CORPORATE farmer Lawson Grains has added another chunk of southern New South Wales to its portfolio with the purchase of the Bulgandra Aggregation.

Located 8km south-east of Rand and 62km north-west of Albury, the 3096ha aggregation has reportedly sold for around $44 million.

The aggregation is recognised as a producer of high-yielding cereal, canola, and pulse crops on its 2961ha of arable country, and has also run sheep for wool and prime lamb production.

Purchase of the Bulgandra Aggregation extends Lawson Grains’ presence in southern NSW, which started in 2013 with Borambil, also near Rand, as the cornerstone of an aggregation with an arable area which has grown to 11,219ha.

Just to the west is Lawson Grains’ 10,581ha Grassmere Aggregation, between Oaklands and Urana.

New Agriculture manages the Lawson Grains portfolio on behalf of its investor, Canada’s Alberta Investment Management Corporation, or AIMCo.

In a statement, New Agriculture director Bruce King confirmed the purchase.

“The Bulgandra Aggregation is adjacent to Lawson Grains’ Borambil Aggregation… providing the opportunity to leverage economies of scale, existing supply chains, and manage these assets for strong investment returns and sustainability outcomes,” Mr King said.

The Bulgandra Aggregation will be run as part of Borambil Aggregation.

The Bulgandra Aggregation has become part of the Lawson Grains portfolio. Photo: Elders Real Estate

The Bulgandra Aggregation was marketed as having extensive support infrastructure, an optimal natural-resource base, excellent fertiliser and input history, and strategic positioning to key grain export pathways.

Improvements include 1400 tonnes of grain storage, machinery and hay sheds, two shearing sheds with adjoining sheep yards, three sets of steel cattle yards, and two substantial homes.

Water on the Bulgandra Aggregation includes comes from dams, two bores, and frontage to the Billabong and Goombargana creeks.

Elders Real Estate handled the Bulgandra Aggregation, and agent Nick Myer declined to comment on the vendor or the price.

“It attracted significant interest from a wide range of investment spheres,” Mr Myer said.

The aggregation is understood to have been locally owned following its purchase in 2020 from US investment fund Westchester, whose model has been to lease out country.

Mr Myer said Bulgandra promised to be a good fit for Lawson Grains.

“It’s not far away from their existing aggregations.”

Lawson Grains’ other portfolios are Kealandi in northern NSW, Jemalong and Uah in central NSW, and Gunnadoo, Hakea, Jerry South, St Leonards, Walyoo, and Wongan in Western Australia.

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