More Chinese-owned land reverts to Australian Ownership

A 634,000ha premier cattle station in Western Australia’s Pilbara region has been bought by one of Australia’s richest families for at least $32m.

One of Western Australia’s largest cattle stations will return to Australian ownership after billionaires Andrew and Nicola Forrest   their intention to purchase the property for $32m-plus.

Balfour Downs pastoral station, which spans 634,000ha, has been purchased by the Forrest family’s agribusiness company, Harvest Road.

Balfour Downs was listed for sale by Chinese businessman Xingfa Ma in March last year, with a price tag between $32m and $40m.

The station, which has rarely changed hands in the past 100 years, is located in WA’s Pilbara region and includes three separate pastoral leases.


Coulton family buy Kalanga cotton aggregation from Boston-basedHancock Agricultural Investment Group for $80m

One of Australia’s premier cotton holdings has a new set of owners after the Kalanga aggregation was sold to a family farming operation in a deal worth around $80m.

Boston-based Hancock Agricultural Investment Group placed their 12,840ha cotton holding on the market in mid-2021, with a price tag of more than $70 million.

But now the aggregation is back in Australian hands after the Coulton family, via Morella Agriculture, from Boggabilla in a NSW secured the deal.

They operate across a number of properties totalling a massive 809,371ha spread from Thargomindah to Goondiwindi, Bungunya and Toobeah in Queensland as well as from Boggabilla to Ebor in northern NSW.


PSP Investments is to sell Kooba Pty Ltd farms Glenmea, South Farm and Pevensey for more than $70 million.

Canada’s PSP Investments — the biggest investors in Australian farming space with about $5 billion worth of land and water assets — is offloading a portfolio of farms in the NSW Riverina.

PSP subsidiary Kooba Pty Ltd could receive north of $70 million for the aggregation of four properties totalling almost 20,000ha west of Hay with a water entitlement of 17,000 megalitres.

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