Miller & James Temora was established in 1903 as a Stock and Station Agency. The company, led by dedicated partners, took a conservative approach to business focusing on long- term client relationships and delivering superior services.About Us
Miller and James Rural – Property acquisition and management solutions still occupies the same offices in Temora, a regionalcentre in the agriculture heartland of NSW where it all began. Also unchanged is the commitment to deliver outstandingservice to all clients. Over the years, the business has evolved from offering a variety of goods and services to its rural clientele, to now concentrating solely on providing real estate and property management services across Australia.
Since 2009 Miller & James has been offering services to international investors. Miller & James offer a complete package for absentee landlords – from the purchase of the property, theidentification of potential tenants, and the management of their farm investments.
Miller & James has two Directors, Angus McLaren and Bruce Holden. There are 10 full time staff employed in the business. All members of the rural team have extensive farming knowledge either being raised on farms or still managing their own farms.The integrity of Miller & James has attracted many loyal clients. The company is widely regarded as the premier rural real estateagency in Southern NSW.
Daniel Köppel works for Miller and James as a European based investment advisor servicing their growing overseas client base.He spends approximately two months every year in Australia visiting farms and meeting tenants operating the portfolio of farms managed by Miller & James. His travels around Australia, which have been more extensive than most locals, has increased his knowledge and ability to identify investment opportunities in the agricultural sector in Australia.
- Bottom of the Cycle
- Increasing Global Demand for Product
- Inflationary Hedge & Low Correlation
- Capital Growth Potential
- Diverse Range of Commodities
- Annual Operational Yields
Miller & James offer complete property management solutions to investors who see rural property as an attractive asset class.
‘Ground truthing’ due diligence process
In the first instance, Miller & James identify suitable farms, which meet certain investment criteria and risk parameters. After a ‘ground truthing’ due diligence process, the findings are reported back to the investor. The next step is to set up an entity to hold the asset. Miller & James have close relationships with several law firms, all of whom specialize in rural transactions and foreign investment. Also, at this stage, an accountant needs to be appointed. The solicitor and the accountant work closely together to ensure the optimum investment vehicle is created for the farm investment.
On most occasions, prior to the purchase of the > property, Miller & James have already identified a tenant who is interested in a long-term lease of the farm. Miller & James have access to a large pool of > quality farmers who are interested in increasing their operations through leasing additional farmland. It is important to take special care in selecting the right tenants. A good tenant is important to ensure your > farm will improve in quality, fertility and appearance and ultimately, also in value.
Once the property is purchased, the next stage is the management of the lease for the investor. Miller & James ensures the lease payments are made on time and takes care of the invoicing, collection of GST, and CAPEX issues. If a tenant believes funds need to be spent on improving infrastructure, Miller & James will conduct an on site visit, collect quotes, and then advise the investor on the best way to proceed.
Miller & James also provide annual reports on the cropping program and other relevant facts to the investor. This might include a summary of commodity price trends or a detailed analysis of the weather. At the end of the lease term, Miller & James will either renegotiate an appropriate new lease price with the existing tenant or find a new tenant.
Leases can be structured in many ways. Miller & James usually recommend five year leases, but they can be for shorter or longer periods. The lease priceis often linked to CPI (consumer price index) and will increase on a yearly basis. The lease yield depends on many factors such as, the region where the farm is situated, whether it is a cropping farm or a mixed farm, whether there is expensive infrastructure on the property etc. Lease yields currently range from 4% to 5.3% based on the purchase price. Lease yields have reduced slightly over the last few years, mirroring falling interest rates across the globe.
Miller & James currently manage over $100 million worth of farming assets across Australia on behalf of local and overseas based investors. The farms are in NSW, QLD and Western Australia. The purchased farms include
Farmland Investment Team
There are 10 full time staff employed in the business. All members of the rural team have extensive farming knowledge either being raised on farms or still managing their own farms.
Head of Acquisitions and Portfolio Management.
Responsible for the management of all farm assets in the farm portfolios, performance of valuation analysis and due diligence during property acquisitions, deal sourcing and negotiating acquisition terms, tenant sourcing and ongoing relationship management
Head of International Marketing
For most of his life, Daniel has worked in the financial industry. He managed various funds for institutional clients at UBS Zürich before moving into the hedge fund industry. Daniel has managed equity long-short funds as well as commodity long-short funds at Zulauf Asset Management AG and Zug Finance AG. He was co-owner of both companies.
Acquisitions and Tenant Relationship Manager
Oscar focuses primarily on property management, acquisition due diligence and developing tenant relationships in his role with Miller & James with a special focus on Northern NSW and Queensland. Before commencing work with Miller & James, Oscar graduated with a Bachelor of Agricultural Business Management from Charles Sturt University.
Acquisitions and Tenant Relationship Manager
Bruce focuses on due diligence of property acquisitions, modelling infrastructure improvement projects, property management and tenant relations. With over thirty years of practical farming experience behind him, Bruce understands what makes the difference between a good farming system and a great
Farmland investment vehicles expert
In 2009, along with Miller & James, Daniel was instrumental in developing farmland investment vehicles for institutional investors and high net worth individuals. He has invested significant amounts of personal money in most of these vehicles highlighting his belief agricultural land is a worthwhile investment.
Daniel is now the European representative of Miller & James servicing their growing overseas client base. He spends approximately two months every year in Australia visiting farms and meeting tenants of the portfolio of farms managed by Miller & James. His travels around Australia, which have been more extensive than most locals, has increased his knowledge and ability to identify investment opportunities in the agricultural sector in Australia.