Erregulla Plains is now off the market

Erregulla Plains is now off the market

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Details have started to emerge on the sale of one of Western Australia's largest broadacre properties.

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DETAILS have started to emerge on the sale of one of Western Australia's largest broadacre properties.

Owned and operated by Stuart and Cherie Smart, Erregulla Plains at Mingenew spans 22,191 hectares.

If sold as one whole parcel, it will be one of the largest transactions of cropping land in WA and certainly for the Mid West.

According to Ray White Rural principal and listing agent Steve Vaughan, this looks likely to happen in the near future.

Mr Vaughan said the whole of Erregulla Plains was under contract to a corporate buyer, confirming it was off the market.

Due to confidentiality, he declined to identify the likely buyer and would not reveal any indication of price.

Over decades and three generations, the Smart family has become synonymous with agricultural innovation, with Mr Smart, his father Peter and grandfather Sir Eric Smart all being renowned and highly regarded within the industry.

One of the major draw cards for this large-scale farm is that although it is multi-titled, Erragulla Plains is in one co-joined (complete) block encompassed within one boundary.

The property went to market at the end of August and expressions of interest closed about a month ago.

Mr Vaughan said he had received a lot of interest in the property, from corporate buyers and local farmers.

If the deal goes ahead, it will be the largest transaction in terms of size and likely monetary value since John and Julie Nicoletti sold their extensive portfolio of cropping land throughout the eastern Wheatbelt.

In April it was announced that Mr and Ms Nicoletti had sold their 200,000ha land offering to Saudi Arabian business Saudi Agricultural Investment Company for more than $60 million.

The sale marked the company's first purchase of Australian farmland and its first global investment in sheep.

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