Property

Weekly property review: Recently completed sales

Property editor Linda Rowley, March 3, 2021

Gwinganna, a 340ha grazing block in Victoria’s Western District has achieved a record $5.96 million, or the equivalent of $17,529/ha at auction

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

  • Record grazing price in Victoria’s Western District
  • Sth Qld breeding and backgrounding country makes $450/ha
  • Versatile Liverpool Plains block set for expansion

Record grazing price in Victoria’s Western District

A 340ha grazing block in Victoria’s Western District has achieved a record $5.96 million, or the equivalent of $17,529/ha at auction.

There were 19 registered bidders for Gwinganna, pictured above, which sold to a buyer from Gisborne for expansion.

Held for 32 years, Gwinganna is located 5km from Terang, a tightly-held district about 20 minutes from Warrnambool.

The property features scale, good soil types and reliable rainfall, and runs about 280 cows and calves.

Brian Hancock from Brian O’Halloran and Co. said Gwinganna exceeded price expectations, setting a new benchmark for district grazing properties.

“The end result didn’t surprise me due to the strong inquiry from locals, Victorian and interstate producers. There were 35 inspections over the five-week marketing period for the picturesque property which is highly regarded by locals,” he said.

Sth Qld breeding and backgrounding country makes $450/ha

Adam and Tiffany Black from Nebo have reportedly paid around $5.5 million ($447/ha) for Cunnyana, a south-west Queensland cattle breeding and backgrounding property.

Located 125km south of Mitchell and 130km north of St George, the 12,294ha block was described as easy to manage, low-cost country that can carry 1100 adult equivalents or 700 breeders and followers during average seasons.

It comprises soft red soils timbered with box, brigalow, sandalwood, pine, a small area of mulga and good levels of established buffel.

Cunnyana is watered by a new artesian share bore and 11 dams.

After 12 years of ownership, it was sold by Greg and Robyn Bryant and their son Doug and his wife, Sue, to enable succession planning.

Ben Forrest from the Resolute Property Group handled the expressions of interest campaign.

Meantime, the adjoining cattle breeding block Sylva Lee is still available for purchase for $2.295 million from Resolute.

The Mitchell property spans 5737ha of buffel, mulga, box, ironbark and pine country and runs around 600 adult equivalents or 400 breeders.

Sylva Lee is owned by a China-based logistics businessman David Dai, who recently sold the 52,245ha Cooladdi breeder enterprise Nimboy, a 52,245ha beef and carbon cash-flowing asset in south-west Queensland.

Mr Forrest said Nimboy is well grassed and now available for lease based on 800 to 1000 head of cattle.

Versatile Liverpool Plains block set for expansion

A family from Mudgee seeking expansion has paid $3.24 million or $6532/ha for Glenaladale on the New South Wales’ Liverpool Plains.

The 496ha versatile block is located 33km west of Quirindi and 90km south west of Tamworth, on the state’s North West Slopes.

Joel Fleming from Nutrien Harcourts said the new owners plan to operate Glenaladale as a mixed farming enterprise.

The country is suited to both grazing and cropping, boasting dark soil productive flats and lighter undulating loam country.

Glenaladale features pleasure horse infrastructure, a stud selling complex and cattle yards, and is watered by three bores.

The 496ha Glenaladale is located 33km west of Quirindi and 90km south west of Tamworth, on the state’s North West Slopes.

 

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