Property

Booborowie, Cressy listings to test mixed-farming market

Grain Central, February 28, 2022

A portion of Old North Bungaree is for sale. Photo: CBRE

THE market for high-value mixed-farming country is to be tested this autumn with the offering of a portion of Old North Bungaree in South Australia, and Tyburn at Cressy in Victoria.

Located in the Booborowie district in SA’s Mid-North, the 678ha portion of Old North Bungaree is offered for sale in one line or as two or three separate land parcels.

The block is located 38 kilometres north-east of Clare and 200km north of Adelaide, and the price guide indicates it will fetch around $19,500 per hectare.

A total of 639ha of the offering is arable, with the property suited to cropping or running livestock, with a small percentage of lucerne, plus shelter belts and permanent water from two creeks.

The property is underpinned by red and brown loam soil over red clay, and the nearby Booborowie township receives an annual average rainfall of 437 millimetres.

Improvements include a home, a hay shed, sheep yards and two bores.

CBRE Agribusiness’s Phil Schell and Angus Bills are managing the sale campaign on behalf of the London-based vendor, with expressions of interest invited before April 14.

“This is a quality offering in the tightly-held Mid-North, and we’re expecting prices to approach $19,500 per hectare,” Mr Schell said.

“The property features the characteristics of a highly-productive broadacre cropping platform, benefiting from scale, operational efficiency, fertile soils, idyllic climate and a desirable location.”

South Australia’s Mid-North is home to a diverse agricultural sector, with and Mr Schell said demand from local families looking to grow their existing operations was helping to drive up prices.

“We’re expecting interest from local landowners looking to expand their presence, producers seeking geographic diversity, and corporate entities,” Mr Bills said.

“Buyer confidence in the state is on the rise, and demand is currently outstripping supply when you combine the family and corporate interest.”

Tyburn sits between Ballarat and Colac in Western Victoria, and is being sold by Elders’ Nick Myer and Sean Simpson.

Covering 433ha, the canola block has been held by the Reynolds family since 1917 and is expected to make around $27,000/ha.

Tyburn at Cressy in south-west Victoria is for sale. Photo: Elders

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