Steggles owners buy $60m North Richmond farm
The family behind huge poultry brands such as Steggles and Barter, that is also one of the country’s most profitable property developers, has snapped up a major grazing farm in North Richmond for about $60 million.
The Baiada family’s private Sydney development firm EJ Cooper & Son, that makes profits of more than $100 million a year from a string of projects in Sydney’s west and Queensland’s southeast, has swooped on the property known as Hambledon Park.
The play is not expected to mark a diversification of their agricultural holdings, rather it could see the parcel, that was originally marketed with a price tag of up to $140 million, turned over to housing development.
The Peel and Beamont families tapped Cushman & Wakefield to sell the agricultural land package about 67km northwest of Sydney’s CBD, last year.
Cushman & Wakefield’s Anthony Bray and James Linacre fielded interest from developers and agricultural industries for the property.
The Peel family bought Hambledon Park in 1972 and built it into a 1200-cow dairy farm supplying Sydney for 28 years. In recent years, dairy cattle were replaced with a breeding herd of about 300 black angus cattle.