Buyers to go nuts for farming opportunity near Cairns
COMPETITION, particularly from Asian buyers, is expected to be fierce for the multi-million dollar sale of Australia's only commercial cashew farm west of Cairns.
Colliers International Cairns managing director Stacey Quaid said that the 1020ha property at Dimbulah was only being sold because one of the directors was retiring.
"This is really a once in a lifetime opportunity," he said.
"As the only Australian operator in an industry showing consistent growth in demand, this is a chance for a new operator to reap the fruits of the previous, far-sighted investment in what looks to be an important industry in the Far North."
Jesse Manuel of Colliers International Rural and Agribusiness said that while it was envisaged that there would be interest from both corporate and institutional buyers, it was expected that a number of offshore investors and funds which were seeking high-quality Australian agricultural assets would make a bid.
"While the entire harvest is presently sold on the Australian market, our proximity to the key export markets, including China, India and Japan, means that there remains huge export potential for 'clean green' Australian product."
The plantation is near Dimbulah, about two hours drive west of Cairns. The property includes about 1020ha of freehold land, including 700ha under irrigation.
The plantation includes 35,000 mature and productive cashew trees, plus a further 30,000 trees nearing production as well as cleared land suitable for a further 45,000 plants.
Mr Quaid said that a combination of ideal soils, high rainfall and secure water resources, including a 1000 megalitre water allocation, helped to provide a quality crop, assisted by the extensive research that had gone into the plant selection and grafting that had produced high- yielding trees which were largely considered to be among some of the world class varieties.
"The water rights provide significant advantage to the investment and this will be attractive to a number of investors," he said.
Mr Manuel said the owners had invested a significant amount into expanding infrastructure, providing opportunity for investors to increase production.
He said an additional 300ha of land had been cleared for cultivation.
"When you add up the fundamentals of high quality, high producing plants, availability of natural and stored water, high demand, high value product and fast approaching production multipliers, this is an investment that should not be missed," he said.
Expressions of interest close on December 5. Phone 0418 773 258.
NEW CAIRNS.COM.AU COMMENT POLICY
We welcome your comments on this story. Comments are submitted for possible publication on the condition that they may be edited. Comments submitted without a full name and suburb/location will not be considered for publication. Please read our full comment policy and publication guidelines.
Share this article
Tasty deal: Asian buyers are expected to figure large at the multi-million dollar sale of Australia's only commercial cashew farm west of Cairns.