NSW cotton farm picked off for first time in a century

A cotton farm on the New South Wales border is set to change hands.

The Parkdale Aggregation, which is located in top cotton producing region Goondiwindi in the heart of the Whalan Creek floodplain, caused a stir in the market when it was put up for sale in recent months, with more than 40 potential buyers showing interest, according to agents JLL and Nutrien Harcourts.

JLL’s Agribusiness Director Clayton Smith revealed that eight formal offers were made for the blue-chip enterprise by the close of the Expressions of Interest process on July 31.

While the buyer’s identity and how much they offered has not been made public, the Smith confirmed an interstate-based family outbid the corporate and overseas interest.

“We had interest from every sector with offers coming from both corporate and the private domestic sectors,” Smith says.

“It was a close decision in the end with three outstanding offers for the whole aggregation.

“The rare opportunity to secure a large Border Rivers Irrigation Entitlement was attractive to irrigators and investors alike. We saw practicality win the day as the water entitlement underpinned the overall asset considerably.”

The aggregation, which was put up for sale by local sole trader Wally Taylor, was sold bare of plant and equipment, with approximately 1300ha of growing winter crop included.

Smith says the sale will settle ahead of the cotton season in September.

A major online machinery dispersal sale will also take place next month.