Citrus farm in NSW’s ‘food bowl’ for sale: $60m price expectations

There’s no need to compare apples with oranges anymore, because this citrus farm in NSW’s Riverina region is for sale.

Orange you glad you clicked on the listing for the farm in Nericon? It’s just outside of Griffith and offered by Erica Semmens and Danny Thomas of Lawd Property Melbourne.

Nericon Citrus grows two orange varieties, as well as mandarins and seedless lemons. Picture: realcommercial.com.au

Nericon Citrus is one of Australia’s largest orchards, situated on 557 hectares and forecast to produce 23,600 tonnes by 2030 as the orchard matures.

“Nericon Citrus is one of Australia’s largest and most strategically positioned citrus orchards, with a highly experienced management team, which has developed and managed the asset for the past seven years,” Mr Thomas said.

“Ongoing enquiry is anticipated from corporate and institutional investors, together with established horticultural operators seeking high-quality expansion opportunities of scale,” Ms Semmens said.

There are generous water entitlements, as well as first-class irrigation systems already in place.

Earnings by 2030 are projected to reach $13.04 million; now there’s an investment opportunity that could potentially bear fruit.

Nericon Citrus is turn-key and ready to go. Picture: realcommercial.com.au

The farm grows two different kinds of navel oranges, mandarins, as well as seedless lemons; navel oranges (314ha), red flesh navel oranges (84ha), afourer mandarins (51ha) and seedless lemons (18ha) make up the bulk of the plantation.

Approximately 85% of citrus plantings were established in the past eight years, meaning total yield won’t hit its straps until 2029, giving the orchard plenty of green shoots for years to come.

And if you’re worried about having to turn lemons into lemonade, then don’t, because there’s a management team in-place that’s been on the job for seven years, collectively providing more than 50 years of citrus expertise.

“The investment in extensive capital expenditure projects to reposition the orchard into a premium fresh-citrus operation, is delivering high-yield varietals and an extended harvest window to maximise operational efficiencies, and unlock broad, higher-value market access,” Mr Thomas said.

The farm sports approximately 89ha of protective netting. Picture: realcommercial.com.au

Currently, the orchard benefits from approximately 89ha of protective netting and 29 automated frost fans.

Onsite there is also a manager’s residence of about 175 sqm, plus six sheds spanning more than 2,300 sqm, and two workshops totalling 800 sqm.

Now it’s over to you to see if the juice is worth the squeeze, just stop gazing at your navel because expressions of interest close on 5 March.

Price expectations are north of $60 million.

Farms under the spotlight

Last year proved to be an interesting one in terms of farms of all shapes and sizes trading hands.

A total parcel of Australia’s land area surpassing the size of 148 small nations combined was snapped up, with the largest transactions going to foreign buyers.

In the Riverina, a Canadian pension fund acquired 30,000ha for $500 million; over in WA, UK-based Consolidated Pastoral Company acquired Rawlinns Station for more than $20 million, which is Australia’s largest sheep station.

Consolidated Pastoral Company now owns the equivalent land mass almost the size of Tasmania, headed up by billionaire investor and private equity manager Guy Hands.