Qatari agribusiness Hassad is continuing to downsize its extensive farm portfolio and is selling off two of its SA properties.
The properties consist of cropping aggregations at Cummins/Ungara on the Eyre Peninsula and the Glendale aggregation at Clare totalling 10,369 hectares.
The Cummins/ Ungara aggregation is 7,106 hectares and spread across 11 dryland cropping farms and the Glendale aggregation is comprised of 12 semi-contiguous landholdings amounting to 3,263 hectares.
Hassad Australia chief executive John McKillop said that new leadership sees the sales as preparation for the “next phase” of the company’s investment strategy, rather than as an indication of pulling out of Australia.
“The new leadership plans to redirect the business away from pure primary production to a strategic blend of both farming and investments across the sheepmeat and grain supply chains,” he said in a statement.
“In no way does this change in strategy to represent any sort of withdrawal or downscale of Hassad’s investment in, or commitment to, the Australian agricultural sector which, as we know, is one of the most sought-after in the world.”
The sales of the Cummins/Ungara and Glendale aggregations will be handled by Elders and CBRE respectively.
Elders Real Estate general manager Tom Russo told News Corp that the Cummins/Ungarra aggregation is expected to receive significant interest from domestic and foreign corporate buyers and local operations looking to expand their operations.
According to Grain Central, the Eyre Peninsula is a renowned grain growing region which accounts for between 30 and 40 percent of SA’s wheat production annually.
CBRE’s Phil Schell told News Corp that the Glendale aggregation represents an excellent opportunity to enter one of the state’s most tightly held cropping regions and will attract strong interest.
In addition to the SA properties, Hassad is also selling a central New South Wales asset in Raby.