Aquis to sell Gold Coast farm as it continues to scale back

Hong Kong billionaire Tony Fung is offloading more of his Gold Coast hinterland holding, with a parcel of his Aquis Farm portfolio placed on the market.

The Aquis-owned Hinterland Farm, a 33.67-hectare property near Canungra which forms part of his broader investment portfolio in the area, has been listed for sale with Landsec.

The pre-training property features extensive equine infrastructure, including a 2000-metre grass training track, 1900-metre sand track, multiple stable complexes, horse walkers, a lap pool, treadmill, offices, machinery sheds, accommodation and paddocks.

It also comes with a 32-hectare irrigation licence, creek access and established irrigation infrastructure across tracks and paddocks.

The stallion arm of the Aquis Farm business, which this year will stand Prost, Kobayashi, Officiating and Stronger, is not part of the Fung sell-off.

“Hinterland Farm is a genuine turnkey equine facility with scale, infrastructure, water security and immediate operational capability,” Landsec managing director Greg Benneworth said.

“Properties of this calibre are rarely offered to market, particularly in a location with such strong access to the Gold Coast, Brisbane and the broader Scenic Rim region.”

The for sale sign on Hinterland Farm continues Fung’s planned downsizing of the Canungra holding, with Aquis’ thoroughbred stud holding forming part of a proposed 742-hectare housing development.

Known as Canungra360, the development is being advanced by a consortium of private landowners, including the Fung family, which has operated the thoroughbred farm for the past nine years.

Community consultation on the Canungra360 project was conducted last August.

Plans include residential and retail precincts, with land also set aside for a primary school and high school if the development proceeds.

Aquis’ existing farm sits at the northern end of the proposed development area, while the nearby Elysian Fields equestrian precinct would be retained.

Fung is also behind the billion-dollar joint venture Sunlight Lifestyle Precinct project at Gold Coast Turf Club, which plans to redevelop two hectares of land to the northern end of the racing centre.

In partnership with the Gold Coast Turf Club, the Sunlight Lifestyle Precinct will provide tropical-inspired homes, short-stay serviced apartments, rooftop pools, dining areas and rooftop terraces overlooking the racecourse.

Meanwhile, Hinterland Farm, which also includes multiple dwellings and accommodation, will be offered for sale via an expression of interest.

“The property is suitable for thoroughbred training, agistment, breeding, equine services or private estate use,” Benneworth said.

“There is also potential for buyers to explore tourism, retreat uses, subject to the necessary approvals.

“This is not just a rural landholding. It is an established commercial equine property with income potential, lifestyle appeal and long-term strategic landholding value.”

Tony Fung bought the Canungra property in 2015 after it was sold by Nathan Tinkler’s Patinack Farm.