Rural Funds eyes further sales of farms to cut debt and risk

Already a subscriber?ASX-listed Rural Funds Group may look to sell half-stakes in about $163 million of farms it currently owns and operates as it looks to reduce gearing amid expectations interest rates will remain higher for longer.

While Mr Sheridan said Rural Funds was not looking to sell these properties outright and was “comfortable with its gearing” it could “put those properties into similar transactions ” . Mr Sheridan said the proceeds of the sale of Mayneland and Baamba Plains would reduce debt, rather than go towards its big project to develop“The macadamia orchards are fully funded. We have a facility in place for those,” he said.

“Land values are plateauing, but we are not seeing any declines across our portfolio,” Mr Sheridan said.ANREV Australian Farmland Index

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