THIS week’s property review includes this wrap-up of interesting recent listings across the country, and a separate report on recently completed sales.
- $100m anticipated for two NSW properties
- Two Mullaley holdings return to the market for $30m
- NT’s King River Station returns to the market
- Blue ribbon backgrounding in southern Qld
- Quality, country, water & security in central western Qld
- Nebo’s Morpeth seeks buyers to wind up succession
- Central Queensland bullock depot
- Productive grazing on NSW’s Southern Tablelands
- Drought proofing in NSW’s Riverina
$100m anticipated for two NSW properties
Offers around $50 million are being sought for an iconic mixed grazing and farming property close to Canberra, boasting an historic homestead.
The 3209ha Mylora is located 11km from Binalong and 30km from Yass on New South Wales’ Southern Tablelands.
Offered for the second time in its 170-year history, Mylora has long been recognised as one of the premier holdings in the district.
It neighbours the childhood home of Australian poet AB ‘Banjo’ Paterson who named his first published poem after the property.
Around 1410ha is running 7000 Merino ewes joined to Poll Dorset and White Suffolk terminal sires, 1500 Angus breeders and 1200 trade cattle in a Wagyu backgrounding program.
The 1800ha of productive red granite soils are growing dual purpose, grazing winter cereals (wheat and oats) in rotation with canola.
Owner Angus Graham, who has lived at and managed Mylora for the past 25 years, said the historic holding is experiencing an exceptional season.
“It is a beautiful mix of country ideal for breeding and also for finishing or trading livestock,” he said.
“The cattle and sheep feeding facilities provide drought security and the capacity to finish breeder progeny or expand into finishing stock.”
LAWD agent Col Medway said Mylora would appeal to a range of buyers.
“It could be a country estate for a buyer looking to appoint a manager, an existing local operator seeking expansion or institutional investors in search of a standout Australian agricultural asset.”
Mylora sits at the junction of the permanent Illalong and Jugiong Creeks and is also watered by three bores and more than 50 dams.
It boasts an historic, renovated, six-bedroom homestead (circa 1850s) overlooking River Red Gums along the Jugiong Creek.
Improvements include a 960 head cattle drought lot, 10,000 head sheep/lamb feed yards, cattle and sheep yards, an eight-stand shearing shed and hay and machinery sheds.
Mylora is offered for sale by expression of interest by LAWD and Delta Agribusiness, closing on October 12.
A diverse pool of buyers is anticipated to vie for a premium well-watered, mixed farm of scale within easy reach of Canberra and Sydney that is expected achieve around $50 million.
The 3838ha Willawong, near Murringo on the New South Wales south-west slopes, was aggregated over 35 years by the late Dr Jane Wallace, a University of Sydney academic and passionate farmer from Camden.
The improved pastures can comfortably run 40,000DSE and is currently stocked with 1000 trade cattle, 4000 wethers and 9500 joined Merino and crossbred ewes and replacements, turning off trade and store lambs.
Around 2888ha (84 percent) of the property has been sown to improved perennial grass and clover pastures, lucerne and winter crops including canola, wheat and barley – some of which is used for fodder.
The balance of 372ha is native perennial grasses and clover pastures, with the remaining 577ha being remnant timber.
Willawong comes with a 168ML groundwater irrigation licence and is securely watered by five bores through a reticulated water system, as well as three creeks and 85 dams. Improvements include six homes, sheep and cattle yards, three woolsheds, multiple machinery and hay sheds and silos.
LAWD agent Col Medway said rarely did a holding of this scale and versatility come up in such a tightly held grazing area.
“The successful purchaser will benefit from stepping into a well-improved, premium property complete with a circa 1850s homestead offering scenic views, local amenities and nearby saleyards.”
Willawong is being offered for sale by expressions of interest closing on October 19.
Two Mullaley holdings return to the market for $30m
After just two years ownership, a Singapore-based family office is selling its mixed farming opportunity spanning almost 5000ha in northern New South Wales.
A change of direction is cited as the reason why the Silverstrand investment fund is offloading the Wyuna Aggregation.
The 4942ha holding, pictured below, comprises two adjoining properties – the 3353ha Wyuna and the 1589ha Mount Nombi – which the fund purchased in July 2021 for around $26 million.
The aggregation is located 22km south-west of Mullaley and 60km south-west of Gunnedah on the western boundary of the renowned Liverpool Plains – long regarded as one of the state’s premier agricultural regions.
LAWD director Col Medway is anticipating around $30 million for Wyuna which also has potential for carbon offset and biodiversity pursuits.
