Innisfail Sugarcane Aggregation hits the market

INNISFAIL, 10 October 2023 – Innisfail Sugarcane Aggregation has gone on sale via an Expressions of Interest campaign that’s expected to draw strong domestic and foreign interest among sharpening global sugar prices.

Located in Far North Queensland’s Cassowary Coast region, the productive enterprise covers roughly 405 hectares, which are managed as eight distinct designated dryland sugarcane farms.

The sale is exclusively being handled by James Mitchell – JLL Agribusiness Executive, with JLL Agribusiness Directors Clayton Smith, Chris Holgar and Geoff Warriner.

“The holding has an interesting backstory as it was progressively acquired and developed across 18 years by two private local families,” Mr Mitchell said.

“Having effectively built it from the ground up, they’ve created a strong agricultural legacy in a part of Queensland which is traditionally tightly held.

“Given the rarity of the offer and the strength of the sugarcane industry, we expect significant interest from existing local producers, agricultural consortia and corporate investors nationally.”

Across the Aggregation – which lies roughly 1600km from Brisbane - dryland sugarcane farming areas have been established to capitalise on the average annual rainfall of 3.5 metres and the productive soil types, which cover slightly undulating and flat floodplains of the Innisfail/Red Volcanic districts.

It is complemented by seven sugar mill receival points, reducing hauling distances from the harvester to the cane bins, and its proximity to the MSF South Johnstone sugar mill, which is roughly 7km from the centre of the Aggregation, promoting efficiency and productivity.

Operationally, the enterprise has two full-time staff members, with a series of contractors used for planting and spraying requirements. Its location right on the doorstep of Innisfail provides easy access to agricultural support services and workforce.

Mr Mitchell noted the aggregation offered would-be buyers potential that extended beyond agriculture.

“The productive sugarcane land is complemented by a secondary income stream generated by a partnership with GreenCollar for Reef Credit generation,” he said.

“This sees properties incentivised to help tackle the issue of poor water quality being distributed into the river systems and catchments affecting the Great Barrier Reef.

“Due to its proximity to Innisfail, roughly 18.53 hectares have also been designated within the ‘planned’ urban footprint of the Far North Queensland Regional Plan (2025).

“This creates potential for a variety of future development outcomes and residential densities, subject to council approval.”

The Aggregation is dissected by Queensland Rail’s North Coast line and offers ready access to the Bruce Highway, a major thoroughfare along Australia’s East Coast.

Expressions of Interest for the Innisfail Sugarcane Aggregation close on November 9 at 4pm (AEST)