Bucca, a 123.83ha farm in the Bundaberg region, was purchased by an Asian based buyer for $2 million with future plans to convert the property from sugarcane to macadamia production.
Trenton Hindman, Senior Executive of Rural & Agribusiness at Colliers International marketed the property via private treaty on behalf of Bucca Investments Pty Ltd who have owned it since 2007. This has been a strategic land and water banking asset for their turf enterprise located at Canungra, south east Queensland.
“This sale showcases a perfect mix of foreign capital investment, Australian horticultural expertise and management, and ultimately the export of the popular macadamia nut,” said Mr Hindman.
“Buyers were attracted to the property’s close proximity and access to Bundaberg, multiple freehold titles, infrastructure, climate, and soil and water quality.
“There is an interesting trend currently occurring in the Bundaberg region where we are seeing a change of land use from sugarcane to tree crops.”
A Bundaberg farm management company is set to implement the tree crop establishment and ongoing operation. Scott Allcott, Director of Macadamia Farm Management said industry participants are pushing hard to achieve production in a shorter time frame from tree crops to cash in on booming world prices.
Located at 123 Mahoneys Road in Bucca, this freehold irrigation property consists of five titles. The land comprises 123.83ha of irrigated grey loam river flats, of which 92.5 per cent is planted to sugar cane.
The balance of the land is improved with a three bedroom, one bathroom dwelling with carport, packing shed, machinery shed and an additional shed. Water entitlements include 530.6ml of water allocation.