<a href="https://www.apartments.com.au/developers/toga-group">TOGA</a> has opened sales for the final building in Macquarie Rise, its latest mixed-use development in Macquarie Park.

Since launching its <a href="https://www.apartments.com.au/new-apartments/macquarie-rise-122-herring-road-macquarie-park-nsw-2113">Macquarie Rise</a> in late 2023, TOGA has secured over 125 sales in the Herring Road development, to a range of purchasers, from first home buyers to investors and downsizers. Around 65 per cent of purchasers have been owner-occupiers.

TOGA has now launched a new release of one-, two-, and three-bedroom apartments in the final building, Saunders Rise. Many of the apartments feature multi-purpose rooms and offer views of the surrounding greenery. Also part of the release is a series of&nbsp;sub penthouses housed on the upper floors.

[smartcode_project:default project_id=89243 project_image_fid=242696]

&nbsp;

“We’re delighted with the ongoing strong interest in our Macquarie Rise development, which is testament to the need for premium housing in this much-loved Sydney suburb,"&nbsp;Allan Vidor AM, Managing Director at TOGA, said.

"We’re proud to be able to offer buyers a unique product that includes luxury amenities, spacious living areas and flexible layouts, designed to suit all kinds of buyers, from young professionals to families and investors.

“We have long been advocates of Macquarie Park, and once Macquarie Rise is complete, TOGA will have built 1,000 apartments in the area, delivering much needed homes within a thriving precinct. It’s great to see the area become renowned for high-quality apartments, proximity to amenities and green spaces."

TOGA, one of Australia’s few Gold Star iCIRT rated developers, is also handling construction of Macquarie Rise. They are on track to complete the building in 2027.

[smartcode_project:default project_id=89243 project_image_fid=310789]

Macquarie Rise boasts a prime location, placing residents within immediate reach of Macquarie Centre, Macquarie University, and the newly completed Macquarie University Metro, connecting to the Sydney CBD is just over 20 minutes.

&nbsp;

Macquarie Rise residents also have access to Club Rise, an exclusive, residents only lounge designed by luxury hotel designers Stack Studio, offering an abundance of work and break-out areas, a Pilates studio, a gym, and a karaoke room. As well as these premium amenities Macquarie Rise will also feature an impressive podium top 20m lap pool.

[smartcode_project:default project_id=89243 project_image_fid=242695]

“Offering luxury, spacious apartments in a vibrant and well-connected neighbourhood, it’s no surprise that Macquarie Rise remains popular with a range of buyers," said TOGA's General Manager of Sales, Anthony Falas.&nbsp;

"With interest rates tracking downwards, we expect the final apartments to continue to receive high levels of interest.”

Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of over $400 million.

&nbsp;

[smartcode_project_cta:default project_id=89243]

Joel Robinson

TOGA launches final stage apartments in Macquarie Rise

Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-storey project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm site.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

[smartcode_project:default project_id=509 project_image_fid=335425]

Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

[smartcode_project:default project_id=509 project_image_fid=335414]

The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

[smartcode_project:default project_id=509 project_image_fid=335415]

This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Now selling from $640,000 to $3.95 million, with off-the-plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

[smartcode_project_cta:default project_id=509]

640 Bourke Street: A heritage address at the heart of Melbourne

Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

[smartcode_project:default project_id=114189 project_image_fid=272840]

“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

[smartcode_project:default project_id=114189 project_image_fid=272865]

The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

[smartcode_project_cta:default project_id=114189]

Abadeen tops out Northcote Collective in Naremburn

Sunshine Coast-based <a href="https://www.apartments.com.au/developers/devcon-property-group">Devcon Property Group</a> has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.

&nbsp;

The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.

Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.&nbsp;

“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside &nbsp;communities, offers for a broad range of development outcomes,” Kain said.

“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an &nbsp;outstanding development prospect. Our plans are to refurbish the existing building and then review &nbsp;development options for the remainder of the site.”&nbsp;

<img alt="Aerodrome Rd site overlooking Beach (Large)" data-entity-type="file" data-entity-uuid="a29dc4ed-68c1-4bec-a4fc-283063dcde1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerodrome%20Rd%20site%20overlooking%20Beach%20%28Large%29.jpg?VersionId=b0WxJWevmLoAfCP4YvGImZpR3rSCJJ9L" />

Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the &nbsp;Sunshine Coast’s development site market, particularly for projects capable of achieving water views. &nbsp;

“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said. &nbsp;

“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.&nbsp;

“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic &nbsp;beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located &nbsp;mixed-use sites across the Sunshine Coast.”&nbsp;

Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the &nbsp;Sunshine Coast’s status as one of Australia’s most active development markets.&nbsp;

“The combination of strong population growth, lifestyle appeal, and infrastructure investment is &nbsp;driving demand for quality development opportunities,” Nick Dowling said. &nbsp;

“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, &nbsp;reflecting the strength of the region’s construction pipeline.&nbsp;

“Opportunities like this are rare and continue to generate strong buyer interest in the region.”&nbsp;

The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.

