MORE than $1 billion worth of cotton property is currently listed for sale in southern Queensland and northern NSW, but unlike during the past five years, the properties now have water and are likely to attract buyers.
Large operators that are getting out or couldn't make it through the drought are selling up just as the stars align, according to The Australian Financial Review.
The price of cotton has climbed 65 per cent in the past year to more than 83 cents per pound due to production shortages in China and the United States.
Australia's biggest cotton producer, Cubbie Station in South West Queensland, is in administration and is likely to fetch between $200 and $300 million.
Carrington Farms on the NSW border is on the market with several investors conducting due diligence, and the vendors are hopeful of receiving up to $400m.
The Darling Farms aggregation at Bourke, NSW, suffered under the drought and is in the hands of receivers. It is on the market and could fetch $90m.
Clyde Agriculture is selling its entire operation, including a cotton business that produced 30,000 bales this year, and is likely to fetch $400m.
A number of smaller properties such as Darran, Andarmat and Ballandool are all expected to reap more than $10m.
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