BUCCA, a 124 hectare (306 acre) cane farm in the Bundaberg region, has been bought by an Asian based buyer for $2 million to be converted to macadamia production.
Trenton Hindman from Colliers International marketed the property on behalf of Bucca Investments, which has owned the property since 2007. The property is described as a strategic land and water banking asset in addition to a turf enterprise at Canungra. Bucca has a 530.6 megalitre water allocation.
“This sale showcases a perfect mix of foreign capital investment, Australian horticultural expertise and management, and ultimately the export of the popular macadamia nut,” Mr Hindman said.
“Buyers were attracted to the property’s close proximity and access to Bundaberg, multiple freehold titles, infrastructure, climate, and soil and water quality.
“There is an interesting trend currently occurring in the Bundaberg region where we are seeing a change of land use from sugarcane to tree crops.”
A Bundaberg farm management company is set to implement the tree crop establishment and ongoing operation. Scott Allcott, director of Macadamia Farm Management said industry participants are pushing hard to achieve production in a shorter time frame from tree crops to cash in on booming world prices.
Located on Mahoneys Road, Bucca, the freehold irrigation property is in five titles. There are 124ha of irrigated grey loam river flats, almost all of which is planted to cane. The property also has a three bedroom dwelling and sheds.