The 150-hectare property, ‘Doyles’, outside Casterton near the South Australian border, is in the heart of prime beef and sheep region.
Prior to entering into a contract to purchase the property, the fund was successful in securing a strong local operator as the tenant. The tenant will use the property to run beef cattle.
“The identification of good operators to work with in the leasing of the property was key to the transaction. We are striving to deliver a packaged opportunity to investors to enable them to invest into the rural sector through our platform,” DomaCom’s head of property Jason Bennett said.
DomaCom CEO Arthur Naoumidis said the group is “enormously proud” to sign off on its first agriculture crowdfunding project.
“It’s our understanding that this is the first crowdfunding project for agriculture assets anywhere in the world. We knew from the Kidman bid that there was a thirst by mum and dad investors to acquire agriculture assets, and we have been looking at other properties for quite some time,” Mr Naoumidis said.
“People are motivated by a desire to keep prime rural land in Australian hands, as well as the opportunity for steady yield and capital gain. We have already more investors on our books looking to invest in this asset class, so we are confident that the Doyles deal is just the first of many.”