Cream of the crop - Iconic property tipped to fetch close to $200m

A LOCAL farm with a potential price tag of up to $200 million appears certain to attract interest from foreign investors after hitting the market last week.

The 50,000ha parcel, located about 50km southwest of Moree at Bellata, is considered one of eastern Australia’s most prized dry land agricultural assets.

Owners Ron Greentree and Ken Harris bought the Boolcarrol and Milton Downs plots from the Twynam Pastoral Company for an estimated $75 million in 2008.

They have since invested heavily, including building a 105,000-tonne capacity grain handling facility, to transform it into a state-of-the-art farming operation.

The decision to sell comes as Mr Greentree and Mr Harris unwind their shared interests after a long partnership and set their sights on succession planning.

Farmland sold recently in the Moree area has yielded prices of more than $4000 per hectare, indicating the property could fetch close to $200 million.

Cashed-up investors in Asia or North America are expected to look very closely at buying the entire operation. An estimated

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