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Agribusiness Case Study: Warroo Orchard

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The Challenge

‘Warroo Orchard’ is a 185.5 hectare* property in Southeast Queensland, and brand called “The Good Rich Fruit Company”. The vendor had been instrumental in cultivating and expanding the Queen Garnet Plum, an extraordinary fruit that has captured the hearts and taste buds across Australia. Recognising the importance of finding the right successor, the vendor appointed Colliers Agribusiness, an established name in the world of horticultural and rural property transactions.  The vendor knew that the unique location and the challenges it presented required a strategic approach to ensure a successful sale with a national firm with expansive reach. 

With the orchard land area on separate title and located within the bounds of the much larger Warroo Station it was identified early the need to establish clear ownership and access. One major activity involved creating easements to the critical irrigation water supply. To mitigate any potential environmental or legal concerns, the vendors worked closely with the agency team to provide full disclosure and realign title boundaries to eliminate risk. 

Additionally, since this was the first time an orchard of this type had come to market, no one could predict how the industry would respond to this extraordinary offering.  

 

 

The Strategy

Colliers Agribusiness devised a meticulous marketing strategy, tailored specifically to target investors well-versed in the horticultural fruit and tree crop market. The other strategy was to work with the vendor to identify potential upside for the purchasers through identifying expansion opportunities from the initial agreed area, and to provide the buyer with suitable land to expand on. 

In June 2022 the property first went to market through an expression of interest (EOI) process. The contract was exchanged in January with settlement in May 2023.  Due to the unique status and production of ‘Warroo Orchard’ along with sale being initially offered as Walk-In, Walk-Out (WIWO), due diligence processes were extended to allow all prospective interests to conduct substantial inspections and complete appropriate process. 

The Results

The property was bought by Gunn Agri, who recognised the immense potential of the land, water resources, Queen Garnet Plum orchard, and the fixed infrastructure. In a wise move, the buyer agreed to lease the property back to the vendor for seven years, allowing both parties to reap the benefits of the flourishing Queen Garnet Plum market and the work by the vendors in reaching higher production levels. 

Reflecting on the journey, the vendors expressed their gratitude for the collaboration with Colliers. 

“Colliers were crucial to ensuring we were able to gain maximum value in the sale of our family business. By guiding us to establish the ideal offering, connecting us to the right people, supporting our negotiations, and providing top quality marketing, Colliers were instrumental in providing a successful outcome for us”.
Bim Goodrich

Vendor: Bim Goodrich & The Good Rich Fruit Company Pty Ltd
Purchaser: Wollemi Farms Pty Ltd (Investment platform managed by Gunn Agri Partners) Dutch based Kempen
Price to remain undisclosed.


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Rawdon Briggs

Head of Agribusiness, Transaction Services | Agribusiness

Brisbane

Rawdon is a direct and to the point communicator that focuses on client’s long-term Agribusiness outcomes and objectives. Rawdon is a 5th generation rural landowner in Central QLD, well known as an Agribusiness trusted advisor who completes multiple discipline transactions. A regarded negotiator that is versatile, adaptive and outcome driven.
Rawdon is a focused specialist within Beef, Cotton, Carbon Farming, Horticulture & Grain commodity assets within agricultural that are either corporate farmers and traditional farming family owners or operators.
Colliers has enabled Rawdon to partner with some of Colliers finest people & platforms to ensure the clients brief is delivered from preparation, negotiation right up to settlement for any asset Sale, Lease or structured Joint Venture or part divestment desired.
Rawdon is a fully licensed Estate Agent in following states of Australia,  Northern Territory, Queensland, Western Australia & Stock & Station LIC for New South Wales.

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Phillip Kelly

Manager, Transaction Services | Agribusiness

Brisbane

Phillip has extensive farm and agribusiness management, sales and marketing background with expansive exposure to variable agribusiness production types and geographic regions. Phillip has a deep understanding of modern agribusiness practices, requirements, demands and restrictions coupled with high level business and finance management skills. With over 40 years in sales and marketing roles Phillip has developed extensive customer development and employee engagement experience. Phillip is considered a high level communicator and relationship builder with high level written and verbal communication skills. Phillip is confident in the board room and in the paddock.

  • 40 years experience across the agribusiness sector including production, marketing and finance.
  • Commenced with Colliers Agribusiness in February 2020.
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  • Living on the Darling Downs (QLD) with extensive knowledge of and exposure to the rural property market, livestock and grains industry across Eastern Australia.
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