These three groups, the Canadian PSP Investments, the New York Teachers Insurance and Annuity Association of America and Macquarie Agriculture own a total of 6.3 million hectares of our agricultural land,While the largest owner of Australian land by size is Gina Rinehart’s Hancock Prospecting – with 9.7 million hectares – the hectares owned by the top three are worth more than $7.4 billion.
The Teachers Insurance and Annuity Association of America and College Retirement Equities Fund , with its subsidiary Nuveen, own 71 properties in prime crop farming regions in four states. Cotton picking at Twynam Cobran Station, near Carrathool NSW, which is owned by New York-based teachers fund TIAA-CREF.Almond trees in bloom near Robinvale on the Murray River, south east of Mildura, where Canadian pension fund PSP Investments owns 12,000 ha of plantations.Macquarie Group’s Macquarie Agriculture owns $2.7b in agricultural assets, including cattle, sheep and crop lands which produce thousands of tonnes of beef, wool and livestock annually.
PSP, in part, achieved its supremacy over Australian farmland by taking over Australia’s fourth-oldest company, Webster Limited, which owned 340,000 ha and 153,000 megalitres of water. Next, in fifth place, is Warrakirri Asset Management worth more than $800m cropping and dairy farming on 160,000 ha.Billionaire mining magnate Gina Rinehart owns the most land at 9.7m ha but is topped by five other companies including two foreign groups by worth.Aerial of sheep in Louth, Australia, part of Australia’s 385m ha of agricultural land, of which 52.6m ha are foreign owned. Picture: Mark Evans/Getty ImagesThe 1.
You can own all the land you like. If it's north of Gippsland it will be worthless in another decade
A shame. Only Australian citizens should be able to own Australian land. And abolish dual citizenship too.
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