australian history.
Nicoletti is set to exit farming with this sale and will concentrate on running his string of John Deere dealerships across Western Australia’s Wheatbelt.
The sale of his remaining portfolio is expected to attract significant interest from both domestic and overseas buyers.
It follows several recent large listings in Australia including Adveq Almond Trust 2, one of the world’s largest almond orchards in Victoria, and the country’s second-largest cattle station, Clifton Hills, located in South Australia.
CBRE is running the sale, with non-binding expressions of interest due by June 29.