ONE of Australia’s largest and best-known farm properties, Milton Downs, near Moree in north-west New South Wales, has been sold at an undisclosed price to a young family who was already farming in the wider region.
The 19,060 hectare property is located west of Bellata and north of Wee Waa, and went on sale last year with Moree Real Estate on behalf of the seller Ron Greentree.
the Kahlbetzer The family’s Twynam Farming Group sold Milton Downs and neighboring Boolcarrol to Wee Waa in 2008 for $75 million to Greentree Farming, a partnership between Mr Greentree and the Harris family.
This added around 48,000 ha of mainly cropland to the now defunct Greentree Farming portfolio, spread across the north west plains of New South Wales.
Prior to the purchase of Twynam, Milton Downs was owned by the Honan the family’s Manildra Group, which used the property to produce high-protein wheat for its milling operations.
Across Australia, planting of winter crops has started after good rains in most parts, and sources report that harvesting is already underway in Milton Downs following the clearing sale on the property last month. , according to Greentree Ag.
Eight years later
Greentree Farming first listed Milton Downs and Boolcarrol in 2014 with Ray White Rural.
As part of the liquidation of Greentree Farming, the Harris family now owns Boolcarrol outright and in September 2016 The Australian Financial Review reported that 10,000ha in the southeastern part of the Milton Downs aggregation were sold to the American investment firm Westchester for around $50. M
Milton Downs’ average rainfall over the 10 years to 2020 was 592 millimeters, and the country features black and gray self-mulching loams suitable for summer and winter crops.
A crippling drought that swept through southern Queensland affected most of New South Wales’ farm country from 2017 to 2019 and dampened activity in the state’s property market.
A return to good seasons, coupled with high grain and cotton prices and low interest rates, has led to a resurgence in sales since 2020 to family and corporate interests.
Transactions include: Tiela to Bullarah; Merrimbla to Gurley and South Callandoon to Goondiwindi.
Moree Real Estate declined to comment on any aspect of the Milton Downs sale, and the buyer and seller did not respond to calls from Grain Central.
Grain Central understands that Mr Greentree continues to run a family farming business based in Mungindi on the NSW-Queensland border and is also involved in cotton farming in the Ord region of Western Australia.
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