Prominent Tea Family’s WA Farm Sold for Over $50M

The Oaks, a sprawling 5313-hectare farm near Esperance on Western Australia’s south coast, has been sold for more than $50 million to a local farming family, marking a significant transaction in the region’s agricultural sector. Owned for over 50 years by the Malaysia-based Russell family, renowned for their tea production, the property changed hands after just 11 days on the market. This article explores the sale’s implications, the farm’s unique features, and the broader context of agricultural investment in Australia.

Located 40 kilometres northwest of Esperance in the Dalyup region, The Oaks is a mixed farming operation known for its fertile Dalyup loams and sand-over-gravel soils. The property, with 3998 arable hectares, has been optimized for cropping and sheep farming, with 80% of its land deep-ripped to 500mm in recent years to enhance productivity. The Russell family, who also own Nerada Tea in Far North Queensland, Australia’s largest tea producer, decided to sell to redirect capital elsewhere, as reported by Sheep Central. “This sale reflects a strategic shift for the family,” noted local agent Tom Nixon in an interview with Grain Central, highlighting the farm’s appeal to local investors.

The rapid sale underscores the strength of Western Australia’s agricultural market, where prime properties are increasingly sought after. The Oaks’ strategic location and water security made it a standout, fetching a price that reflects confidence in the region’s farming future. Unlike urban real estate, where government policies often inflate costs, rural sales like this demonstrate the resilience of private investment in agriculture, unencumbered by excessive red tape. The transaction aligns with a trend of local families reinvesting in the sector, prioritizing long-term stewardship over speculative gains.

For the Esperance community, the sale ensures The Oaks remains in local hands, preserving its legacy as a productive hub. The new owners, a farming family with deep ties to the region, are expected to continue its mixed-use operations. As Australia’s agricultural sector navigates global demand and local challenges, such as rising input costs, deals like this highlight the enduring value of well-managed farmland. The Oaks’ sale is a testament to the region’s potential and the savvy of investors betting on its future.