4 September, 2025
telopea-downs-victoria-s-largest-farm-hits-market-amid-agricultural-boom

Victoria’s largest farming property, Telopea Downs, is back on the market seven years after it was acquired for a record $70 million. Located near Kaniva on the Victorian-South Australian border, this sprawling estate is a collection of 10 properties, one of which extends into South Australia. Encompassing 46,677 hectares, Telopea Downs is situated in the prime wool-growing region of the Wimmera, according to its current owners.

The property was purchased in September 2018 by South Australian woolgrower AJ & PA McBride from Qatar’s Hassad Australia, a sovereign wealth fund. Now, the sixth-generation, family-owned company, known as one of Australia’s largest wool producers, is looking to capitalize on the property’s appreciated value. Industry sources speculate the property could fetch over $100 million on a walk-in, walk-out basis, attracting both domestic and international interest.

Strategic Sale Aligned with Long-Term Goals

Nathan Wessling, CEO of AJ & PA McBride, emphasized that the sale aligns with the company’s long-term investment strategy. “This is not a panic sale at all,” Mr. Wessling stated. “We are happy to wait to sell. We will continue operating business as usual, and while we would love to have a sale quickly, we are in for the long haul if necessary.”

He noted the strength of the Australian agricultural industry, which has seen significant growth over the past decade. “Agricultural properties achieve about 7 percent return per year, dating back to federation,” Wessling explained. “The last few years have been a lot better than that, so we’ve seen some really good gains across all of our properties.”

Rising Farmland Values

The sale of Telopea Downs comes at a time when Australian farmland values have been on a consistent upward trajectory. According to recent data, Australian farmland has experienced 11 consecutive years of growth from 2013 to 2024. Although 2024 saw a record price of $10,231 per hectare, this was only a 6.9 percent increase compared to the period from 2018 to 2022, when the median price growth of Australian farmland more than doubled.

The national median price has tripled over the last decade, rising by 201 percent at a compound annual growth rate of 11.6 percent.

Mr. Wessling highlighted that the intention behind the sale is to leverage the growth and reinvest in new properties. “Telopea Downs has been a really good performer for us. Since acquiring it, we built a 12-stand shearing shed, which will shear 80,000 sheep a year,” he said. “We’re gearing up for the next wave, and the sale gives us a war chest to look for new properties and aids in our succession plans for the next generation of our company.”

Livestock Market Strength

The strength of the livestock market has also positioned Telopea Downs favorably. “There is some opportunity for our South Australian properties to rebuild using some stock,” Wessling mentioned. “We’re moving our Angus stud, currently on Telopea Downs, back to SA, but otherwise, we’ll sell them in the market.”

Despite challenges in the wool market, Wessling assured that the sale was not forced by industry difficulties. AJ & PA McBride continues to shear over 300,000 sheep annually, producing 1.5 million kilograms of wool from its flock.

Looking Ahead

As Telopea Downs enters the market, it represents a significant opportunity for investors looking to tap into Australia’s robust agricultural sector. The property’s potential sale underscores the ongoing interest in high-value agricultural assets and the strategic maneuvers of established players like AJ & PA McBride to adapt and thrive in a dynamic market.

With offers open to both domestic and international parties, the sale of Telopea Downs could set a new benchmark in the agricultural real estate market, reflecting broader trends in farmland valuation and investment strategies.