Property

Gundagurra sells locally, Earles buy Eural

Linda Rowley, February 18, 2024

Gundagurra has been sold to local interests by Deniliquin Freighters owners Russell Tait and Vicki Meyer. Photo: Nutrien Harcourts

LOCAL appetite for expansion is alive and well in New South Wales, as evidenced by the recent sale of Gundagurra near Deniliquin, and the Eural Aggregation near Boomi.

Gundagurra

A blue-ribbon livestock, winter and summer dryland, irrigated cropping and fodder enterprise in the Riverina has been split up and sold to locals.

The 3626ha Gundagurra is located 14km east of Deniliquin and was offered for sale by prominent locals Russell Tait and Vicki Meyer who own and operate Deniliquin Freighters.

The aggregation comprises six productive adjoining blocks amalgamated by the vendors over a 20-year period. They comprise:

  • 433ha Gundagurra;
  • 281ha Bluebell;
  • 436ha Boundary Park;
  • 371ha Prosperity;
  • 1262ha Gollops Run; and,
  • 842ha Pretty Polly.

Nutrien Harcourts agent James Sides said Gundagurra was split into four lots and sold to near neighbours and locals.

While he was unable to disclose the price paid, during the marketing campaign the property was anticipated to achieve around $30 million.

Mr Sides, who fielded inquiries from local corporate and family operators as well as Sydney and Melbourne investors, described Gundagurra as the best holding he has listed in his 27-year career at Deniliquin.

“Impressive from the front gate to the back, the property has been expertly managed and superbly maintained.”

Gundagurra features quality infrastructure, 52km of boundary exclusion fencing, abundant water, 1000ha of drought proof irrigation, 3000ha of highly fertile, alluvial, self-mulching and soft loam cropping country.

Over the past 15-20 years, Gundagurra has been running 3800 sheep and 230 cows and calves plus replacements on healthy Tuppal Creek fattening country, containing lucerne, oats and rye.

Additional livestock are turned off annually on a rotation basis, with young trade lambs and vealers grown out for a period of 12 to 18 months, season permitting.

Eural Aggregation

Mungundi’s Andrew Earle and family, Bullawarrie, have added the Eural Aggregation to their substantial holdings on the NSW-Queensland border.

The mixed-farming operation is located 8km north-west of Boomi and 85km north of Moree in north-western NSW.

Comprising five adjoining properties, the 5926ha aggregation was put together by three generations of the Hickson family, with the original Eural block purchased back in 1929.

Moree Real Estate agent Terry Adams was unable to disclose the price, but during the marketing campaign the Eural Aggregation was anticipated to achieve between $35.5 million ($6000/ha) and $44.5 million ($7500/ha) based on recent sales in the area.

The country is mainly level, self-mulching, grey and black soils, timbered with coolibah, belah and myall.

Around 3200ha is arable with the Hicksons growing faba beans, barley, oats, sorghum, forage oats and legumes on around 2840ha. The balance is used for grazing sheep and cattle.

The Eural Aggregation at Boomi has improvements suited to cropping and livestock. Photo: Moree Real Estate

Vendor John Hickson and his family made the decision to offload the Eural Aggregation after 94 years ownership to allow them to move into livestock.

“My grandfather was rumoured to be the first farmer to grow wheat north of Gunnedah.

Despite all three generations growing wheat, we prefer to run sheep.”

Mr Hickson said the Eural Aggregation is situated in an area dominated by cropping.

“Stocking rates are adjusted according to rainfall. During the 2019 drought, the property was totally destocked, but it is capable of running up to 8000 sheep,” Mr Hickson said.

Eural has been in the HIckson family for 94 years and has just sold to Andrew Earle and family based at nearby Mungindi. Photo: Moree Real Estate

Situated in a tightly held district that averages around 540mm of rainfall a year, Eural has double frontage to the Whalan Creek, access to the Boomi East and Euraba capped and piped bore schemes, three dams, 36 tanks and 62 troughs.

The aggregation comprises five adjoining properties:

  • 1600ha Eural has a 60,000l rainwater tank, quality fencing and some exclusion fencing. Infrastructure includes a five-bedroom home, a four-stand shearing shed, sheep and cattle yards, a large machinery shed and six silos with 377t of storage;
  • 1242ha Glenmore is watered by a dam and a bore. Improvements include a three-bedroom home;
  • 1343ha Naroola is watered by a dam and has a six-bedroom home;
  • 677ha Broxburn has access to the Whalan Creek. Infrastructure includes a five-bedroom home, cattle and sheep yards, sheds, a small feedlot and 45t of grain storage; and,
  • 1064ha Boonal West has a dam and a bore, an old house, quality fencing and two silos with 400t of storage.

 

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