South Australian farm for sale after 100+ years in one family

ADELAIDE, 5 February 2024 – Former Australian Farmer and Grain Grower of the Year (ABC and GRCD) Peter Kuhlmann is bringing down the curtain on more than a century of family farming history with the sale of historic Mudabie on South Australia’s Eyre Peninsula.

Strategically expanded and evolved through three generations of fathers and sons, the 18,400-hectare Mudamuckla landholding – one of the state’s largest contiguous cropping properties - is being sold via an Expressions of Interest campaign as a turnkey operation.

Offers north of $20 million on a Walk-In Walk-Out basis are expected.

Jock Grimshaw, Geoff Warriner and Chris Holgar from JLL Agribusiness are exclusively marketing the institutional-grade asset, which supports a mixed-farming operation primarily focused on broad-hectare dryland cropping and a breeding flock of merinos for prime lamb and wool production.

Mr Grimshaw highlighted its contiguous productive capacity within a region that features well-established and essential agriculture infrastructure.

“With its position in the renowned Eyre Peninsula, Mudabie enjoys proximity to the deep-sea Thevenard Port, creating immediate access to critical export channels, as well as multiple grain receival sites, all connected via direct frontage to the Eyre Highway, providing ease of access to end-markets,” he said.

“This readymade network enhances its core appeal as a turnkey operation, with features including an extensive suite of plant and equipment, established management systems, and outstanding structural and ancillary improvements, including two historic homesteads, staff residences and an airstrip.

“With the property coming to market for the first time, we anticipate strong interest from corporate and institutional groups, drawn by the opportunity to secure geographical diversity via the Eyre Peninsula region at an unrivalled scale, as well as private operators seeking greater scale in the region due to the property’s tightly held and high-performing history.”

Mr Holgar said Mudabie, which had roughly 12,470 arable hectares, was operated by a team with significant local knowledge and more than 70 years’ experience in agriculture. More than 40 years had been spent under the stewardship of Mr Kuhlmann, who took over as Managing Director in 1981 and continued the family legacy of leadership, evolution and best practice in management and acquisition.

“The Kuhlmann’s ongoing investment in education, research and technology has positioned Mudabie as a leader in the agricultural sector,” Mr Holgar said.

“Through a continued focus on incremental improvements and precision agriculture, they have been able to minimise risk while enhancing financial efficiency and profitability.

“This has played out across every level of the business, from practical strategies such as the implementation of risk mitigation via minimum tillage cropping systems to the introduction of remote management systems and the establishment of an independent Farm Advisory Board.

“It has allowed the property to best capitalise on strong growing conditions in recent years.”

Mr Warriner said Mudabie’s appeal was further enhanced by its comparative value proposition.

“Underpinned by best-practice management, Mudabie has been able to drive incremental improvements in cropping yields, creating a substantial impact on financial outcomes, with a return on asset averaging in excess of 8 per cent on the past five years, significantly above industry average,” he said.

“On a national basis, the region represents a strong value proposition when you consider land rates and productive capacity. Compared with many other mid-to-high rainfall cropping areas throughout Australia, it offers a stronger and more attractive return profile.”

The EOI campaign will close at 4pm (ACDT) on March 14.

MUDABIE HIGHLIGHTS

1911 - Charles ‘Harry’ Kuhlmann relocates from the Barossa Valley to start farming in Mudamuckla

1918 - Harry buys the first portion of land, which he had leased since his arrival

1955 - Harry’s son Frank Kuhlmann takes on sole management of the property

1981 - Current owner Peter Kuhlmann starts at Mudabie as managing director

2000 - Peter relocates to Adelaide and implements remote management systems

2012 - Peter is named Australian Farmer of the Year (ABC) & Australian Grain Grower of the Year (GRDC)

2024 - Mudabie is offered to market for the first time