FIVE overseas wealth funds are serious contenders to buy 203,000 hectares of land from Bullfinch farmer and machinery dealer John Nicoletti.
When expressions of interest closed last Friday, 47 genuine enquiries had been listed, including only one from an Australian company.
According to Mr Nicoletti, property inspections are planned to take up most of next week.
Mr Nicoletti decided to sell his property portfolio in May, which includes 157,000ha of arable country of which 62,000ha is freehold and 95,000ha is leasehold.
The offering spans areas throughout Merredin, Westonia, Bullfinch, Mukinbudin, Southern Cross and Mullewa.
The properties feature an extensive range of infrastructure, including 25 good quality houses, 12 shearing sheds, 15,000 tonnes of on-farm storage and sheds.
Most of the properties have scheme water or otherwise have good quality dams, making most of the land suitable for mixed farming.
Modern plant and equipment includes 14 headers, 12 seeding rigs, seven boomsprayers, eight prime movers, four speed tillers, 13 high horsepower tractors, seven front-wheel assist tractors and seven telehandlers.
A clause in the offering stipulates that all staff must be retained and proceeds of the 2018 crop remain with the vendor.
“I’m pleased there’s an Australian company in the mix but there wasn’t a lot of Australian interest,” Mr Nicoletti said.
“Nearly all of the offers came from super or pension funds from all over the world.
“Now it’s time for those really interested to put pen to paper and we’ve already got five people representing the potential buyers, who want to do that for the whole lot.
“We’ll wait for them to make a move then we go into a due diligence stage.
“I’ve got farm inspections taking place for most of next week, so I don’t expect we’ll be waiting around too long to sign the necessary papers.”
