Family-owned cotton farm sells for speculated $100 million to Australian interests
ABCOne of Australia's best mixed-farming operations with more than 6,000 megalitres of water entitlements has sold for a speculated price of about $100 million. Key points: Industry sources have speculated the farm sold for $100 million, but the final price tag is confidential The property is a renowned producer of irrigated cotton and has more than 6,000ML of water entitlements The farm sold to an Australian, family-owned entity and will not be subject to foreign investment review The sale price and buyer of the family-owned, 12,168-hectare South Callandoon property near Goondiwindi on the Queensland-New South Wales border remain confidential and are subject to a conditional contract. "It's quite a significant sale, and obviously it's the biggest one I've ever done in my short time of 18 years in the property game," Mr Jakins said. Sold to Australian family Mr Jakins said the buyer was another Australian and family-owned entity, and the transaction would not require Foreign Investment Review Board approval.
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