Our agent Bruce Gunning, along with Gary Johnston of Johnston Rural Group Forbes, has brokered the $115milion sale of three Twynam Agricultural Group properties, Jemalong Station and Jemalong Citrus at Forbes and Merrowie at Hillston to buyers from the United States and the Netherlands.
The Lachlan River frontage properties were the first to be offered to the market subject to Australia’s new foreign investment selling rules, introduced in February to ensure opportunity for local investors and farmers.
Optifarm, a Netherlands-based group, bought the two Jemalong properties, while a US-based group, Mers Global Investments LLC, bought Merrowie though its vehicle MRA Merrowie.
Jemalong Station is 35 kilometres west of Forbes and comprises 13,387 hectares with 2384 hectares of irrigation development, including more than 12,000 megalitres of water.
Adjoining it is Jemalong Citrus on 360 hectares. It has access to 1750 megalitres of water. The property has 170,000 orange trees, mostly of winter juicing varieties.
The third property is Merrowie, 15 kilometres west of Hillston. It has 32,730 hectares with 9906 hectares of developed irrigation. It has 6689 megalitres of general security Lachlan River water entitlements as well as 10,528 megalitres of groundwater licence.