A PRICE above $50 million is anticipated for one of South Australia’s best grazing properties, Mt Schank station near Mt Gambier, which is about to be offered to the market through expressions of interest.
The 2870ha (7100ac) property has been owned by only three families in the past 200 years and is expected to attract interest from Australia’s rich-listers as well as offshore investors. It could easily set a state record price for grazing properties if sold.
Regarded as one of the best and largest scale grazing holdings in the state’s south east, Mt Scenck is underpinned by close to 5000 megalitres of Ground Water Entitlement.
About 700ha of country has been developed to centre pivot irrigation, utilised for lucerne based pastures, fodder cropping and hay production, with occasional third-party use (short term leases) for potatoes and other cash crops.
The property is being offered walk-In, walk-out including more than 2000 Angus cows with calves (Rennylea, Te Mania and Landfall bloodlines) and heifer replacements, along with around 2500 composite ewes with lambs at foot. There is an extensive list of fit-for-purpose plant and equipment.
Carrying capacity in its current form is rated at more than 60,000 DSE, with potential to increase significantly with further irrigation development.
Marketing agent, CBRE’s Danny Thomas, described Mt Schanck as an “iconic, investment-scale asset.”
“It is incredibly rare for landholdings of this scale that have such a unique position in the history of Australian agriculture to be presented to the market,” he said.
Mt Schanck was purchased in 2005 for the Evans Family by the late Ron Evans, former chairman of the AFL, president of the Essendon Football Club and managing director of Spotless Group.
The property was secured in an off-market deal from the Clarke family, who had owned Mt Schanck for over 140 years, having purchased the property from the Arthur brothers of Van Diemans Land in 1861.
Located just south of Mount Gambier, the property is close to the Port of Portland, livestock saleyards at Mount Gambier and Hamilton and livestock processing facilities at Warrnambool.
The offering includes a stately four-bedroom, circa 1864 homestead set within manicured gardens, in addition to numerous additional high-quality staff residences, a circa 1875 six-stand shearing shed, shearer’s quarters and a set of near-new Prattley sheep and cattle yards.
“The property features a combination of extensively developed improvements, high quality soil types, excellent climatic characteristics and outstanding operational infrastructure,” Mr Thomas said. “The substantial Ground Water Entitlement of 5000 megalitres offers the opportunity to undertake significant further development of the property, including conversion to alternative uses such as irrigated cropping or dairy,” he said.
- CBRE’s Danny Thomas and Phil Schell have been appointed to conduct the sale via an international expressions of interest campaign.