Property

Locals, city investors secure rural holdings

Linda Rowley, February 26, 2024

AN AGGREGATION near Deniliquin in the New South Wales Riverina was split and sold to four neighbours. Two southern Queensland properties underpinned by big irrigation allocations were bought by locals, while Perth investors took on country in Western Australia’s Great Southern and Geraldton regions.

Here are reports of recent property sales.

Gundagurra, NSW

A blue-ribbon livestock, winter and summer dryland, irrigated cropping and fodder enterprise in the Riverina region of New South Wales 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
  • 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 and 3000ha of highly fertile, alluvial, self-mulching and soft loam cropping country.

Over the past 15 to 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.

Longview and Neroh, Qld

A tightly held Darling Downs irrigation and dryland cropping opportunity with improved grazing has sold separately to two local farmers for undisclosed sums.

The 497ha Longview is situated on the Condamine River and 263ha Neroh is north of Brigalow, close to Chinchilla in southern Queensland.

The 760ha feature fertile brigalow and belah alluvial self-mulching black and grey cracking soils that were managed as a single operation.

 

Combined, there are 385ha of reliable flood irrigated row cropping, 128ha of dryland cropping, 152ha of mostly improved grazing and 2200ML of on farm storages.
Longview and Neroh are underpinned by 4165ML of water allocations.

Longview has 4km of Condamine River frontage and with a good area of dry country and irrigation to grow feed, offers feedlot potential (subject to approval).

Improvements include large machinery sheds, workshops, a cattle yard and grain storage.
Leichardt Group agent Scott Kostecki handled the sale.

The Glen, WA

A neighbour and a Perth investor have joined forces carving more than 1000ha of farming and grazing country off The Glen in Western Australia’s renowned Great Southern region.

The 1652ha mixed dryland cropping and livestock breeding and finishing opportunity, 15km west of Katanning and 17km east of Kojonup, has been held by Carrolup farmer Rob Ladyman and his family for more than 100 years.

LAWD agent William Morris was unable to disclose the buyer or the price paid however when The Glen was listed in November last year, it was anticipated to command around $11,000/ha or $18 million as a whole.

Comprising 20 adjoining lots, the property benefits from fertile soil types and 477mm of average annual rainfall, providing ideal conditions to support crop and pasture growth.

The 1312ha of arable farming country is gently undulating with mostly grey sandy and shallow loamy duplex soils growing barley, canola and oats.

The Glen in WA’s Great Southern region has been sold by Rob Ladyman. Photo: LAWD

Over the past six years, crop production average yields achieved 4.1 tonnes per hectare of barley, 2.3t/ha of canola and 4.2t/ha of oats.

The balance of country runs 3000 ewes and followers, as well as 870 deer.

The Glen is watered by 33 dams and five metered scheme-water connections.

Infrastructure includes two homes, a workshop, a fertiliser shed, a five-stand shearing shed, sheep yards and 13 silos with a total storage capacity of 400t.

Wattle Grove, WA

A Perth investor has paid $2.25 million for a broadacre block in Western Australia’s northern wheatbelt, well under the $3.15m asking price.

The 3194ha Wattle Grove is located 35km from Binnu and 90km from Northampton.

The strong York gum country has a balance of mallee red loams, tamar sands and yellow sandplain soils.

Around 2846ha (89 percent) of the flat to gently undulating property is arable and suited to cereal, lupin, canola and rotational cropping or a wheat/fallow system.

Lupins growing on Wattle Grove at Binnu in WA’s Geraldton zone. Photo: Elders

There are large open and efficient paddocks for modern farming practices with the potential to further increase productivity with soil amelioration and pH adjustment.

The property has three bores, two of which are unequipped.

Wattle Grove was sold with a range of sheds, four grain silos, a four-stand shearing shed and sheep yards.

The sale was handled by Elders agent Courtney Keeffe.

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