THIS week’s property review includes this wrap-up of interesting recent listings, and a separate article of recently completed sales of note across the country.
- Mudgee’s Warragundi Aggregation has expectations of $20-$25m
- Goodooga’s Aberfoyle Aggregation expected to make around $6m
- Strong interest in Nyngan’s Belarbone
- Versatile smaller holdings offered near Casino
New South Wales
Just days away from spring, the large-scale Warragundi Aggregation, in the renowned Mudgee region, has hit the market with sale price expectations of between $20 million and $25 million.
The 5798ha mixed enterprise pictured above, situated on the banks of the Cudgegong River, comprises cattle, sheep, water and cropping operations. It is near the township of Goolma, 25 minutes from Mudgee and 15 minutes from Gulgong.
The aggregation includes a range of pastures and offers outstanding water access and fodder crops that have maintained a core breeding herd during extended dry periods.
Richard Royle from CBRE Agribusiness and Simon McKittrick from Logical Livestock Marketing have been appointed to market Warragundi on a walk-in walk-out basis.
“It is very hard to find a property of this size and quality in the Mudgee region, with most properties of this scale and size being subdivided to accommodate the high demand for rural lifestyle blocks,” Mr Royle said.
Mudgee is renowned for its rich agricultural land, cool climate wines, gourmet food and natural landscapes.
Mr Royle said the retiring owners, John and Sandra Harding, had done an excellent job in shaping Warragundi to what it is today.
“The vendors have been aggregating since 2008 and working hard to pasture improve the property. The plant, equipment and livestock, which includes 1400 cows and calves and 2500 merino ewes, will provide the successful purchaser an immediate income stream, turn-key business and seamless transition.”
Mr Royle said the aggregation could carry 25,000 DSEs.
“The stock have an outstanding reputation and their weightgains are above average for the region, which is testament to the water supply, quality of fodder crops and fertiliser,” he said.
Mr Royle said Warragundi would suit parties seeking a commercial agricultural enterprise, or land bankers.
After a 60 day off-market campaign, the aggregation is now on the market with expressions of interest closing on September 7.
Offers of more than $6 million ($400/ha) are expected for the large scale and improved Aberfoyle Aggregation, in New South Wales’ far north-west.
Located 34km south of Goodooga and 110km north of Brewarrina, the 15,271ha grazing operation consists of three adjoining properties – 6744ha Aberfoyle, 5213ha Julievale and 3314ha Pt Leander.
Newcastle-based David and Sue McMaster have owned the properties for 35 years but have been prompted to downsize due to the pending retirement of their long-standing manager.
Aberfoyle is being offered as a whole or as individual properties on a bare basis, however offers for a walk-in, walk-out package (including plant, equipment and livestock) will also be considered.
The soil types are a mix of 60 percent level black, with the remaining 40 percent red chocolate.
The country features Mitchell, coolah, neverfail, blue and Flinders grasses. There are large areas of winter herbage and bluebush, as well as soft burrs, goathead, salines, jelly burr and salt bush.
All three properties receive beneficial flooding to the black country and are dissected by the Birrie River, Yamba and Little Yamba Creeks. They are also well watered by 44 tanks and troughs fed by piped bore and dam water.
Aberfoyle is currently carrying 6100 ewes and young ewes and 236 stud rams. However, in better seasonal conditions, it can run 13,000 sheep and 300 cows or 1500 cows, plus 2000ha cropping sown to cash crops or feed.
Paul Kelly from Moree Real Estate said the Goodooga/Brewarrina region is well known for its naturally open grazing country.
“The aggregation would suit sheep or cattle producers seeking affordable grazing with scale. It is well-improved with 90 percent fencing, new machinery sheds, a new hangar and a fully renovated homestead,” he said.
The extremely dry conditions haven’t affected the region’s property prices. In March this year, Langboyd, a 9533ha Brewarrina grazing property sold for $3.3m ($346/ha), close to the price reportedly paid for the neighbouring Savanna.
Despite the poor seasonal conditions, there has been good interest from interstate producers seeking affordable grazing country.
Expressions of interest for the Aberfoyle Aggregation closes on September 28.
There has been strong local enquiry for Belarbone, boasting soft breeding country, in central NSW.
The grazing enterprise is being sold after nearly 100 years of ownership by Gavin and Jenny Green, who have decided to retire.
Well situated 70km north of Nyngan and 100km north of Warren, the 2668ha grazing enterprise was settled in 1925 by Albert Green.
It boasts 6.7km Gunningbar Creek double frontage that converges with 7km of single and 1.9km double Bogan River frontage.
Pastures include saltbush, copper and jelly burr, Mitchell and umbrella grasses, as well as cane grass on the river and creek flats.
Belarbone is timbered by myall, leopardwood, belah, whitewood, coolibah and box.
Phillip Wallace from Landmark Harcourts Nyngan said most of the enquiry had come from locals seeking expansion, but also a standalone property.
He said the soft breeding country had always been conservatively stocked – running 1200 ewes plus followers – which has enabled high lambing percentages and wool returns.
Belarbone is expected to sell for between $1.65m and $2m. It is being offered via an expressions of interest campaign closing on August 30.
Tony Flood from George & Fuhrmann Real Estate at Casino is offering two small holdings in northern New South Wales for $1.1m each.
The 103ha Boyters Lane at Swan Bay is versatile grazing and country with abundant water from troughs and dams, good fencing and stockyards. It is described as ideal country for when the rainfall is careless.
Mr Flood is also offering 432ha of grazing and breeding country at 1030 Avenue Road, Ellangowan which offers scope for lifting production through further pasture work.
The holding is well located – just 35km to major selling centre and abattoirs – and can run 175 breeders in a normal season on native perennials over laid with sub clover, Rhodes, kikuyu and setaria.
It is well watered by farm dams, a bore and a windmill with large supply tank reticulating to several troughs.