Now heading into its fifth week, Domacom's Kidman Station crowdfunding proposal is approaching 3,000 expressions of interest to participate with close to $50 million pledged and has garnered several hundred thousand supporters via social media.
Speaking to ifa, a DomaCom spokesperson said that the level of interest from mum-and-dad investors showed that there was a "healthy appetite among investors for access to rural property".
"Whilst the $400 million campaign is an audacious bid, in such a short time it has highlighted the Australian people's desire to protect our food security and our valuable agricultural assets," he said.
In December last year platform DomaCom launched a plan to allow retail investors to invest in Kidman Station, Australia's biggest private landholding and one accounting for 1.3 per cent of Australia's total land area.
In November the Turnbull government blocked the sale of Kidman to Chinese investors, although it is understood that there could be another proposal to the Foreign Investment Review Board in the works.
"DomaCom believe that financial advisers should practice what they preach in terms of diversification and give the rural sector some exposure in their recommendations as they do with equities, fixed interest and other classes of assets," he said.
"DomaCom are referring these investors out to financial advisers who are supporting both the DomaCom Fund and the Kidman initiative, and expect that this will continue for some time beyond the current Kidman Station campaign."
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 23 Jul 2018Sunsuper makes new board appointmentBy Reporter
- 23 Jul 2018Cardena announces partnership with loan brokerageBy Reporter
- 23 Jul 2018Royal Commission reveals round five focusBy Reporter
- 23 Jul 2018FASEA issues draft professional year guidanceBy Reporter
- 23 Jul 2018AAT reduces adviser’s banning periodBy Reporter
- 23 Jul 2018BT announces Panorama pricing changesBy Reporter
- view all