Devcon buys Sunshine Coast’s former Sizzler site for new apartment development

Sydney House, the residential redevelopment of the landmark City Tattersall building on Pitt Street in the Sydney CBD, will officially launch to the market this month.

The $800 million development, a joint venture between&nbsp;Singapore-listed <a href="https://www.apartments.com.au/developers/first-sponsor">First Sponsor</a>&nbsp;and leading Melbourne-based developer&nbsp;<a href="https://www.apartments.com.au/developers/icd-property">ICD Property</a>, will see a glass tower with 241 apartments and a 135-room hotel built above the restored heritage-listed podium.

[smartcode_project:default project_id=12428 project_image_fid=312145]

The apartments will offer&nbsp;rare northeast-facing views across the sparkling Sydney Harbour and Hyde Park, all positioned above a luxury hotel with exclusive access to premium amenities and five-star lifestyle services.

Internationally acclaimed architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/bvn-architecture">BVN Architecture</a>&nbsp;handled the design for the residential component and the interiors for the hotel, while&nbsp;<a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>&nbsp;focused on the heritage podium.

[smartcode_project:default project_id=12428 project_image_fid=6670]

First Sponsor’s CEO, Neo Teck Pheng, together with ICD Property’s CEO, Matthew Khoo commented that the joint venture team was ecstatic to bring this extraordinary project to market as the first opportunity for those looking to secure their ultimate CBD luxury residence elevated by premium hotel amenities, including select premium services designed for effortless living.

“<a href="https://www.apartments.com.au/new-apartments/sydney-house-194-204-pitt-street-sydney-nsw-2000">Sydney House</a> will offer a sophisticated expression of modern CBD living, capturing panoramic vistas to Sydney’s most beloved icons, including the Sydney Harbour Bridge as well as Hyde Park out to the North and South Heads,” Khoo said.&nbsp;

&nbsp;

[smartcode_project:default project_id=12428 project_image_fid=312146]

Mr Neo expressed that the reinterpretation of the heritage podium levels will feature an elegant heritage bar and restaurant, along with luxurious hotel and function facilities, enhancing the experience for residents. The historical features will be reborn, ensuring that these grand, opulent spaces will once again be enjoyed, appreciated and celebrated by residents, Sydneysiders as well as interstate and international visitors alike.

Managing sales for the project, SRM Residential Partner Tim Rees said that the team has received an overwhelming response to date, largely from local downsizers and upgraders looking for the ultimate lifestyle purchase.&nbsp;

“Once completed in late 2027, Sydney House will be Sydney CBD’s newest icon blending modern architecture with historic grandeur located in one of the most prestigious enclaves of the CBD,” Rees said.&nbsp;

“Pitt Street is arguably the most significant street in all of Sydney. Just a stone’s throw from Circular Quay, Sydney Opera House, Hyde Park and Darling Harbour, Sydney House offers seamless connection with the CBD and beyond. Pitt Street Mall is literally across the road and there is an abundance of dining and cultural venues in close proximity. The outlook from Sydney House will be breathtaking with views of Hyde Park and Sydney’s famous iconic landmarks on offer.

“Following the trend of other global cities such as New York, London, Paris and Tokyo, luxury inner city apartment living with access to premium hotel amenities is the new ‘trophy home’ for wealthy downsizers or empty-nesters who aren’t looking to slow down, as they want to live in the heart of the action.”

[smartcode_project:default project_id=12428 project_image_fid=350624]

The project boasts a prime CBD location surrounded by the city’s most premium shopping centres including David Jones and Westfield Pitt Street as well as some of Sydney's best restaurants, bars,&nbsp;pubs, theatres, museums, art galleries, and parks.

Residents will be able to access the newly opened Sydney Metro Gadigal Station, located within a block from Sydney House. This station provides connectivity to Martin Place (one min), Barangaroo (three mins) and North Sydney (11 mins) as well as Chatswood and Macquarie University through to Castle Hill and Norwest. With services every four minutes during peak times, the Sydney Metro provides the ultimate convenience with 21 stations from Tallawong to Sydenham.

One of Sydney’s leading residential construction companies, particularly in premium off the plan luxury residences, Richard Crookes Constructions, will complete the project in late 2027.&nbsp;

Price guides at Sydney House include one-bedroom apartments from $1.5 million, two-bedroom apartments from $2.3 million and three-bedroom apartments from $5 million.

