The Weekly Times | 17 September 2025 Gina Rinehart snaps up major slice of $220m cropping farms
by Tallis Miles
Hancock Prospecting Executive Chairman Gina Rinehart has spoken on the Australian government’s attitudes towards the nation’s farming and dairy industry. Leaders and experts have gathered for News Corp’s Bush Summit, taking place in Mount Gambier in South Australia. Ms Rinehart spoke to Australian farmers to find out the “truth” regarding the impact the government’s net-zero agenda is having on them.
American investors have carved up their 23,595ha portfolio of cropping farmland in southern Queensland and northern NSW, offloading a major slice to billionaire Gina Rinehart.
Ms Rinehart’s Hancock Agriculture has emerged as the buyer of Proterra Investment Partners’ 7000ha Jandowae Aggregation, about 50km north of Dalby, adding it to their powerhouse southern Queensland cropping arm.
The transaction has not yet been finalised, pending settlement.
It is understood Hancock Agriculture will add the Jandowae properties to their existing landholdings in the Darling Downs region, including the Warra aggregation, which comprises about 14,000ha of mixed irrigated and dryland farming, located between the townships of Warra and Jimbour.
Hancock Agriculture chief executive Adam Giles refused to comment on the acquisition.
The Jandowae purchase is Ms Rinehart’s fourth major farmland transaction this year following a $70m deal for the 10,000ha Wongaboori Station, near Dubbo, plus the additions of the 7000ha Jindabyne Station, near Inverell and the 5003ha Wirribilla, near Walcha, via S. Kidman and Co. for a combined $112m.
Through her Hancock Agriculture and S. Kidman and Co businesses, Ms Rinehart’s Australian agricultural portfolio is now worth more than $2 billion, spanning in excess of 20 properties and covering 3.49 million hectares.
There are four parcels of developed dryland cropping land from Jandowae remaining on the market; Eurangatuck (768ha), Dewai (468ha), Oaklands (389ha) and Crooks (137ha).
Collectively the 21,800ha of the One Tree Portfolio have sold for more than $220m in total, with three Australian farming families understood to have each purchased a slice of the 7934ha Umbercollie Aggregation.
Earlier this year it was revealed Alkira Farms, a subsidiary of The Church of Jesus Christ of Latter-day Saints’ Farmland Reserve had purchased the 5694ha Calrossie Farm, formerly the North Star Aggregation of the One Tree Portfolio, located 45km north of Moree in northern NSW, via a $68m deal.
LAWD senior director Danny Thomas and director Elizabeth Doyle handled the sale of the One Tree Portfolio. They were unable to comment on the identity of the buyers of the Jandowae and Umbercollie Aggregations.
“The sales result for Umbercollie and the Jandowae Aggregation parcels reflects the strong appetite from family farming enterprises to expand and invest for the future, and it has been rewarding to see their engagement through the process,” Mr Thomas said.
“We are currently in talks with interested parties in relation to the remaining parcels of land in the Jandowae Aggregation, which will go to auction in October 2025 if not sold before.
“When we brought the One Tree Portfolio to market, we expected it to draw local and global interest given it was an unparalleled institutional grade broadacre cropping opportunity, however we are seeing offshore investors hesitating to commit to the Queensland market because of the foreign owner’s land tax surcharge.”
US-based investment firm Proterra first listed the 23,595ha One Tree Portfolio for sale in 2022 amid a $400m offering as part of their exit from a 10-year Australian agricultural investment term.
The listings came shortly after Proterra offloaded its massive 22,500ha Corinella Farms for more than $360m in late 2021, selling its portfolio of western Victorian and South Australian cropping farms to 27 different Australian purchasers.
