Blue Sky opts not to complete purchase of Lochiel Station

Blue Sky opts not to complete purchase of Lochiel Station
Blue Sky opts not to complete purchase of Lochiel Station

The funds management company Blue Sky Alternative Investments has decided not to complete the purchase of a large-scale farm on the Queensland-NSW border, according to the Australian Financial Review.

Blue Sky held an option for the 1666-hectare Lochiel station on the Dumaresq River between Texas and Goondiwindi.

It was for $8.7 million, but Blue Sky has informed the owner it is unable to complete the deal.

The Lochiel deal included a host of water rights as well 697 megalitres of river water entitlements, 836 megalitres of bore water and 252 megalitres of overland flow.

The Lochiel property has been producing irrigated crops which are used for feed at the nearby Whyalla Feedlot, owned by Japan's Nippon Meat.

Blue Sky was also looking to buy the neighbouring farm Tarwoona.

Tags: 
Investment Farm Land

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