The Oaks at Dalyup. Photo: Colliers

A LOCAL farming family has paid in excess of $50 million to secure The Oaks, a significant and strategically located mixed farm on Western Australia’s south coast.

Offered for sale after more than 50 years of ownership by the Malaysia-based Russell family, the 5313ha holding is situated 40km north-west of Esperance in the Dalyup region.

The registration-of-interest process was handled by Colliers Agribusiness agents Rawdon Briggs, Duncan McCulloch and Gabi Mewburn, along with AWN Rural’s Rowan Spittle.

Mr Spittle was unable to disclose the sale price, but said it exceeded the guide offered during the marketing campaign.

While he was unable to disclose the name of the buyer, he said the Hopetoun family would be expanding with The Oaks.

“The new owners are excited to continue the transition, undertaken by the Russell family, from a predominantly grazing property to 100-percent cropping country,” Mr Spittle said.

The Oaks attracted good interest from institutional to local buyers, and will settle after harvest.

Historically, the aggregation had operated as sheep and farming enterprise, with more than half the land under pasture.

However, during the past five years, the Russell family have increased crop production, and have adopted and deployed capital in advanced technologies, soil amelioration, and modern machinery.

This shifted the focus of The Oaks to a 70:30 split between cropping wheat, barley and canola, and pasture for fine wool and prime lamb production.

Over the past three years, deep ripping to 500mm has been carried out on 80pc of the 3998 arable hectares, featuring Dalyup loams on undulating slopes and sand-over-gravel profiles in flatter areas.

Fertiliser inputs are conservatively managed, with Esperance district five-year average yields of 1.5-2.5 tonnes per ha for canola and 3.5t-4.5t/ha for wheat.

When the property was offered to the market in May, the agents said The Oaks’ proximity to the coast provided a favourable environment for high-yielding crops and cost-effective freight.

“This location safeguards efficient grain logistics with quick turnaround times from CBH, and there is excellent road access to paddocks, with three main access driveways and a gravelled internal laneway network.”

The water facilities are extensive and include three river systems which run through the property, providing excellent drainage, as well as 30 dams and a comprehensive waterline supplying troughs and cup-and-saucer tanks.

Infrastructure includes three homes, a six-stand shearing shed, sheep yards, and a shed, as well as extensive fence replacement.

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