The rural division of Thomas Foods International has added the 2762-hectare Cooma Park at Coonalpyn to its property portfolio, with the Upper South East property about 100 kilometres from the company's planned meat processing facility at Murray Bridge.
Improvements on the property include the main homestead, three staff residences, staff quarters, office, multiple machinery sheds, workshop and irrigation sheds throughout the developed areas.
Colliers International agribusiness transactions national director Tim Altschwager said Cooma Park offered a significant secure underground water entitlement and an expansive versatile land holding with the potential for a range of agricultural activities.
"The property has significant agricultural development options including horticulture, fodder, grain, small seeds and livestock production.
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"Existing supporting infrastructure consisted well over 400ha serviced by irrigation mainlines and bores, with an additional 1400ha of undeveloped grazing land interspersed with bores ready to be equipped when required."
Colliers International agribusiness transactions director said it was fantastic to see a significant local agribusiness such as TFI continue to expand its operations in the region.
"TFI recognised the opportunity not only for the expansive land area and water entitlements but also the extensive accommodation on the property," Mr Manuel said.
Limestone Coast land use to evolve
Mr Manuel and Mr Altschwager believe Limestone Coast is on the verge of a farming evolution, anticipating a significant change of land use in the next decade in the areas with large volumes of quality underground water.
"You only have to look at what has occurred along the River Murray system, where properties that have traditionally been used for dryland cereal cropping with some areas of potato and onion production, being acquired for conversion to higher value crops such as almonds," said Mr Manuel.
"Large agribusiness investors and operators are looking for the next region to convert traditional farming land to higher-value horticultural enterprises."
Mr Altschwager said permanent River Murray water entitlements nearly tripling in value in the past 12 months had encouraged buyers to investigate opportunities comprising undergound water recources.
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