Twynam Agricultural Group on Monday night announced it will sell three of its Lachlan River frontage properties as part of a decade-long plan to downsize the company’s agriculture properties.
The unparalleled opportunity to acquire one, or a group of the company’s large scale properties, will see Jemalong Station and “Jemalong Citrus” at Forbes and “Merrowie” at Hillston go under the hammer.
“It’s part of a sell down we started 10 years ago… so we are completing that process,” said Twynam Agricultural Group owner, Johnny Kahlbetzer.
Mr Kahlbetzer said company was focusing on other parts of its business.
“We do have agriculture technology investment… some (money) might head in that direction,” he said.
Mr Kahlbetzer said there were mixed emotions selling the properties particularly Jemalong Station that had been in his family since 1979.
“It’s been nearly 40 years… as a family we spent a lot of time there so it’s been a difficult decision, but one that’s been part of a long-term plan,” he said.
“I spent a lot of time there in the mid to late teens, especially on the weekends.
”It's part of a downsize as we have kids at school in Sydney and weekend sport takes up a lot of time and we have places closer to Sydney.”
He said when they purchased “Merrowie” it was at a time when cotton started moving to southern NSW.
“People did some crops before us, but we pioneered bringing cotton south,” he said.
Jemalong Station is located about 35 kilometre west of Forbes. It is comprised of 13,387 hectares with 2384ha of irrigation development and includes 8885ML Jemalong irrigation licence (JIL), and 3107ML groundwater. Adjoining Jemalong Station is “Jemalong Citrus” with the area of 360.84ha. It has access to 1000ML groundwater and 750ML JIL water. The property comprises about 170,000 orange trees with principally winter juicing varieties.
The other property being offered is “Merrowie”, which is situated 15km west of town of Hillston. It is about 32,730ha with 9906ha of developed irrigation and has available approximately 6689ML of general security Lachlan River Water Entitlements as well as 10,528ML of groundwater licence and around 16,000ML above ground water storage. The sale is being handled by Gary Johnston of Johnston Rural Group Forbes and Bruce Gunning of Ray White Rural International Sydney. Expression of interest closes on March 12, 2018.