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
15 Dec 2017AIW Dealer Services enters EUBy Staff Reporter
15 Dec 2017New CEO appointed at Centrepoint AllianceBy Staff Reporter
15 Dec 2017FASEA education pathways provide certainty: O’DwyerBy Killian Plastow
14 Dec 2017AUSTRAC adds to list of CBA allegationsBy Killian Plastow
15 Dec 2017Get ‘independent financial advice’: Joe HockeyBy Aleks Vickovich
14 Dec 2017‘Forward-thinking’ advisers drive mFunds growthBy Aleks Vickovich
- view all