Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, October 7, 2020

Pastures on Locksley, near Nyngan, include salines, herbages, clovers and Mitchell grass.

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

  • Gordon Welsh purchases adjoining Nyngan grazing properties
  • NSW Central West blue-ribbon country sells to a local
  • Southern Tablelands block sets a district record
  • Locals secure Wagga’s Woodleigh for expansion

Gordon Welsh purchases adjoining Nyngan grazing properties

Clark & Tait director and family member Gordon Welsh from Molong, New South Wales, has reportedly paid around $11.5 million ($1025/ha) for adjoining Nyngan district properties Locksley and Narran.

Earlier this year, Mr Welsh secured the 68,370ha Longreach cattle and sheep backgrounding property Bimerah (one of Clark & Tait’s prized central and western Queensland grazing assets) for an undisclosed price.

The marketing and sale of the 6830ha Locksley, 65km north Nyngan, was handled by Dubbo’s CPS Thomas Ballhausen & Irvine.

The separate expressions of interest campaign for the 4471ha Narran, 56km north of Nyngan, was undertaken by Nutrien Harcourts Warren.

Both agents said they were bound by confidentiality agreements not disclose the name of the purchaser or the prices paid.

Locksley

The country on Locksley comprises 50 percent red and 50 percent black soils. It is timbered with box, myall, wilga, supple jack and leopardwood. Pastures include salines, herbages, clovers and Mitchell grass.

The property, pictured above, boasts a 3km double frontage to the Crooked Creek, as well as a central bore running water to multiple troughs and a dam in every paddock.

The implementation of a new expansive watering system has meant Locksley is now operating at its optimum grazing capacity.

For the past 47 years it has been held by Peter and Christine McKid who have been running a MPM Merino stud breeding program.

Narran

The neighbouring 4471ha Narran features highly productive grazing country that grows an abundance of natural pastures in season.

It fronts the Duck Creek and is well watered by 10 dams and a bore that reticulates to a network of tanks and troughs.

One of the outstanding features is the fencing, with long distances renewed in recent years.

The neighbouring 4471ha Narran features highly productive grazing country that grows an abundance of natural pastures in season.

NSW Central West blue-ribbon country sells to a local

The production-driven blue-ribbon farm Murrumbah, in New South Wales’ central west, was passed in at auction for $3.6 million or $3625/ha at auction recently, but sold to a local soon after for an undisclosed sum.

Located 10km south west of Trangie and 80km to Dubbo, the mixed farming enterprise boasts highly productive grey self-mulching soils and deep red loams.

The 943ha block is suitable for cropping, sheep, wool, prime lamb and beef cattle production and are well-watered by equipped bores, dams and the Nine Mile Cowal.

Richard Gemmel from Elders, who handled the marketing and sale of Murrumbah, said the turnkey enterprise provide an agribusiness investment opportunity complimented by well maintained and appointed improvements.

Vendors Stephen and Louise Ferrari offered the property with an extended settlement to post harvest.

Mr Gemmell said Murrumbah attracted interest from mostly southern and local parties following a phenomenal turnaround in the season, coupled with the country’s intrinsic mixed-farming value.

The production-driven blue-ribbon farm Murrumbah, in New South Wales’ central west, was passed in at auction for $3.6 million or $3625/ha at auction recently, but sold to a local soon after for an undisclosed sum.

NSW Southern Tablelands block sets district record

Tannoch Brae, a productive parcel on New South Wales’ Southern Tablelands has set a new district record selling for $3 million ($15,625/ha).

The 192ha holding was expected to sell for more than $2.2m or $11,000/ha, with strong interest from Sydney, Canberra and local producers pushing the price higher. The successful purchaser was Tony Starr from Starrs Limousins at Young.

Located 10km south west of Yass and 80km north of Canberra, Tannoch Brae was being offered as a whole or two parcels via an expressions of interest campaign by LAWD.

The property has a history of running 2300 DSE, in a self-replacing cattle herd comprising 140 cows and 40 replacement heifers in a spring calving weaner production system.

Tannoch Brae, pictured below, is watered by 14 dams and a reticulated water system, supplied by a bore.

Tannoch Brae, a productive parcel on New South Wales’ Southern Tablelands has set a new district record selling for $3 million ($15,625/ha).

Locals secure Wagga’s Woodleigh for expansion

A farming family from Wagga Wagga has paid around the anticipated $4 million price for the cattle breeding and trading enterprise Woodleigh, in New South Wales’ south west.

Located 7km south of Tarcutta and 53km south east of Wagga, the 428ha block is currently running 360 Angus cows and calves, 114 Santa Gertrudis cows plus calves and 67 heifers.

The country on Woodleigh rises from creek flats to gently undulating granite hillsides, 70pc is arable or pasture improved, with the balance sheltered grazing land.

Tim Corcoran from LAWD described the result as very successful.

“There was good interest in Woodleigh, with the successful purchaser using the block for expansion,” he said.

A farming family from Wagga Wagga has paid around the anticipated $4 million price for the cattle breeding and trading enterprise Woodleigh, in NSW’s south west.

 

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