“There is strong inquiry from parties interested in the property’s genuine mixed farming capability – meaning it is equally suited to livestock and cropping,” he said.
The mostly self-mulching basalt soils are currently growing 2100ha of winter and summer crops, including wheat, canola, barley, oilseeds, chickpeas and sorghum.
Around 2230ha (45pc) is set aside for cattle and sheep breeding and finishing, with 622ha of timbered grazing and remnant vegetation.
Water is secured from six equipped bores, as well as a number of permanent creeks and catchment dams.
Infrastructure includes six dwellings, including a five-bedroom (circa 1904) homestead, cattle and sheep yards, numerous sheds and grain storage.
The Wyuna Aggregation is being offered for sale in one line or as separate assets via an expressions of interest campaign closing on October 4.
NT’s King River Station returns to the market
After three years ownership, Nino Niceforo has listed King River Station in the Northern Territory’s Top End for $17.5 million bare.
The 42,360ha are located 40km south of Katherine.
It is the second listing for Mr Niceforo this year. In May, he sold the 60,200ha Middle Creek Station to Viv Oldfield for $16 million ($12m bare) including 4500 head of cattle.
When Mr Niceforo purchased King River in June 2020, the breeder block was comfortably running 2500 cows or 5000 young cattle.
With recent developments in water infrastructure and fencing, King River Station can now accommodate up to 4000 breeders.
Elders agent Alison Ross said given the highway frontage and easily accessible yards, it could also be a cattle trading block.
“King River is positioned just off the Stuart Highway offering year-round road-train access to southern, northern, eastern and western markets, enabling the incoming purchaser to take full advantage of wet season prices,” she said.
Water is supplied by permanent waterholes in the King River, which traverses the property, eight equipped bores and 12 tanks.
Improvements include cattle yards, a three-bedroom home and machinery sheds.
With adjoining properties cleared and planted to a range of hay crops, as well as tropical timbers, the incoming owner might be interested in using the country for mixed or intensive farming, Ms Ross said.
“King River has a 2500ha permit to clear and grow hay and dryland crops. Forage crops and hay have already been planted in some areas, as well as improved pastures for grazing, with the balance being currently cleared.”
Blue ribbon backgrounding in southern Qld
In southern Queensland, a blue-ribbon backgrounding property for a large-scale cattle operation is being offered for sale by retiring vendors Lance and Margie Fox.
The 10,074ha exclusion fenced Bona Vista is situated 70km from St George and halfway between Roma and Mitchell.
Held since 1997, the property is well located, close to markets and feedlots.
Elders agent Jon Kingston said there had been good inquiry from Queensland and southern New South Wales producers, with those from the Riverina seeking better value country.
“Bona Vista has good middle ground country that would suit producers wanting to bring cattle from the west to the east or from the north to the south,” he said.
Around 60pc of the country consists of self-mulching black soils, with the balance comprising lighter red loams.
The grasses are mostly buffel and Mitchell with some areas planted to improved pastures running around 2500 adult equivalents.
Bona Vista is divided into 18 paddocks all connected with a well-designed laneway system for ease of handling.
Timbers are largely brigalow and belah with a mix of myall, box, wilga, sandalwood and coolibah. There is a small area of mulga on its western boundary.
Around 2430ha of cultivation country has previously grown oats or improved pastures with 200ha currently prepared for leucaena planting.
Bona Vista is watered by an artesian bore and 16 dams.
The infrastructure is described as excellent and includes two homes, a machinery shed, two sets of steel cattle yards and an airstrip.
Bona Vista will be auctioned on September 21.
Quality, country, water & security in central western Qld
Family operators are likely to show strong interest in Will and Marcelle Chandler’s central western Queensland country which has been listed after eight years ownership.
The 15,346ha Linamar is located 47km south of Isisford and 120km south-west of Blackall.
The exclusion fenced property (except for the channel country which is protected by the neighbour’s exclusion fence) is conducive to breeding, growing and finishing around 800 breeders or sheep and/or goat equivalents.
Nutrien Harcourts GDL agent Andrew McCallum said four words summed up Linamar – quality, country, water and security.
“The diverse balance of country offers a natural smorgasbord of grasses, herbages, and salines suited to cattle, sheep and goats, which have been recently introduced,” he said.
The sweet pebbly country pictured below, features loamy undulating downs and areas of black soils that are heavy carrying. It is growing Mitchell and blue grass, Flinders and buffel, with a large percentage pulled over the last three years.
