Media Release 30 October 2023

Large-scale irrigated enterprise with substantial water entitlements and carbon credits

An extensive development program, significant and secure water entitlements, and a forestry carbon project estimated to be worth150,000 Australian Carbon Credit Units (ACCUs) are expected to draw significant interest to the sale of Eastern Tiers, an hour north of Hobart in Tasmania’s Southern Midlands.

The 2,311-hectare irrigated and dryland holding, with an annual rainfall of 716mm, is suited to livestock and the production of numerous crops including potatoes, cereals, poppies, hemp, carrot seed, oilseed and legumes. Currently a three-year potato contract is in place with Simplot Australia.

A substantial 5,620ML of water entitlements includes 4,120ML of annual surface water entitlements, an annual bore water supply of 1,500ML and in excess of 4,000ML of water storage, along with newly constructed pumping infrastructure.

Development over the past two years has included construction of a new machinery/shearing shed complex, livestock yards and cottage, as well as 15 kilometres of exclusion fencing, roadways and 27 kilometres of internal fencing.

LAWD Senior Director, Danny Thomas, said Eastern Tiers would offer the successful buyer a diverse revenue stream business, with irrigated potatoes, cereals, livestock and carbon-derived income.

“Tasmania remains undervalued compared to other parts of the country given its abundance of secure water reserves, new infrastructure and attributes that will be attractive to large local farming interests, institutional and international investors,” Mr Thomas said.

Eastern Tiers features 357 hectares of irrigable land, watered by four new Zimmatic centre pivot irrigators, with the opportunity to develop a further 459 hectares of irrigation.

While the property is made up of land types for cropping, sheep, beef and dairy production, another major feature is 379 hectares of forestry (recently planted) that uses plantation methodology to produce ACCUs.

The plantation forestry method requires accounting for carbon stock changes in trees, debris and harvested forest products, taking into account forest growth, disturbances and harvesting. Each ACCU represents one tonne of carbon dioxide equivalent in greenhouse gas emissions stored or avoided, while building a harvestable timber asset at the end of the project.

With significant scope for further development and diversification on Eastern Tiers, Mr Thomas is expecting the Stonehenge property to appeal to a wide range of Tasmanian, mainland and overseas buyers.

Eastern Tiers is being offered for sale through LAWD by Expressions of Interest closing at 12pm (AEDT) Thursday 30 November 2023.

To explore this opportunity, contact LAWD Senior Director, Danny Thomas, +61 439 349 977, LAWD Director, Elizabeth Doyle, +61 400 102 439, or Nutrien Harcourts Rural Property Consultant, Tony Maguire, +61 417 101 392.

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