Lynora Downs is a 4,880 hectare (ha), central Queensland cotton property purchased by RFF in early December 2016. The property is located at the northern end of the Arcadia Valley, 50 kilometres northeast of RFF’s cattle property, Rewan Station.
This acquisition adds a new commodity to the RFF portfolio, and will provide insights into northern Australian cropping opportunities whilst remaining consistent with RFF’s strategy of climatic diversification. While this is RFF’s first major cotton acquisition, RFM has been growing cotton in the Riverina, New South Wales, for nearly twenty years.
Lynora Downs will be leased for five years, with a five year option, to CotJV.
|Lynora Downs||Arcadia Valley, central Queensland||Cotton and cropping||4,880 ha|
CotJV intends to increase the average area planted to cotton on Lynora Downs from around 600 ha to 1,300 ha. RFF will fund the development required to develop additional irrigated area which is forecast to total $3.6m in FY18. This additional expenditure will accrue rent for RFF.
^Lease expiries weighted by forecast FY18 rental income