[smartcode_project_cta:default project_id=12428]

Set to bring next level luxury to Sydney CBD’s prestige property market

Buyers set for first chance at Sydney House, Sydney CBD's newest landmark tower development

Rural Listings

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MH Premium Farms has sold the Glaisnock mixed-farming enterprise.
<div class="cq-article-content-paras section">
The billionaire hedge fund manager Sir Michael Hintze sold Glaisnock to a local family farming group at auction.
Glaisnock currently grows wheat and canola in rotation and also supports sheep, cattle and fodder enterprises.
</div>
<div class="cq-article-content-media section">Selling agents said the land rate of $8933 per hectare achieved for Glaisnock was a district record, beating the district record by close to $350 per hectare.</div>
<div class="cq-article-content-paras section">
Glaisnock had previously been owned by David and Lynette Whitechurch.
Sir Michael, the director of his own hedge fund, CQS Management, paid about $3.5 million for Glaisnock in 2008.
Three parties competed for Glaisnock at its auction earlier this month.
It includes an extensive reticulated water system for livestock, spraying and domestic purposes as well as a homestead and cottage.
</div>
Located 26 kilometres from Young, it is in an area described as "blue-ribbon mixed-farming land".
Of the total landholding, 947 hectare (96%) is arable, while the remaining area is comprised of 20 hectares of grazing land and 16 hectares of support land.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/24/Farma.jpg" alt="">
 
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Billionaire Sir Michael Hintze sells blue-ribbon Glaisnock farm for $8.8 million

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MH Premium Farms has listed the Glaisnock mixed-farming enterprise, with the property to go under the hammer next month.
The offering is a 982 hectare landholding within the south-west slopes region of New South Wales.
Located 26 kilometres from Young and in proximity to Cootamundra, Temora and Harden, it is in an area described as "blue-ribbon mixed-farming land".
MH Premium Farms, owned by Sir Michael Hintze, current production model focuses on wheat and canola in rotation, while legume pastures support sheep, cattle and fodder enterprises.
Of the total landholding, 947 hectare (96%) is arable, while the remaining area is comprised of 20 hectares of grazing land and 16 hectares of support land.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/24/Farma.jpg" alt="">
CBRE’s Col Medway, Richie Inglis and Ian Robertson have been appointed to negotiate the sale of property, which is situated at 125 Glaisnock Road, Berthong.
Medway noted the property’s location, fertile soil characteristics and existing infrastructure meant it was well suited to a range of cropping enterprises and pastural improvements. 
MH Premium Farms’ Chief Executive Officer, Ed Dunn, said MHPF have owned Glaisnock for 10 years.
"It has been a great contributor to our portfolio," Dunn said.
"Our long-term manager of Glaisnock will be moving closer to Wagga to take up a senior role in our organisation.
"This has initiated the sale of the property with the funds to be reinvested in other opportunities."
Glaisnock is being offered for November 15 auction.
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Billionaire Sir Michael Hintze lists blue-ribbon Glaisnock farm

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In Mildura there have been few recent substantial sales to report on, however there are a number of large properties currently being marketed according to the latest report from Herron Todd White (HTW).
The valuation firm stated that the result of these will have to be closely watched to see the mood of buyers and whether any of the recent Federal government changes affecting foreign buyers have had any effect.
The Adveq Almond portfolio, which comprises 12,000 hectares of almond trees, originally developed by Timbercorp under a Managed Investment Scheme structure between 2001 and 2007, is being offered for sale.
"The scale of this portfolio is impressive and we expect that a number of institutional buyers will show interest," stated the report.
The agent’s comments suggest the current owners are hopeful of achieving a sale price above $300 million.
A second 'property of note' is a 1,200 hectare horticultural greenfield site at Trentham Cliffs, just to the east of Mildura.
The report noted that, this land is well suited to a variety of tree crops and is expected to receive strong interest, given the shrinking supply of available development land.
The substantial increase in rural values throughout north western Victoria over the past two to three years has seen unwelcome repercussions on council rating valuations, with many farmers reporting their local government rates have increased by up to 40% in recent years.
The fact that farm land values have appreciated to a much higher degree than all other property types is, however, hard to dispute.
The report concluded that farming lobby groups are currently working hard to change the mechanism for how rates are set.
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Supply aplenty in Mildura's rural market: HTW

