Extensive dryland and irrigated farming operation, Carrington Farms, has been offered for sale by tender after 25 years ownership by the Marchant family.

The business comprises 57,370 hectares on the Queensland/New South Wales border straddling the MacIntyre River near Goondiwindi and could fetch as much as $300-400 million.

The Carrington Farms sale comes on the back of the high-profile offering by Clyde Agriculture last week, while administrators are still working to find a home for Australia's largest irrigation farm, Cubbie Station.

Carrington Farms stretches 80 kilometres along the river and grows sheep, cotton, beef and a mix of grain and oilseed crops.

Spokesman for the tender, David Wells, Falcon Corporate Advisory Group, said Carrington Farms boasts one of the largest water licence portfolios in the country.

While licenced to hold some 85,000 megalitres of water, its combined total of general, high and supplementary NSW and Queensland water licences come to 160,0000ML, he said.

But with all that water, there has been no approach made to or by the Federal Government which has been on the hunt for environmental water, however Mr Wells said he was sure they would be interested.

The sale also includes a four-stand cotton gin, major storage facilities and multiple homesteads stretching across what were originally 19 separate properties, built up by the Marchant family.

In a statement released to the media today, it says Carrington Farms currently has capacity to produce 125,000 bales of cotton and 42,000 tonnes of grain annually, but has the infrastructure to vary the crop mix depending on market demand.

It has existing grazing capacity with irrigation infrastructure for approximately 6000 cattle or 30,000 sheep. Plans have also been approved for two further feedlots for a further 27,000 head of cattle.