A 700-hectare historic dairy farm in Tasmania's fertile north-west has been sold for $15 million to a Melbourne-based asset fund.The new owners intend to convert the property from an organic dairy enterprise to a conventional one in its goal to farm 10,000 dairy cows.
The sale equates to about $21,400 a hectare, which is less than the region's median price of $25,583 a hectare. "We're probably looking to be milking 900 to 1,000 cows, so we will have to do some work on the effluent system," she said.Ms Keightley said the sale would mark the end of Prime Dairy's expansion in the area, where it had already experienced a 35 per cent improvement in production since last year.
"We stopped collecting milk from all VDL farms on February 1 after providing VDL with several months' notice to mitigate the impact on their business and supporting them in determining their next steps," he said.The deal marks yet another break up of what was Australia's largest dairy operation, run since 2016 by Chinese-backed Moon Lake Investments, rebranded as Van Dairy Limited.
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