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Chinese company Shenhua to sell huge stake in northern New South Wales food bowl

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Chinese company Shenhua to sell huge stake in northern New South Wales food bowl

A huge portfolio of land in northern New South Wales owned by a Chinese company is up for sale.

Key points:

  • Better than 16,000 hectares of land owned by Shenhua Watermark Coal is obtainable
  • There would possibly be expected to be solid interest from corporates
  • Local farmers hope they could well well also rep some of the land

Better than 16,000 hectares of land supplied by Shenhua Watermark Coal is obtainable, because the mining giants cuts ties with the area and its failed notion to mine for coal on the fertile Liverpool Plains.

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Earlier this year the impart authorities paid the company $100 million to withdraw its rent software program for the beginning decrease mine at Breeza come Gunnedah.

The company had obtained land at Breeza, Barraba and Tambar Springs.

The 16,570 hectares will race below the hammer with an estimated total price of bigger than $120 million.

David Goodfellow, the managing director of the company looking after the gross sales, CBRE Agribusiness, mentioned there had already been solid interest in the land.

“Or no longer it has been pretty solid, obviously of us were talking about this parcel of land for some time and what its future destiny could well well uncover fancy,” Mr Goodfellow mentioned.

Three aggregations for sale

There are three parcels for attainable traders to grab from, with the aggregation at Breeza tipped to gain the most costly set apart imprint.

That particular parcel is round 35,000 acres — made up of extra than one properties — and is expected to attract bids in the vicinity of $115 million.

Mr Goodfellow mentioned the smaller aggregations at Barraba and Tambar Springs would attract decrease figures.

“It would even be supplied as one lot if someone is interested in taking the total lot or CBRE is committed to working through a job to allow of us to win points of the land.”

Will local farmers mutter?

With a pink scorching property market and the notorious agricultural traits of the Liverpool Plains, interest is expected from both local farmers and company enterprises.

Mr Goodfellow mentioned local farmers would gain a possibility to focus on the different to bewitch land.

“We’re going to trip a town hall meeting in Gunnedah to merely bring the locals together to explain the what the job is so each person appears to be like to be accustomed to how they’ll most interesting win half,” he mentioned.

Susan Lyle is a retired Liverpool Plains farmer and the chair of the Caroona Coal Action Community, which fought Shenhua’s proposed mine for bigger than a decade.

She hoped local farmers would gain the different to bewitch the land.

“It is a sexy decision and I think it provides the local farmers now an different to grab relief a few of this land,” Ms Lyle mentioned.

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Chinese company Shenhua to sell huge stake in northern New South Wales food bowl