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Case Study Valuations & Advisory: Growth Farms

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Challenge

To deliver multi-jurisdictional valuation requirements whilst navigating COVID-19 related travel restrictions. Time constraints were also challenging, however, the team was focused on delivering accurate and in-depth information within the specified timeframe.

Strategy

To overcome the restrictions imposed by COVID-19, our experts delivered a high level desktop based assessment and market study. The team also conducted a combination of financial reporting and bank reliant valuations on existing properties within Growth Farm’s national portfolio. The task involved a mix of existing assets and assets under acquisition consideration, with over-arching strict timelines and commercial sensitivities.

Services

The advisory work undertaken was varied and incorporated an element of revaluation work and the analysis of complex assets involving water licenses and leases to existing operators within a fast moving market.

The team’s geographic spread and local market knowledge meant that we could deliver informed and timely advice.

As part of our valuation services, we were required to deal in person with multiple parties assisting in the facilitation of sensitive and orderly contract negotiations.

Results

We delivered our valuation services within the allocated time period as specified by Growth Farms. Growth Farms successfully purchased the assets they were looking to acquire as a result.

Testimonial

“The Colliers Agribusiness Valuation & Advisory team were recently appointed to value a number of rural properties for us. The team’s experience, insights, rigour, open and honest communication and expertise across multiple markets and jurisdictions gave us full confidence throughout the process. We endorse the team as a trusted advisor able to deliver timely and quality work.”

David Sackett
Director & Senior Portfolio Manager
Institutional Investors
Growth Farms


Related Experts

John Harrison

Head of Agribusiness | Valuations & Advisory Services

Adelaide

John is Head of Agribusiness nationally within Valuation and Advisory Services in Australia. In this role, John leads the experienced and diverse team, and is responsible for the oversight of the specialisation on a national platform. Having grown up on the family property in South Australia's Lameroo district, John has first-hand knowledge and experience of rural property operations. John commenced working with Colliers International in 2012 in Adelaide and moved to Sydney in 2019 to re-establish and grow the New South Wales division.

John has particular experience in the valuation of dryland and irrigated cropping, high rainfall and pastoral grazing, vineyard, forestry, irrigated horticulture (broad hectare potato & onion production and permanent tree crop), dairy and poultry assets.  In addition to these sectors, John also has extensive experience in the valuation of leased agricultural assets.

John has valued some of Australia's largest agricultural landholdings and portfolios, with work undertaken across all states and territories of Australia for a wide range of institutional, corporate, government and private clients.

The valuations he has worked on have been for a number of purposes including Mortgage Security, Financial Reporting, Potential Acquisition/Disposal, Estate Planning/Settlement, Compulsory Acquisition and Insurance purposes.

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Alex Thamm

National Director, Agribusiness SA & WA | Valuation & Advisory Services

Adelaide

Alex and his team specialise in the the provision of valuation and consultancy services to the rural and agribusiness sector on a national and international basis. They have specific skills in the wine, forestry, agriculture, horticulture, fisheries/aquaculture and large scale grazing and cropping sectors. The team also has plant and machinery qualifications, and deal with complex and specialised assets including large multi-jurisdictional portfolios on a regular basis.

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James Beveridge

Associate Director, Agribusiness | Valuation & Advisory Services

Brisbane CBD

Specialist rural consultant, proficient in the valuation and advisory of agribusiness assets including: cotton, vegetable, dryland farming and intensive grazing enterprises, dairies, piggeries and chicken breeding facilities. Specialising in complex asset valuation assessments using production and cashflow data with recent experience in cotton gins, flour and sugar mills, oil seed extraction, large scale irrigation and grain handling facilities.

Prior to becoming a valuer in 2005 James had a practical history as a Jackaroo then working through to stud Overseer specialising in stud stock and wool production, to then go onto to finish a Bachelor of Farm Business Management.

In his professional career, James has comprehensive experience of providing independent agribusiness consultancy advice to property owners, mortgage lenders, insurers, government bodies and private investors and is proficient in a variety of valuation types including: In use, alternative use, as if complete, tax depreciation, stamp duty, retrospective, succession planning and rental determinations using a variety of valuation approaches and methodologies.

James has also been using his experience in consultancy and advisory work. Examples include scenario analysis, added value of new infrastructure, production analysis, design and best management practice.

James is a 6th generational farmer with a strong advantage and point of difference over other valuers in understanding the drivers of value and empathy which is connected to it.

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Sam Douglas

Senior Valuer, Agribusiness | Valuation & Advisory Services

Sydney North

2012+

  • Began employment (December 2012) at Valuer-General Victoria as a Trainee Valuer, rotating through various teams in the office as part of the ‘Trainee Valuer Scheme.’
  • Involvement with the ‘East/West Link’ Project, gaining basic acquisition/compensation experience and exposure as an Assistant Valuer (January 2014). Specifically, field work as part of the ‘Voluntary Purchase Scheme.’
  • Involvement in the Rating Authority- Valuations (RAV) team: exposure to councils, rating and taxation, including valuations, supplementary valuations and the objections process.
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  • Within the Financial Reporting team: major involvement in the review of the Melbourne Metro Fire Brigade’s core and non-core asset portfolio for financial reporting purposes, as well as clients such as the State Emergency Service (SES), Parks Victoria, The Department of Education and The Department of Environment, Land, Water and Planning (DELWP).
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  • Involvement with the market valuation of various suburban and outer-suburban development sites and basic feasibility analysis.
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  • Involvement with the West Gate Tunnel Authority’s negotiated purchases in Yarraville; specifically, residential properties, which will enable exposure to a ‘conference’ scenario with both the ‘check’ and owner’s valuer(s).

 

2019+

  • Commenced with Colliers  as  part of the Victorian Agribusiness team (Valuations).
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