really love the last sentence, good for AAC ---Rural land prices...

really love the last sentence, good for AAC
---Rural land prices have been on the rise around Australia and this deal will give the market further impetus.

Qatar's sovereign wealth fund sells another Australian farm

Hassad, the farming company backed by the Qatar Investment Authority, has sold more farming land as it moves its strategy from food security to better investment returns.
One of Australia's best performing but media-shy farmers Bill Zell has snapped up Hassad's Clover Downs station in the Cunnamulla district for about $27 million.
The 125,293 hectare farm was held in Hassad's portfolio for about 7 years after the Middle Eastern group purchased the property from Clyde Agriculture for $18.5 million.

Hassad Australia managing director John McKillop confirmed the sale and the change of direction at Hassad.

"We are pleased with the sale. We are pleased it is going to good operators," Mr McKillop said.
"We believe the property is no longer strategic to the company."
In January Hassad sold the first property it purchased in Australia - the 2632-hectare Kaladbro Station in Victoria - to Tom and Pat Brinkworth, the wealthy farmers who were part of the syndicate of underbidders in the battle to buy Australia's largest landholder S.Kidman & Co.
It has been looking to sell more of its 13-strong rural property portfolio across five states that it had acquired since 2010 to provide food production for the tiny Middle Eastern nation.

"We are no longer looking for food security but overall returns for investors," Mr McKillop said.
"And going forward we will focus our attention on downstream operations such as marketing and processing."
The $469 million agricultural land company owned directly by the Qatar sovereign wealth fund delivered a $3.46 million loss last year and is yet to make a profit since beginning in Australia in 2010. However its operating company (separate to the $469 million property company), has shown profitability.
Clover Downs was sold through Colliers International's Rawdon Briggs, Ben Forrest and Trinton Hindman with assistance from Landmark Harcourt's Phil Rourke.

The property has undergone significant changes and improvements under Hassad ownership.

Mr Zell was unavailable for comment on his purchase. He is not averse to big trophy farm buys. In 2012 Mr Zell snapped up the Kahlbetzer family's Twynam Group holding – the 35,600ha "Collymongle" at Collarenebri in northern NSW – for more than $40 million.
Rural land prices have been on the rise around Australia and this deal will give the market further impetus.