Extensive Mildura district dryland cropping enterprise, Petro Station, has been transformed by agricultural investment company goFARM to deliver both outstanding agricultural outputs and environmental outcomes, and is expected to attract in excess of $20 million when its listed by national real estate and advisory firm, LAWD on 12 September.

The contiguous 26, 673 ha, located in New South Wales, 50 linear kms north-east of Mildura, Victoria, utilises almost 10,000 ha for broadacre production with the remaining land dedicated to conservation, to protect native flora and fauna.

Well-known for its ability to transform land into highly-productive, future-focused agricultural assets, goFARM purchased Petro Station in 2017 and has since undertaken significant improvements to offer, high capacity soils with excellent moisture holding capability, modern infrastructure, and a sophisticated water network.

goFARM Managing Director, Liam Lenaghan, said the property’s transformation was rolled out over a prescribed five-year program to increase scale of production and operational efficiency, in addition to converting the land from Crown Lease to Freehold.

“Petro Station is regionally renowned for its high quality red sandy loam soils and prime pine-buloke country,” Mr Lenaghan said.

“We saw Petro Station as a blank canvass, an ideal platform for implementing the same best practice farming system that has revolutionised the Mallee in the past decade. Our focus has been on applying strategies, technologies and disciplines to enhance soil productivity, capture and utilise rainfall, and build resilience into the farming system.

“Our outstanding management team introduced farming best practices, including a no-till approach, crop diversity, a robust nutrition program, and precision agriculture technology to facilitate site-specific management practices to optimise inputs and returns.

“Petro Station is really starting to show its capacity to produce. It has been transformed from a traditional, cultivated pasture-fallow-wheat farming program to a modern, proven, best practice farming system, and as a result we are expecting 25,000 tonne to 30,000 tonne of lentils, chickpeas, wheat and barley harvest this year,” Mr Lenaghan said.

Water supply is a feature with supply secured via two separate sources, a licensed Stock and Domestic water entitlement with private diversion from the Darling River via a 32km pipeline. Groundwater bore water, treated by an onsite desalination plant, offers a second source of water and is used as back up for spraying. Water is distributed around the farm via underground pipeline, and stored in fourteen 130,000L Rhino tanks.

The property also features a considered farm hub with new workshop, chemical shed and machinery and hay sheds. Eleven 75 tonne grain silos were also added to the existing three 55 tonne silos, and a new eight-kilometre boundary fence has been erected.

“We have invested around $2 million dollars in hard infrastructure including, staff accommodation, modern workshop, machinery shed, hayshed, seed and fertiliser storage, water systems and fuel storage. We have even invested more in establishing the capability and capacity to unlock the farms productivity,” Mr Lenaghan said.

In addition, two 15m communication towers and repeaters were installed to support the technology ecosystem on the property. Petro Station can also accommodate all workers onsite with two dwellings and contractors’ quarters, including a commercial kitchen.

LAWD Senior Director, Col Medway, said Petro Station presents a generational opportunity to secure a highly-productive and sustainable primary production asset and is ideally suited to an existing grain enterprise looking to expand operations in an evolving region.

“With the phenomenal rise in rural property prices over the past two years, it has restricted some grain growers wanting to expand their landholdings locally,” Mr Medway said.

“Petro Station has been transformed into a powerhouse for grain production and offers compelling value, compared with other key grain growing areas.

“The bordering Mallee region, has undergone a farming revolution over the past decade, and Petro Station is attractively placed in proximity to Mildura, a thriving regional city providing access to markets, labour and supporting primary production businesses and infrastructure.”

Mr Medway said Petro Station is unique in its ability to offer an additional level of diversification due its Environmental, Social & Governance (ESG) credentials.

“goFARM has done an outstanding job of carrying on the legacy of the previous owners, with more than 12,000ha set aside for the protection of native flora and fauna,” Mr Medway said.

“This commitment to sustainability is evident across Petro Station’s farming system, soil conservation techniques, and environmental management practices, which could potentially provide an income stream in the future through carbon and ESG opportunities.”

For more information, contact LAWD Senior Director, Col Medway, on +61 428 481 243 or LAWD Director Elizabeth Doyle, +61 400 102 439.