Locals buy up in diverse WA, Qld, Vic sales

Linda Rowley May 22, 2023

RECENT sales indicate demand from local family farming operations for additional cropping and mixed farming country is strong in south-west Queensland, the Victorian Mallee, and Western Australia’s eastern Wheatbelt.

Carson portfolio split three ways

After almost 50 years of ownership, the Carson family’s southern Queensland cropping and livestock portfolio has been split up and sold to three local families.

Comprising three properties spanning 18,180ha, the 6144ha Hooloovale is operated as one hub with the adjoining 6777ha Ooraine and 5258ha Somerset running as another.

Situated 35km from Dirranbandi in the Balonne region, the portfolio was offered for sale in one line or as separate assets by expressions of interest.

The 6144ha Hooloovale, upstream of Cubbie Station, features 471ha of irrigation underpinned by substantial water resources and upgraded pumping infrastructure.

There are also extensive controlled flood-out grazing areas suitable for potential dryland/irrigation development.

The adjoining 6777ha Ooraine and 5258ha Somerset have been developed for both sheep and cattle with an estimated carrying capacity of 15,500 dry sheep equivalents or 1840 adult equivalents.

The country features productive soil types and meandering black/grey soil coolibah floodplains which transition to open woodlands.

Water is provided by a shared bore.

One part of the portfolio, Hooloovale, features more than 400ha of irrigation. Photo: JLL

JLL Agribusiness was unable to disclose the purchase price or the name of the buyers but reported strong domestic and foreign interest.

JLL director Chris Holgar said it was encouraging to see private buyers consistently competing at levels of value which might have almost been seen as reserved for institutions.

“It is a trend that owes its origins to the pandemic, fuelled by logistical challenges of travel, the re-weighting of portfolios and many institutions taking a wait-and-see approach to its impact,” Mr Holgar said.

“Domestic buyers can often settle more quickly and pose less executional risk for the vendor.”

Victoria’s Ivanhoe makes close to $10M

A local family has paid more than $9.7 million for the dryland cropping property Ivanhoe in Victoria’s  northern Mallee.

Located at Meering West, between Boort and Kerang, Ivanhoe has a history of producing crops including wheat, barley, lentils and vetch.

The sale ends 116 years of single-family ownership, with vendors Allan and Helen Rothacker now retiring.

The 1304ha holding comprises two adjoining blocks – 762ha Ivanhoe and 542ha and Ivanhoe North.

The larger parcel includes a silo complex, machinery, workshop and grain sheds, a four-stand shearing shed and yards.

Elders agent Peter Robertson was unable to disclose the buyer or the price paid, but was offering a price guide of around $7400/ha during the marketing campaign.

Ivanhoe at Meering West in Victoria’s northern Mallee has sold locally. Photo: Elders

Mr Robertson said Ivanhoe attracted interest from locals and from farmers in southern Victoria and South Australia.

“The Mallee region’s productive soils and favourable seasonal conditions makes it an attractive destination for growers wanting to expand their operations.”

Water on Ivanhoe is sourced from the Normanville Pipeline System via a 6.7ML water entitlement, as well as tanks and troughs.

It also has the potential to host between six and eight wind turbines as part of a proposed wind farm.

WA turnkey operation makes almost $7M

A local grower has paid close to the $6.95M asking price for a turnkey cropping opportunity in Western Australia’s eastern wheatbelt.

The 7970ha Beria, located at North Wialki and 350km from Perth, comprises 11 contiguous parcels.

One of the earliest developed properties in the area, Beria has more recently converted from a highly productive mixed farm to a sustainable 100 percent cropping operation growing wheat, canola and lupins.

Despite the move, the sheep infrastructure remains in place including fencing, dams, a shearing shed and yards.

Beria includes 1600t of grain storage. Photo: Peter Sippe

Beria has a good balance of heavy, medium and light soil types that have benefitted from strong agronomic management including lime and fertiliser applications.

In addition to a reliable 350mm annual rainfall, Beria has access to water via a scheme connection, rainwater storage and 31 dams.

The property was offered with extensive infrastructure, including 1600 tonnes of grain storage, multiple sheds, a workshop and sheep yards.

Elders Real Estate agents Peter Sippe and Simon Cheetham handled the listing on behalf of an unnamed fourth- generation farming family.


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