A prominent Victorian farming family (backed by a foreign investment fund) has secured one of Western Australia’s most sought-after mixed farming enterprises, Cherylton Farms, following a competitive expression of interest campaign that closed on 1 December 2022.

Positioned in the Great Southern Region, 23 linear kilometres south west of Kojonup, the 8,554 hectare property drew attention from both local, national and international parties.

Cherylton Farms’ existing operations include diversified cropping and livestock grazing, focused on the production of high-yielding crops including cereals (barley, oats and wheat) and oilseeds (canola), as well as Merino and composite sheep flocks.

LAWD Director, Simon Wilkinson, congratulated both parties following the sale of the blue-chip asset.

“Congratulations to both our Vendor and farm manager Mike Cameron, on developing such an outstanding asset” Mr Wilkinson said.

“The new owners will benefit from the strategic farming practises implemented by Mr Cameron, who is well regarded for his ability to develop agricultural farmlands into high performing assets, through a careful combination of scale, precision management and a strong focus on team culture.”

“The sale is record breaking for the area, based on a result of greater than $100 million on a walk-in-walk-out basis.”

“The successful purchasers hold very similar core values to the Cherylton Farms’ team which will assist in supporting the continuation of this prosperous enterprise.”

“As the exclusive selling agent, LAWD are not only proud to be involved in the sale of such a high-quality asset but are also delighted that we were able to match Cherylton Farms with a new owner with the same commitment to maximising operational efficiency, productivity and sustainability, along with the retention of the existing staff” Mr Wilkinson said.

WA property in demand

LAWD Senior Director and well-known rural property specialist, Danny Thomas, said Cherylton Farms’ outstanding sale price reflected a broader trend of large investors seeking agricultural assets that offer quality and scale in WA.

“We have seen both direct foreign investors and domestic institutions recognise the significant value offered in WA in comparison to east coast Australia and overseas land markets,” Mr Thomas said.

“We experienced exceptionally high levels of participation from institutional investors in the sale process for Cherylton Farms.”

“Any Western Australian vendor looking to divest a high-quality, large-scale asset in the current market will see that asset met with very high demand noting accepted district land values are likely to be eclipsed.  LAWD expect to see this trend continue to strengthen through 2023.”

For more information, contact Simon Wilkinson on +61 456 758 341, Danny Thomas on +61 439 349 977 or Erica Semmens on +61 419 714 039.