New Forests will retain the rights to the blue gum plantations in its Wattle Range portfolio under a leaseback arrangement, after the forest investment giant listed its 5,485‑hectare mixed farming asset in South Australia’s Green Triangle. The portfolio, west of Penola, is expected to attract offers of around $60 million.
According to the listing, published on Tuesday, January 27, the holding comprises three parcels: the Northern Aggregation (2,769 hectares), Central Aggregation (1,451 hectares), and Southern Aggregation (1,265 hectares), all situated within a 12‑kilometre radius. Under the leaseback, New Forests will manage its blue gum plantations through to harvest, with varying timelines for investor possession extending to 2030.
That structure allows New Forests to complete plantation harvests before undertaking full remediation works, ensuring the land is cleared, ploughed, and transitioned to agricultural use before handover. And once remediation is complete, the holding will comprise approximately 4,524 hectares of productive agricultural land and 961 hectares of native vegetation and support land.
Speaking to the Weekly Times, Danny Thomas, the lead agent from LAWD Agribusiness, said the combination of leases and structured remediation made the portfolio a standout opportunity:
“These arrangements ensure there is a de‑risked transition to agricultural use, as well as offering long‑term investment flexibility for prospective buyers,” Mr Thomas said. “Whether the portfolio is divided and purchased separately, or acquired as a whole, investors will benefit from gaining a substantial foothold in this highly productive region.”
It comes as the Sydney-based New Forests, now one of the world’s largest private forest managers, in 2022 broadened its scope by creating New Agriculture — a sister business established to manage its Australian farmland assets and build a global portfolio of agricultural investments.
Please note: Expressions of interest close at midday on March 12, 2026
