The recent sale of Western Australia’s Merredin Farms Wheatbelt Portfolio marks the end of a period of foreign and investment ownership, as the property has reportedly been acquired by several local farming interests. While details of the sale have not been officially confirmed by agent Colliers, industry sources suggest that the portfolio has been divided and sold to six or seven entities.
Among the buyers is John Nicoletti, who, along with his wife Julie, originally aggregated 200,000 hectares of leasehold and freehold land that was acquired in 2019 by the Saudi Agricultural and Livestock Investment Company and operated as Merredin Farms. Over the years, parts of the aggregation have been sold off, with WA-based investor PenAgri also acquiring a stake in the operation. Earlier this year, the 77,954-hectare Merredin Farms Wheatbelt Portfolio was listed for sale through an expressions-of-interest campaign with Colliers.
Despite initial attempts to sell the portfolio as a whole, it was eventually listed in two portions – the Bodallin Aggregation covering 37,553 hectares and the Warralakin Aggregation covering 40,401 hectares. These two aggregations consist of numerous titles in the North Bodallin district of WA’s Central Wheatbelt.
The sale of the Merredin Farms property is further supported by the upcoming NASCO Auctioneers’ machinery auction, which is said to be one of the largest single-vendor broadacre machinery auctions in Australian history. The auction will feature over 600 lots, including a range of farming equipment such as John Deere headers and tractors, Case tractors, as well as various grain-handling and farming gear.
The sale of Merredin Farms to local farming interests signifies a shift away from rumors that Perth-based Woodside Energy was considering purchasing the property as a carbon offset for its oil and gas production. It also reflects a growing trend towards greater economies of scale within existing WA farming operations, as opposed to relying on offshore or domestic investment funds for ownership.
Both SALIC and PenAgri, the former owners and investors in Merredin Farms, have been approached for comment on the recent sale. The transaction marks a return to local ownership and management of the property, signaling a new chapter for the agricultural community in the region.
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