Land three times the size of Hong Kong comes on market

Land three times the size of Hong Kong comes on market
Cassidy KnowltonDecember 8, 2020

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Estancia Punta del Agua, a 400,318-hectare piece of land north west of San Juan, in Argentina, is on the market. The massive piece of agricultural land is in one of Argentina's most prolific wine regions, and it is believed that the Argentinian Government would support a move to bring the entirety of the holding into full agricultural production.

The land, which is being marketed by Savills and joint agents Gateway to South America, is 3.5 times the size of Hong Kong and 1.5 times the size of the US state of Rhode Island. It is being marketed to international investors.

“This is probably the largest ring-fenced freehold block of land to be offered for sale in the open market ever," says Ken Jones, head of international farmland for Savills. 

“Given the current interest in farmland from international investors, we expect the Estancia to appeal to a number of potential purchasers. With soil reports showing vast areas of silt soils, and the potential of tapping into one of the largest aquifers in Argentina, the Estancia needs an investor who understands agriculture and has the capital to invest after the purchase in a scheme of works to bring the land into line with 21st-entury farming techniques."

About 400 people farmed the land of the Estancia using rudimentary irrigation in the mid-20th century, but a lack of infrastructure in the area meant they could not compete with other large landholdings at the time. However, an upgraded rail and road network, combined with a more reliable electricity grid and modern irrigation technology, make it likely that the property can become a viable commercial agricultural business. 

The current owners have had the property since 1983.

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