Dray family offers Proserpine aggregation

Dray family's Proserpine aggregation on the market

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ELDERS: The Dray family is offering its substantial 8825 hectare cane and beef production aggregation for sale on a walk in, walk out basis.

ELDERS: The Dray family is offering its substantial 8825 hectare cane and beef production aggregation for sale on a walk in, walk out basis.

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The Dray family is offering its substantial, 8825 hectare cane and beef production aggregation at Proserpine for sale.

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THE Dray family is offering its substantial cane and beef production aggregation at Proserpine for sale on a walk in, walk out basis through an expression of interest process.

Marketing agent Rob Murolo, Elders, said offers for all or part of the aggregation would be considered.

"This is an opportunity to secure a large-scale sugar and/or grazing property in a highly productive water secure area with further sugar and intensive horticultural development options," Mr Murolo said.

"Proserpine has already had 1390mm of rain so far this year which is 97 per cent of its annual average."

The origins of the aggregation can be traced back to 1925 when Edward (Eddie) Dray, armed with 25 pounds and a loan from the bank, bought his first farm and set off from his family home with only a blanket, crockery and some farm implements borrowed from his mother and father. He quickly established a reputation as one of the hardest working and most passionate farmers in the district.

Eddie's vision that led him to the region has served the family well for three generations; good soils, ample rainfall and high water security.

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The Dray family's aggregation is now 8825 hectares (21,797 acres), with 1248ha of arable land currently producing cane and suitable for alternative high value horticulture.

A further 500ha of grazing land is also suitable for conversion to sugar cane or horticultural production.

The improved pastures are presently used to finish the progeny of the 1000 breeders run on the aggregation.

The property also has 4488 megalitres of water licenses plus six unregulated irrigation bores. The Drays have invested in extensive underground irrigation and storage infrastructure, with the high levels of water security being enhanced by water harvesting (overland flows), drainage and reuse infrastructure.

Covering 36 individual titles, potential buyers will be given the opportunity to express interest in numerous individual assets, or the portfolio as a whole. The sale will also include numerous dwellings and an extensive portfolio of plant and equipment.

"It is rare for a farming enterprise of this scale and quality to be offered to the market in the Proserpine district," Mr Murolo said.

"It is certainly an exciting opportunity and our recent experience in marketing the Faust family aggregation would suggest that these assets will attract significant interest in the local market and further abroad.

"We are anticipating that large private operators, corporate farmers and investment funds will participate in the expression of interest process, together with numerous established Proserpine farmers."

Contact Robert Murolo, 0418 799 934, or Tom Russo, 0409 873 837, Elders.

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