A new bore was put down in January 2021, delivering water to a large cooling tank that gravity feeds to troughs and tanks across the property.
This is supported by numerous sub-bores, dams and semi-permanent waterholes in creeks channels.
The infrastructure includes a six-bedroom home, separate cattle, sheep and goat yards with drafting and loading facilities, an eight-stand woolshed and various sheds.
Linamar will be auctioned on September 29.
Nebo’s Morpeth seeks buyers to wind up succession
Brendan and Anna Black have listed the Central Queensland bullock depot Morpeth to finalise a family succession plan after 30 years ownership.
The 4077ha block is located 60km south of Nebo and 155km from Mackay in Central Queensland’s tightly held Valkyrie district.
The mostly brigalow, blackbutt and coolabah scrub country has areas of sandy scrub soils and a small portion of black soil downs country.
Matt Beard from RBV said Morpeth was currently experiencing a good season.
“July rain has freshened the country up and it is carrying a good stand of buffel, bambatsi, native pastures, seca and desmanthus that can background around 1500 steers,” he said.
Mr Beard said as well as calibre of country, Morpeth features quality improvements and is well located to markets.
“It has a favourable vegetation map, well-planned fencing and numerous watering options which makes it easily managed, and that is why the bulk of the interest is likely to come from within 300km of the property.”
Situated in a 550mm long-term rainfall belt, Morpeth is securely watered by dams, bores and natural watercourses.
The infrastructure includes a six-bedroom home, a two-bedroom cottage, steel and timber cattle yards, various sheds and two silos with 150 tonnes of grain capacity.
Morpeth will be auctioned on October 20.
Productive grazing on NSW’s Southern Tablelands
A productive grazing operation in New South Wales’ Southern Tablelands has been listed by Calvary Pastoral with a $9.5-$10.5 million price guide.
The 630ha Everton Park is 31km from Crookwell and 65km from Boorowa.
The versatile country features a balance of creek flats to gently undulating rises with rich red basalt and grey loam soils.
In recent years, the vendor has established perennial pastures supported by significant inputs, including superphosphate and lime application.
The country has an 8000DSE carrying capacity but is currently running 2000 ewes and 150 cows.
Everton Park is situated in a winter-dominant rainfall area averaging 750mm a year. It is watered by 3.7km of double frontage to the permanent Wheeo Creek, a 20ML water entitlement, 20 dams and a bore.
Improvements include two homes, a five-stand shearing shed, hay and machinery sheds, steel sheep and cattle yards and 55 tonne grain silo.
Sam Triggs from Inglis Rural Property is handling the expressions of interest sales process closing on September 28.
Drought proofing in NSW’s Riverina
With the Bureau of Meteorology’s long-range forecast for spring showing below average rainfall is likely for most of Australia, along with warmer than usual temperatures, the listing of Werai Station’s in the southern Riverina is timely.
Owned by a Melbourne-based absentee landowner since the early 1990s, the 7493ha Werai Station near Deniliquin is described as a drought-proof property with secure water from three sources.
David Leeds from Border Real Estate said Werai Station is a mixed grazing and cropping powerhouse.
It comprises four adjoining properties – 302ha York Plains, 771ha Hoods, 961ha Bells and 5297ha Werai Station – that are being offered as one line or as separate parcels.
More than 2000ha of Werai is Certified Organic with the balance run in a conventional management regime.
The grazing country can run 800 breeders plus followers as well as Dorpers.
Around 680ha is available for winter and summer cropping programs and is currently sown to canola, wheat and barley.
Mr Leeds said the water portfolio includes more than 9000ML of water entitlements.
“In the irrigation district, the Barmah Choke is a section of the Murray River that naturally constricts to around 20 percent of its upstream capacity. This means producers living south of the Choke are prevented from receiving water.”
“Werai Station is unique because water is supplied by the northern branch canal (Murray Irrigation Limited main supply channel) and the Colligen Creek (river pump), as well as three bores,” he said.
Mr Leeds said Werai is a good hedge or safety bet for an incoming purchaser because if dry seasonal conditions hit, the incoming producer could carry a power of stock by irrigating.
The property fronts the Colligen Creek (an anabranch of the Edwards River) and the Niemur River, and has dual frontage to Gwynnes, Cooyeo and Kangaroo Creeks.
While no formal assessments have been undertaken, Werai has soil carbon potential.
Werai Station is being offered for sale by expressions of interest closing on October 31. While no price guide is available, nearby properties have sold from between $3700/ha and $5000/ha ($1500/ac to $2000/ac).