An expansive expanse of agricultural land is poised for acquisition in the northern region of Western Australia, earning its distinction as the new heavyweight in property offerings. The parcel, aptly christened the Kimberley Cattle Portfolio, is situated near the picturesque town of Broome. Its staggering size? A whopping 2,906,483 hectares, dwarfing the total land area of some of Europe’s smallest countries.
In comparison, the area of the property is nearly as large as Belgium’s total area of 3,068,800 hectares, while eclipsing the areas of both Slovenia at 2,027,300 hectares and Albania at 2,874,800 hectares. It’s a testament to the vastness of the Australian landscape, proving that even in the most remote parts of the world, opportunities for agricultural pursuits abound.
LAWD, a firm of specialist property agents, elegantly portrays the property as a network of “seven pastoral leases…five sub-leases… artfully integrated with an agistment agreement extending across 153,475 hectares.” Impressively, the entire parcel operates as one large-scale portfolio. Does size matter? In the realm of land sales and agriculture, it would seem so.
Further sweetening the offer, LAWD’s listing elucidates that the land is “well-watered by numerous bores replenishing dams, tanks and troughs,” all conveniently nestled within a radius of 350 kilometers. It’s a promising canvas for prospective holders, primed with the tools for a blank slate for agricultural ingenuity.
The exact monetary value of the land still remains undisclosed with potential buyers invited to express their interest. Nonetheless, Rabobank’s forecast for 2023 sets a conservative estimate for land prices in Western Australia at approximately $6,000 per hectare.
Citing from the Australian Agricultural Land Price Outlook, “In Western Australia, the prices paid for farmland have reached a historic summit after three successive bountiful seasons. The average agricultural land price saw a surge of 22.5 per cent in 2022, elevating the value to slightly above $A6000 a hectare.”
While the size of the Kimberley Cattle Portfolio is undeniably significant, it doesn’t quite clinch the record for the biggest land sale documented. That honor goes to the sale in 2015 where the Kidman cattle empire listed an 11,000,000 hectares tract of land, the largest ever private land sale worldwide. The remarkable land was appraised with a $325 million price tag at the time, cementing its place in history. Yet, this recent offering signals that the land market in Australia remains robust and promising for prospective investors.