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Archerfield Farm, the Hawkesbury River enterprise of entrepreneur CM Murphy, renowned for taking INXS from a Sydney pub band to the international stage, has an official $5 million asking price.
The marketing is now being conducted by the family.
Murphy bought the <a href="https://www.realestate.com.au/property-other-nsw-richmond+lowlands-7950970" target="_blank">Richmond Lowlands farm</a>, which dates to the 1820s, about 13 years ago. It is currently set up under Murphy's guidance as a polo horse breeding venture.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/27/Arch2.jpg">
He recently acquired Joe Curran's broodmares including the stallion, Hermitage, adding to Chris’s branded bloodlines.
Some of Murphy's current crop are playing under Australia’s best polo players.
Set over 16 hectares, the Edwards Road property comes with a charming four-bedroom, 1930s three-bedroom home with wraparound balcony.
There’s also a four-bedroom Queenslander, plus horse barn with six stables and 12 fenced horse paddocks.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/27/Arch3.jpg">
The grounds, with a 9 metre saltwater pool and cabana, come with a citrus orchard, fruit trees and an established rose garden.
Murphy, who grew up in Shellhabour, ran his late father’s theatrical booking agency with his mother in Wollongong before shifting his focus to rock music acts which included AC/DC, Marcia Hines, Cold Chisel, Skyhooks, Old 55 and The Angels.
Murphy, who first managed INXS from 1979 to 1995 and then returned in 2009, will retain his Ballina stud holding, Sugar Beach Station.
This article first appeared in The Weekend Australian. 
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INXS band manager slaps asking price on Archerfield Farm

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One of Australia’s largest irrigation properties, Gundaline Station – located in the highly regarded Southern Riverina region of NSW – has been listed for sale.
Fronting the Murrumbidgee River in NSW, the 15,000 hectare rural property suited to growing a combination of irrigated cotton, cereals/oilseeds/legumes and permanent crops such as almonds was last sold in 2014 to an institutional investor consortium led by Southern Agricultural Resources.
Over the past three years, they have more than doubled the land area under irrigation, significantly expanded and improved the water storages and irrigation infrastructure, as well as upgrading the existing irrigation land. 
The property consists of more than 6,000 hectares of highly developed furrow irrigation (over 3,500 hectares of new development), with the balance comprising land suitable for development to permanent plantings and additional furrow irrigation, and grazing land. 
The holding benefits from significant water entitlements.
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Significant irrigation property Gundaline Station hits the market

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An irrigation and mixed use farm in South Australia's south east has gone on the market featuring one of the largest single underground water entitlements for irrigation.
Cooma Park, 175 south east of Adelaide at Coonalpyn, has an entitlement to over 6,000 mega litres of underground water for irrigation and existing olive, wine grape or pine nut trees.
The property has a usable 1,900ha of which 420ha is developed to olives, wine grapes and pine nuts and a further 1,300ha is available to be developed with approximately half already containing irrigation bores. It also features a main homestead, two management dwellings, staff quarters, office, implement/storage shedding and workshop as swell as irrigation sheds.
Colliers International’s Tim Altschwager said the undeveloped land is currently used for grazing, with pastures primarily comprising veldt, primrose and ryegrass which thrive in the Upper South East climate and soil types.
“Due to the underground water reserves throughout the various basins in the region, irrigation is also a major focus and is utilised for fodder, large scale potato and onion production in addition to a number of olive growers,” he said. 
The property is for sale by expressions of interest, closing Wednesday 22 June at 4pm.
 
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Mixed use farm with irrigation entitlement listed

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Crowd funding firm DomaCom has welcomed the announcement by Treasurer Scott Morrison that the proposed sale of the Kidman Station to a Chinese consortium is “not in the national interest”.
The Kidman Station comprises 16 pastoral properties including outstations and supporting properties in breeding, feedlot and cropping. It is spread across Queensland, the Northern Territory, South Australia and Western Australia and is home to 185,000 cattle.
The Kidman land portfolio is the largest private land holding in Australia, with 1.3 per cent of Australia's total land area.
“Given the size and significance of the Kidman portfolio I am concerned that the acquisition of an 80 per cent interest in S. Kidman &amp; Co Limited by Dakang Australia Holdings Pty Ltd (Dakang) may be contrary to the national interest,” Morrison said last week in a media release.
DomaCom CEO Arthur Naoumidis said it was “pleasing” that the government had heeded public sentiment on the $370 million sale and had reached a “preliminary finding” to reject the bid by Dakang Australia Holdings. The company has until 3 May to respond.
Morrison had earlier rejected a bid by a related Chinese company, the Penxing Group.
Late last year, DomaCom launched a book-build to keep Kidman Station in Australian hands and has attracted pledges of more than $70 million from 5,000 retail investors.
“What the DomaCom campaign clearly demonstrated is that there is genuine public interest in keeping the iconic Kidman pastoral station in Australian hands, and that ‘mum and dad’ investors want to have a stake in this country’s agricultural heritage,” he said.
“Opinion polls have shown that ordinary Australians are deeply concerned about retaining our agricultural land, as well as the businesses that flow from them.”
Naoumidis says Morrison’s announcement could breathe fresh life into the DomaCom offer.
“Hopefully it will encourage more retail investors to come forward to invest in Kidman. Aside from the issue of keeping it in Australian hands, the investment reality is that under our proposal the land will be separated from the operating business, with the land expected to return about 8-9% to our investors.”
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