A $32 MILLION sale of the Harris family's "South Ravensworth" farm near Hay in the Riverina has started speculation the family is now in line to buy Clyde Agriculture's remaining Australian assets for as much as $50m.
Clyde Agriculture, a subsidiary of the UK-based Swire Group, confirmed the properties "Beemery", "Janbeth" and "Latoka", totalling well over 30,000 hectares at Bourke in western NSW, had not yet sold.
"We are preparing a full marketing campaign and we are in discussions with a small number of parties who have an interest in these properties," Swire Group chief operating officer Greg Hughes said in a statement.
Peter Harris declined to comment on any sale process but said he had an interest in the properties which have a total of more than 20,000 megalitres of water licences and have a focus on cotton production.
The sale of "South Ravensworth" farm included 34,585ML of water entitlements and 7450ha of land.
That deal, funded by new bank facilities from National Australia Bank, was conditional on a certain loan being made available to the vendor.
Any move by Mr Harris to take on the Clyde holdings would seem logical and there has been plenty of appetite for Clyde's property portfolio since it started selling off in 2010.
The family behind Bell Potter Securities and one of Australia's best rural property portfolios, the Bells, purchased two Clyde Agriculture holdings in northern NSW in 2011 for more than $50 million.
While Hassad Food Group, which is backed by the Qatar Investment Authority purchased Clyde's 125,300ha "Clover Downs" for $18.5m.
The original Clyde portfolio included more than 270,000ha of prime grazing and irrigation country in NSW and Queensland worth an estimated $300m.
