THE UK-owned Clyde Agriculture is for sale.
Private group John Swire and Co will sell the company which owns 13 rural properties in NSW and Queensland.
Mid-way through 2008, the company put four livestock properties onto the market. Three were sold, one of which was Toorale at Bourke which the NSW Government bought for its enormous water allocation in late 2008.
The 13 properties total 273,000ha and are a mix of cropping, grazing and irrigation.
Chairman Bill Rothery said Swire Pty was divesting Clyde Agriculture to concentrate on the core business of the company. The company has nine other companies in Australia in the transport, logistics and industrial services sector.
"Swire Pty has a strong focus on cold storage and distribution, and significant investments in materials handling, particularly industrial waste and recycling,'' Mr Rothery said.
"The decision to sell Clyde now is based on an exceptional confluence of factors, including excellent seasonal conditions, high commodity prices, and increasing Australian and international investor interest in Australian agriculture.''
The portfolio will be offered through an Expressions of Interest by mid April.
The sale is of the entire portfolio, however proposals to buy individual assets or groups of assets will be considered, the company said in a statement yesterday.
It is expected the sale will be completed by early July.
