THE US-based Westchester Group has passed on an opportunity to buy Carrington Farms on the Queensland-NSW border, which was placed on the market with expectations to sell for up to $400 million.
But Westchester president Randall Pope signalled he was still keen to buy in Australia for the right price, The Australian Financial Review reports.
Expressions of interest on the 57,000 hectare operation owned by the Marchant family have closed, with several parties now conducting due diligence.
Carrington carries a water licence of about 160,000 megalitres and has been the target of previous acquisition attempts, such as that of listed agriculture company Tandou in 2007 which had secured the property for $293 million.
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