‘Behemoth’ Tasmanian irrigated property Vaucluse Estate expected to sell for more than $100 million

A large mixed company assets — with an equally huge history — is up for sale in Tasmania’s midlands, with an inquiring rate of additional than $100 million. 

Spanning 4,448 hectares and historically a mixed merino and cropping enterprise, Vaucluse Estate was obtained in 2015 by US-based mostly personal equity firm Proterra Expense Partners. 

At that place, the property was just in excess of 2,600 hectares but it has because grown to involve quite a few neighbouring titles.

Land Agribusiness Water Development (LAWD) senior director Danny Thomas is overseeing its sale.

“We have been in the current market about a week, and we have had extra than 75 enquiries previously and we have commenced inspections,” he claimed.  

“We’ve bought the total gamut of probable potential buyers so significantly. Some of the interest is from very well-proven domestic gamers.

“They’ve been supplying the world institutions a rather hard time in the current market at the instant, so it wouldn’t shock me if it ended up in very long term family members possession.”

Slice of history

The heritage-detailed homestead at Vaucluse Estate was built in 1830, as a four-story brick and stucco making, then renovated in 1940.

Its longest time period of possession was by the Mackinnon household, who lived there for about 80 yrs, from the 1880s to the 1960s.

For the duration of this time it grew to become known as a main Australian Corriedale sheep stud, with wool clips reaching nationwide selling price records.

The property is consultant of a increased modify in the Tasmanian midlands, as more growers move to heavier investment decision in irrigation and cropping. 

Mr Thomas was not shy about when asked about the aims of the sale.

“This is all about maximising the return to the buyers, so all interest is welcome,” he reported.

“We’re searching for offers of over 100 million, and I assume we’ll roll that in.”  

Massive irrigation 

Vaucluse sits on the banks of the South Esk River with almost nine kilometres of immediate frontage.

In spite of the location only receiving around 500 millimetres of once-a-year rainfall, it is tapped directly into Tasmania’s irrigation network, delivering accessibility to a formidable supply of calendar year-round water.

“There’s in extra of 2,000 hectares of linear irrigation, and 400 hectares of hard hose irrigation,” Mr Thomas said.

“There’s also 15,000 megalitres of h2o entitlements and a lot more than 9000 megalitres of h2o storage.

“It’s a behemoth.”

The house is at present applied for an intensive double cropping program, with a concentration on high-yielding crops like potatoes, poppies, carrot seeds and hemp. 

It also has a major component of cereals, oilseeds, and legumes, run in conjunction with grazing sheep and cattle.

Silo facility

Vaucluse also has a silo facility at close by Powranna, capable of storing more than 5,000 tonnes of grain, which is envisioned to attract different bids from consumers not fascinated in the home by itself.   

Mr Thomas mentioned the house will go on to function as standard as a result of the gross sales approach.   

“There’s a really capable team there, an proven get the job done crew, so actually it’s all set-produced for another person to action into their sneakers and carry on working it as it has been,” he said.

“It’d be foolhardy, given how tough it is to get large quality folks, for the purchaser not to have a dialogue with [the crew] as well.”