OVERSEAS and interstate interest in buying orchard land in the Sunraysia region has increased remarkably since the start of the year according to a long established Mildura real estate firm.
Roccisano Property Group agribusiness specialist real estate agent, Michael DePalma, says there is a growing amount of foreign investor inquiry.
Inquiry from both interstate and overseas interests are looking for suitable land to grow different varieties of fruit, almonds, vegetables and avocados he said.
Mr DePalma says since the beginning of 2015 he has regularly received inquiries from around Australia and overseas but predominantly from Victoria, Queensland, New South Wales, the United States and China.
(Mildura has) received inquiries from around Australia and overseas but predominantly from across Victoria, Queensland, New South Wales, the United States and China (for fruit farms)
Chinese and US interests he has been involved with are well prepared and many prefer to conduct personal tours of the area rather than communicate solely via technology.
“They are mostly personal visits rather than approaching us via the Internet,” Mr DePalma said.
“They have done their homework and they are flying out here with agronomists.
“I spent last week driving around the area with some overseas people.”
This year there is a marked interest in property suitable to grow almonds and avocados with potential buyers looking for land ranging from around 202ha up to and over 404ha.
Recent news of increased interest in land to grow an assortment of horticultural crops comes after the Roccisano Property Group reported it had negotiated the most lucrative horticultural farm transaction in its firm’s history on September 10.
A Happy Valley 939 hectare market garden with substantial warehouse coolroom sheds and significant improvements, plus an abnormally large water licence, sold at auction for $11,500,000.
A Happy Valley 939 hectare market garden . . . sold at auction for $11,500,000
Mr DePalma says Melbourne based interests bought the mixed vegetable production property and indicated it will remain operating as a market garden.
The property has about 900ha with underground mains to supply fixed sprinklers from a 500 megalitre plastic lined dam. The property was sold with a 4999 megalitres of high reliable annual water licence drawn from the Murray River using two 200 horsepower pumps.
Prior to the auction the interest was “huge” Mr DePalma says with multiple inquiries coming from Victoria, Queensland and NSW as well as the USA and China.
Before the auction there was three interested parties but only one of these bid and succeeded on the day. The sale of the Happy Valley property has set a new benchmark value for market garden properties in the Sunraysia area.
It was the firm’s highest recorded sale price for a single market garden property in the company’s 40 year agricultural real estate sales history (see similar topic below).