Coogee Station at Balranald has sold from the estate of the late Leonard Dalton. Photo: Nutrien Harcourts BR&C

THREE sales in New South Wales to local farming families and a company expansion in northern Tasmania head up the latest transactions to come to light in rural property.

In NSW, separate Namoi Valley properties Jungaburra and Molleen have changed hands, with Jungaburra selling at auction for $23.65 million, while Coogee Station in the Riverina also has a new owner.

Jungaburra, NSW

A local farming family has paid a district record for a blue-ribbon irrigation property with close to 2300ML of water entitlements in north-west NSW.

The 518ha Jungaburra is located in the Wee Waa and Namoi Valley districts and was sold under the hammer at auction for $23.65 million.

The sale ends 56 years of farming in the region by the Revell family who originated from Ord River in north-western Australia.

Jungaburra at Wee Waa sold at auction for $23.65M. Photo: Nutrien Harcourts

Nutrien Harcourts agent James Thomas said the property attracted four registered bidders with three active on auction day.

“Jungaburra has an excellent track record of cotton crop production with the heavy vertosol soils recognised as some of the best the Namoi Valley has to offer.”

Jungaburra has 360ha of flood-protected irrigation growing cotton and sorghum, and 48ha of dryland cultivation used to grow winter cereals and pulses.

It was offered with three water licences totalling 2296ML, supported by three irrigation bores and 600ML of on farm water storage.

The improvements, described as first class, include four homes, numerous sheds and a 50-tonne seed silo.

Molleen, NSW

A local farming family building their portfolio has paid $7.8M to expand with fertile Namoi River farming and irrigation country in north-west NSW.

The 632ha Molleen is located 2km south-west of Wee Waa and 42km west of Narrabri, and has been owned by MH Premium Farms since 2017.

The property was previously owned by another branch of the Rebell family.

Molleen has sold been sold out of the MH Premium Farms portfolio to a local interest. Photo: Nutrien Harcourts

Molleen formed part of the 3900ha Gunedra Aggregation that was quietly offloaded recently by MH Premium to a local farming family.

Around 257ha of the fertile black and brown alluvial river loams were developed to flood irrigation and 211ha to dryland farming.

Included in the sale was 468ha of wheat sown in late April, and two water entitlements totalling 395ML and valued at $1.65M.

Improvements include a five-bedroom home, a three-bedroom cottage, self-contained quarters, numerous sheds, a shearing shed, cattle yards and seed silos.

Molleen is watered by an equipped bore and 600ML of on-farm storage.

Nutrien Harcourts agent James Thomas handled the sale.

St Patricks Run, Tasmania

A productive and versatile irrigation asset in northern Tasmania has sold to an existing dairy farming company for around $10M.

The 1501ha St Patricks Run, incorporating the 563ha Bullocks Hunting Ground, is situated at Nunamara, 17km east of Launceston and 28km north-east of Evandale.

Elders Real Estate agents Nick Myer, Henry Mackinnon and Laurens De Wit were unable to disclose the buyer or the price, but during the marketing campaign, the property was anticipated to make around $10M.

Situated in a reliable 1043mm average annual rainfall area, St Patricks Run was carved off the Dunedin Aggregation owned by Samantha Hogg and Marcus Griffin.

St Patricks Run includes centre-pivot irrigation with entitlements and a 2100ML storage dam. Photo: Elders

Underpinned by highly fertile volcanic red and black basalt soils, the property is suited to cattle, sheep, cropping, horticulture and potential carbon opportunities.

It has 2000ML of irrigation entitlements, a 2100ML storage dam and excellent irrigation infrastructure including 250ha under centre pivots with significant scope for further development.

St Patricks Run also enjoys an 8.8km frontage to the St Patricks River and a 2.6km frontage to the North Esk River.

The Bullocks Hunting Ground block has been managed under a cell-grazing system running 11,300 dry sheep equivalents; with further development, numbers could be lifted to 14,400 DSE.

Improvements include a shearing shed and sheep and cattle yards.

Coogee Station, NSW

A local farming family has paid in excess of $5M for Balranald’s Coogee Station in the southern Riverina.

The 3058ha property was offered to the market earlier this year to finalise the estate of the late Leonard Dalton after 35 years of ownership.

Nutrien Harcourts BR&C agent Joe O’Reilly described the result as extremely strong in a region that has not had many sales recently.

Around 1618ha of Coogee Station is arable and growing canola, wheat and barley.

It is watered by an 8ML licence with a pipeline connected to the Murrumbidgee River supplying tanks and troughs in most paddocks.

Infrastructure includes a four-bedroom home, numerous sheds and a four-stand shearing shed.

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