Colliers International to sell 68 land parcels across VIC, SA and WA

Colliers International has been appointed to sell 68 land parcels – approximately 20,657 hectares – across South Australia, Victoria and Western Australia.

Colliers International was appointed by Mirvac Funds Management Limited and ASIF (WA) Pty Ltd.

Timbercorp established the vast portfolio from 1999 to 2002.

Timbercorp was created in 1999 to manage superannuation and investments in agriculture but entered administration in 2009.

The majority of the Victorian and South Australian land is leased to Australian Bluegum Plantations Pty Ltd.

The sale is to be managed by Colliers International director of rural and agribusiness Tim Altschwager and executive for rural and agribusiness Jesse Manual.

Altschwager says ownership in the rural and agribusiness market is now considered a very attractive investment for institutional, private and offshore investment.

“It is well known that a number of institutions and offshore funds are actively seeking opportunities of this size and calibre in Australia so we have no doubt that we will be dealing with genuine interest to acquire the portfolio from these groups.

“The opportunity to acquire such a large holding of prime plantation/farming land is rare.

“We envisage this will appeal to forestry industry participants and all those attracted to the holding’s development potential,” says Altschwager.

The land parcels are being sold as a whole or in parts via EOI closing June 13.