THIS week’s property review includes this wrap-up of recently completed sales, and a separate article on interesting recent listings across the country.

• New England asset makes $14.5m
• Local secures NSW grazing powerhouse
• NSW cattle producer expands with grazing & farming country
• Northern NSW trophy asset fails to sell at auction

Dungowan near Tamworth (see details further below) attracted strong interest from domestic and international investors, and producers from as far afield as the Northern Territory, South Australia and Queensland.

New England asset makes $14.5m

A highly regarded grazing asset in northern New South Wales’ New England region has sold to a Central Queensland family for $14.5 million.

The 2237ha Glanmire Station, 10km from Bundarra, 55km from Inverell and 65km from Armidale, was listed by the Coventry family in April with a $16m price tag.

Ray White Rural agent Andrew Starr was unable to disclose the name of the buyer but said they would add Glanmire to their existing portfolio and run a self-replacing Angus/Wagyu FI beef herd.

The country on Glanmire is gently undulating and open with well grassed and well sheltered paddocks with a high percentage of productive arable land.

During the marketing campaign, Mr Starr said the ideal breeding or backgrounding country is capable of running 16,000DSE or 900 head of cattle.

“With its reliable rainfall and kilos of production, the greater New England region typically attracts southern and central Queensland producers seeking to turn off heavy weight weaners,” he said.

“Glanmire is also suited to Wagyu production and there are many purebred and Fullblood operations in the area due to its reliable breeding reputation.”

The property also lends itself to further improvement through pasture improvement and forage cropping with the Coventry family planting more than 160ha of modern perennial pasture species plus clovers oversown with annual oats.

Glanmire features Gwydir River frontage, supported by the Two Mile Creek, a bore and several dams.

Infrastructure includes a three-bedroom cottage, steel cattle yards, a five-stand shearing shed and two sheep yards.

Local secures NSW grazing powerhouse

A grazing powerhouse on the south-west slopes of New South Wales has sold to a local producer for expansion.

The 3236ha Glencoe situated near Taylors Flat, 50km north-east of Boorowa and 80km south-east of Cowra, has been running 18,000DSE on improved and native pastures.

It was purchased in 2015 by former Woolworths chief executive Paul Simons and his family who also own Euralie near Yass where they breed superfine wool.

Originally, the property was home to three generations of the Hume family, including explorer Hamilton Hume.

Elders agent Richard Gemmell was unable to disclose the price paid or the buyer. However, during the marketing campaign he said Glencoe had been progressively developed to benefit from multiple income streams under differing seasonal conditions.

“Suited to sheep, cattle and pasture production, the property has sound agribusiness risk management and operational scale that will continue to deliver ongoing financial growth.”

The country is mostly central valley creek flats run to rolling timbered hills with alluvial soils and granite and deep red loams. More than 80ha has been sown to oats.

Situated in a 675mm average annual rainfall region, Glencoe is watered by 22 dams, three equipped bores, a creek and numerous springs.

The infrastructure is described as high quality and includes two renovated homes, staff quarters, a new shearing shed, sheep yards, machinery sheds, grain and fodder storage.

NSW cattle producer expands with grazing & farming country

Productive year-round grazing and farming country on the central-west plains of New South Wales has sold prior to auction to an out-of-district producer expanding his cattle breeding and finishing operations.

The 1751ha Merriwee is situated 52km north of Coonamble and 200km north of Dubbo in the Wingadee area, regarded for its cattle finishing and cropping abilities.

Suited to cereal cropping, pasture, sheep, wool, lamb and cattle production, around 900ha is arable with 243ha sown to wheat.

Elders agent Richard Gemmell was unable to disclose the buyer or the price paid, but said Merriwee achieved at the top end of recent district sales which have made between $2700/ha ($1100/ac) and $3200/ha ($1300/ac).

The country consists of mostly grey self-mulching and deep red loams with areas of beneficial flood country running into some heavy black soils.

Grazing paddocks are lightly timbered and growing winter herbage, clovers, medics and crowfoot. Summer grasses include Mitchell, button and windmill.

The property is watered by an artesian bore and dams.

Infrastructure includes a four-bedroom home, numerous sheds, a four-stand shearing shed, steel sheep and cattle yards and 440t of grain storage.

Merriwee was sold by Bowral-based Jim and Christine Norrie after two years of ownership to allow them to focus on other business interests.

Passed-in: Northern NSW trophy asset fails to sell at auction

A solid cash-producing asset in northern New South Wales has passed-in at auction for $7.9 million, with agents negotiating with interested parties unable to compete on auction day.

Settled in 1834, the historic 1612ha Dungowan Station is located 33km east of Tamworth and considered among the region’s most prestigious and unique properties, sitting alongside the larger Bective and Goonoo Goonoo Stations.

During the marketing campaign, Davidson Cameron & Co agent Simon Burke and Burke & Smyth Commercial agent Gavin Knee reported strong interest from domestic and international investors, and producers from as far afield as the Northern Territory, South Australia and Queensland.

The blue ribbon, mixed farming and grazing property also generates a guaranteed income from a brewery, a 150-seat function centre and three-bedroom cottage which are leased to hospitality operator, the CH Group.

During their six-year ownership, Campbell and Naree McIntosh (who are builders and developers by trade) have invested significantly into improving and upgrading Dungowan, including quality fencing and first-class water infrastructure.

The drought-proof property boasts 2km of double frontage to the permanent and picturesque Dungowan Creek and is watered by numerous dams and bores.

Two water licences are offered – 82ML of unregulated river and 480ML of continuing aquifer running three centre pivots, with planning and infrastructure for a fourth pivot to increase production.

The fertile alluvial and highly productive river flats are growing hay, lucerne and summer and winter cereal crops for finishing livestock.

The balance is open valley country set in undulating grazing hills rising to mountain ranges and capable of running up to 350 cows and calves.

Although currently run as a breeding operation, the agents claim Dungowan would also be an ideal backgrounding block.

Infrastructure includes a four-bedroom (circa 1903) home, two steel cattle yards and numerous sheds.