Rendell Dairies in the Goulburn Valley are up for sale.

Goulburn Valley dairy farm tipped to fetch $10 million

Larry Schlesinger|Apr 16, 2019

Father and son dairy farmers Geoff and Spencer Rendell have join the rush to capitalise on huge global demand for protein-producing farmland by putting their 1263 hectare dairy farm in Victoria’s Goulburn Valley onto the market.

Comprising three properties near the regional centres of Echuca and Shepparton and close to Fonterra and Murray Goulburn processing facilities, Rendell Dairies was established 15 years ago by the New Zealand-born farmers.

The large dairy enterprise, offered with vacant possession and with the capacity to milk up to 1800 cows, has market expectations of around $10 million.

Its listing follows the controversial $280 million sale in November last year of New Zealand-owned Tassie milk producer the Van Diemen’s Land Company to Moon Lake Investments, controlled by Chinese businessman Lu Xianfeng.

Also last year, one of Tasmania’s biggest dairy farms, Corrigan Dairies at Circular Head, was put up for sale with expectations of about $30 million.

CBRE’s Danny Thomas, who has been appointed to sell Rendell Dairies with fellow agents Duncan McCulloch and James Beer, said the sale represented an outstanding investment opportunity.

“The opportunity to acquire a premium dairy asset in a proven location such as the Goulburn Valley is expected to attract significant buyer interest, from both domestic and international investors,” Mr Thomas said.

The property includes approximately 300 hectares of centre-pivot irrigation and about 450 hectares of flood irrigation, two dairies, five dwellings and several sheds and workshops.

Mr Thomas said the sale came when interest was strong in Australia’s agricultural market.

“In the current climate, the lower Australian dollar and stable commodities forecast is driving international interest, and as a consequence of this we are seeing an increasing sense of urgency among domestic investors looking to secure a range of high-value assets.”