Property

Allengrove, Rangelands join NSW, southern Qld listings

Linda Rowley January 31, 2025

The 2931ha Allengrove Aggregation, between Forbes and Parkes, is on the market. Photo: LAWD

RECENT action in the market from Central West New South Wales to southern Queensland includes the listings of the Allengrove Aggregation and Rangelands, and the sale of Dundenoon and the Ascot and Arundel Aggregation.

Allengrove Aggregation, NSW

The Deniliquin-based Dye family is selling its dryland cropping opportunity in New South Wales’ Central West for just under $25 million.

The 2931ha Allengrove Aggregation is 10km from Parkes and 16km from Forbes and comprises three non-contiguous properties – 1153ha Allengrove, 1202ha Oaklands, and 576ha Heatherleigh – located within a 10km radius.

Purchased by the family in 2012, Allengrove was expanded with the addition of nearby properties Oaklands and Heatherleigh.

As a whole, the aggregation is for sale for $24.99 million; however, each of the properties can be purchased separately, with Allengrove listed for $11M, Oaklands for $8.85M, and Heatherleigh for $5.14M.

Mr Robertson said the stubble has been fallowed and is clean and ready for the incoming purchaser, who will be given access at exchange of contracts.

“Already, corporate investors and farming families are showing good interest in purchasing the aggregation as a whole or in parts.”

Around 2656ha, or 91 percent, is arable and grows wheat, canola, chickpeas, barley and faba beans on open and level land featuring red-brown earths and alluviums that come with an extensive liming history.

Situated in a 550mm rainfall area, water is provided by bores and a town water scheme.

Infrastructure includes a four-bedroom home on Allengrove and additional accommodation on Heatherleigh, grain silos with 1000-tonnes of capacity and numerous sheds.

LAWD agents Ian Robertson and Fraser Robertson are handling the sale of Allengrove with the offers to purchase campaign closing on March 6.

Terlings and Dundenoon, NSW

An institutional-grade dryland-cropping and grazing opportunity made famous by a royal visit has been split up, with a portion selling to a local family for expansion.

The 1860ha Terlings and 1400ha Dundenoon are 3km apart, and were offered for sale as a whole or as separate assets by LAWD and Moree Real Estate via an expressions-of-interest process.

Both are located 48km north-east of Moree and 76km south-west of Goondiwindi in the acclaimed Golden Triangle region of north-west NSW.

MRE agent Sandy Bailey was unable to disclose the buyer or the price paid, but Dundenoon is understood to have achieved above $15M, including 400ha of cotton.

Meantime, around $17M is anticipated for Terlings, with country mostly level to gently sloping black, brown and red self-mulching loams, described by Mr Bailey as “first class”.

Terlings has 1274ha, or 69 percent, of cultivation, with the balance grazing and support land.

The property is dissected by the Nee Nee Creek and connected to the Kiga capped-and-piped bore scheme, with addition water provided by a bore and several dams.

Infrastructure includes an historic seven-bedroom homestead, 549 tonnes of grain storage, a 1200t grain bunker, steel cattle yards, a 16-stand shearing shed, and numerous sheds.

Slice of history

Spanning a combined 3260ha, the two properties were held by well-known industry veteran Sinclair Hill before his daughter Carina and husband Ed Shannon took ownership in 2019.

Mr Hill is credited with teaching King Charles III to play polo.

In 1981, he hosted the then Prince of Wales at Terlings over the Easter long weekend.

During the family’s 120-year tenure, the enterprise has transitioned from fine wool to a bullock-backgrounding operation and more recently to cereal, pulse, and oilseed production.

Crops including canola are grown on Dundenoon. Photo: MRE

Around 73 percent of the aggregation is arable and accommodates a winter and summer-cropping rotation, comprising barley, wheat, canola, sorghum and chickpeas, on a mix of black, brown and red self-mulching clays.

During the sales campaign, Mr Shannon told Grain Central the quality of the soil spoke for itself.

“After converting from livestock, the first wheat crop yielded six tonnes per hectare in a year that was particularly challenging for a number of reasons, including a very high rainfall,” Mr Shannon said.

“The country has a slight undulation throughout, allowing for flooding rains to drain very quickly, which we see as something of a defining feature of these blocks.”

Mr Shannon said the enterprise also offered potential biodiversity offsets.

“Preliminary studies by the Biodiversity Conservation Trust have identified unique environmental habitats for koalas and endangered ecological communities.

“These have the potential to provide ecological financial benefits for any future owner.”

Ascot & Arundel Aggregation, Qld

Three local families are believed to have paid more than $21M for a turnkey blue-chip farming asset on southern Qld’s Darling Downs.

The 1015ha Ascot & Arundel Aggregation is located 21km east of Cecil Plains and 58km south of Dalby.

It comprises four separate holdings operated as two distinct management hubs – the 324ha Ascot and 189ha Hoedown, and the 259ha Arundel and 244ha Glengyle.

Offered for sale by expressions of interest in one line or as individual assets, Ascot and Hoedown were sold separately, while Arundel and Glengyle were purchased by another family.

During the sales campaign, JLL Agribusiness director Clayton Smith was unable to disclose a price guide or the vendor, who he described as a sophisticated investor.

The Ascot & Arundel Aggregation on the Darling Downs has sold to local farming interests for more than $21M. Photo: JLL

Mr Smith said the well-developed, fully operational farm had been progressively developed into a highly productive irrigated enterprise.

“The aggregation has some of the richest black soils Australia has to offer, perfect for producing high yielding crops when paired with the three on-farm water resources and the functional irrigation development.”

Situated in the heart of a prime farming region, the properties have water security and functional infrastructures for efficient production.

Combined, 81 percent is irrigable land with the balance dryland cropping and support land.

During their ownership, the vendor had invested significant capital into new pump stations and a new 18-span lateral irrigator ensuring high levels of operational efficiency.

Irrigation water is underpinned by ground water via the Condamine Alluvium, with a total licenced volume of 187ML.

Additionally, there is a 40ML unsupplemented water allocation from the Upper Condamine Zone, a 300ML volumetric limit, 1106ML of on-farm water storages, and opportunistic capturing of overland flows.

Rangelands, Qld

Goondiwindi’s David and Annie Beare are selling their fully exclusion-fenced livestock and cropping opportunity in southern Qld.

The 2641ha Rangelands is located 43km from Talwood and halfway between Goondiwindi and St George.

Capable of running 600 backgrounders, Rangelands is close to livestock markets in Qld and NSW, as well as feedlot operations and grain-handling facilities.

Nutrien Harcourts GDL agent Andrew McCallum said the property is experiencing a good season.

“Conservatively stocked and boasting plenty of feed, livestock do exceptionally well,” Mr McCallum said.

“Rangelands and the broader Talwood district are conducive to backgrounding and breeding operations with a blend of cultivation.”

Rangelands has around 80ha of cultivation, with considerable scope for expansion, and can carry around 800 backgrounders. Photo: Nutrien Harcourts GDL

Mr McCallum described Rangelands as low-cost, low-maintenance, and easily managed.

“There has been good interest from those in search of a starter block, locals wanting to expand with a satellite block and from northern and western Queensland producers seeking geographic diversity.”

The country features soft red belah soils running to lighter red undulating box, sandalwood and wilga soils with areas of brigalow.

The Beares have been growing around 80ha of fodder crops, but there is potential to expand this area to more than 800ha.

Watered by nine dams, two of them equipped, the infrastructure includes a three-bedroom home, a shed and two cattle yards.

Rangelands will be auctioned on February 28.

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