Australian private markets manager Roc Partners has backed Precision Poultry’s acquisition of five self-contained poultry farms spanning more than 212ha in New South Wales for between A$145m and A$150m (€89-€92m).
The operation, known as VOAG, is one of Australia’s largest farms with more than 245,000sqm of production area and is poised for further expansion.
Duncan McCulloch, national director, transaction services, agribusiness, Colliers, who conducted the sale campaign, said: “VOAG attracted strong interest throughout the campaign, reflecting continued demand for large-scale agricultural assets with proven operating performance, modern infrastructure and secure long-term production.
“Opportunities of this scale are exceptionally uncommon in Australia’s poultry sector. Buyers recognised not only the quality of the existing operation but also the significant barriers to developing an asset of this size in today’s market.”
Jesse Manuel, national director, transaction services, agribusiness, Colliers, said: “Replacement cost has become a defining factor for investors.
“Rising construction costs, longer approval timeframes and increasingly complex regulatory requirements mean assets of this scale are becoming progressively more difficult to replicate.”
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