US giant TIAA's Westchester has purchased a major part of northern NSW cropping farm Milton Downs from Australia's biggest wheat grower Greentree Farming for a figure some estimate to be in the vicinity of $50 million.
A China-led consortium seeking to buy Australia's S. Kidman & Co will hold off on a fresh bid for the country's largest agricultural land owner amid concerns it could be derailed by a more protectionist new government, two sources with direct knowledge of the matter said.
Australia's business and legal communities are calling for a simplification of the policy under which there are six different monetary thresholds for prospective foreign investors in agricultural land to overcome.
A new poll by the Lowy Institute found 87 per cent of respondents opposed allowing foreign companies to buy Australian agricultural land — six percentage points higher than a similar survey four years ago.
Australia has granted a three-year extension for a Chinese company to reduce its 80 percent stake in Australian cotton farm Cubbie Station after it indicated it could not meet the October 2015 deadline.
Australian agricultural assets remain a major a drawcard for international investors with a string of mainly US-based investors funnelling hundreds of millions into a $1 billion fund established by the Queensland agribusiness investment firm, Laguna Bay Pastoral Company.