DomaCom sees bullish market for agribusiness
Fractional property investment platform, DomaCom, has remained bullish on agribusiness investment opportunities,in the wake of the recent sale of Kidman & Co to Gina Reinhart and Chinese interests, and launched a new crowdfunding campaign for a northern Queensland beef breeding property.
The company noted that fresh pastures would offer Australian investors the chance to buy a stake in its agribusiness, as people remained motivated to keep rural land in Australian hands and by the steady yield and capital gains they offered.
The Queensland property, which has been in the same family for the past 120 years, had a carrying capacity of 4500 head of cattle, with a long-term capacity to exceed this number.
DomaCom chief executive, Arthur Naoumidis, said: " What our crowdfunding proposal will allow is for this family to retain a significant amount of the equity in the DomaCom book-build, with the capital raised via crowdfunding to be used to pay off bank debt and allow the family to focus on operating the business".
"We will focus our energies on more attainable rural opportunities that we believe will have significant structural benefits for Australian farmers by keeping families on the land with a minimum of debt and helping prevent the sale of properties to overseas interests."
AUTHOR
Oksana Patron
Recommended for you
Outflows from an Australian private markets fund manager have caused FUM at Pacific Current to decline by $1 billion in the last quarter.
Former RIAA chief executive Simon O’Connor has joined the ethical advisory panel at U Ethical Investors.
Financial services leaders are “all cashed up with nowhere to grow” when it comes to M&A activity, according to Deloitte, with 90 per cent saying they have strong balance sheets ready for an acquisition.
As fund managers are urged to diversify their product ranges, they are finding a faster way to do this is via an acquisition of existing firms but experts say it is not without potential culture clashes.
