June 29, 2011


Sustainable Agricultural Fund purchases dairies



The Sustainable Agricultural Fund has purchased two northern Tasmanian dairies valued at more than AUD10 million (US$10.5 million).


The deals incorporate 485 hectares of high quality land at Parkham, near Devonport, The Australian Financial Review reported.


Sustainable Agricultural Fund chairman Arthur Apted said the acquisitions increased the fund's commitment to Tasmania, which already included a 13,000-head beef operation on King Island.


The fund has now outlaid more than AUD$110 million (US$115.8 million) on Australian farmland in its first year of operation.


The fund, headed by managing director Frank Delahunty with a AUD145 million (US$152.7 million) mandate, has already bought 4000 hectares of cropping land in Victoria's western district and Mallee and 11,200 hectares of irrigated and dryland cropping land near Moree and Darlington Point in the NSW Riverina.

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