Gilbert + Tobin has acted for Twynam Agricultural Group on the sale of three of the company's farms and associated water rights. The Mungadal and Cooinbil farms in the Riverina district and Buttabone north of Warren on the Macquarie River have been sold to a Macquarie Pastoral controlled agribusiness fund, the Paraway Pastoral Fund. The sale price was not disclosed.
G + T real estate and projects partner Amanda Hempel led the transaction, which was assisted by senior lawyer Kate Bloxsom.
Thomson Lawyers acted for Paraway.
The sale of the three properties comes at a time when there is a renewed sense of optimism with regard to large rural properties, following sluggish sales numbers since the GFC.
The total size of the three properties is around 177,000 hectares.
"In a recently subdued market for rural property, this result proves there is still buoyancy for quality rural real estate assets."