THIS week’s property review includes this wrap-up of recently completed sales; a separate article on interesting recent listings across the country; and another on properties recently returned to the market.

• Scale sells in NSW’s Southern Tablelands
• Crookwell’s Pejar makes $6.5-$7.5m
• Nundle’s Tarwarri makes around $8m

Scale sells in NSW’s Southern Tablelands

A Sydney investor has paid close to $20 million for two adjoining properties spanning 1337ha on the Southern Tablelands of New South Wales.

Inglis Rural Property agent Sam Triggs, who offered the holdings via an expressions of interest campaign, was unable to disclose the price or the buyer but confirmed the transaction.

The two adjoining holdings, sold separately, were Gundowringa and Pejar.

Gundowringa

The sale of the 825ha historic holding ends 120 years of ownership by the Prell family.

Situated 17km from Crookwell and 32km from Goulburn, the well-drained granite and red basalt soils grow perennial pastures that can support 9000 to 11,000DSE.

When Gundowringa was offered to the market last year, Mr Triggs said the property’s profitability was underpinned by a diversified income stream.

“With 13 wind turbines and a substation, there is a (pending) 30-year lease agreement with an income stream of $226,800 per annum indexed at Sydney CPI,” he said.

Situated in a 750mm annual average rainfall region, Gundowring has extensive frontage to the Wollondilly River and 24 dams.

Improvements include a six-bedroom stone home, a four-bedroom home and three cottages, a circa 1900 eight-stand (three equipped) shearing shed, numerous sheds and steel cattle yards.

Gundowringa was offered to the market with an $11m to $12m price guide.

Pejar

The neighbouring 472ha grazing holding Pejar boasts 6km of Pejar Dam frontage and was offered for around $6.5m to $7.5m.

Situated halfway between Crookwell and Goulburn, the undulating country has fertile red basalt and well-drained granite soils growing improved perennial pastures than can run around 5500DSE.

As well as Pejar Dam frontage, the property has 1.5km of double frontage to the seasonal Pejar Creek and 1km of double frontage to the seasonal Gray’s Creek.

Water is also supplied by a 3ML water access licence and 23 dams.

Improvements include steel yards for cattle and sheep and three silos with 130 tonnes of grain storage.

Nundle’s Tarwarri makes around $8m

Another Sydney investor has paid around $8 million for the Nundle district holding Tarwarri.

Ray White Rural agent Riley Gibson, who handled the sale, was unable to disclose the buyer or the price paid, but the property did pass in at auction for $7.5 million.

The 1013ha holding is located in the tightly-held Garoo district, described as some of the finest cattle country in the area, 50km south-east of Tamworth.

It is close to a number of markets including the Tamworth Regional Livestock Exchange and beef and lamb processing facilities.

Tarwarri was offered to the market last year by Guyra’s Dave Carlon to consolidate his New England assets in northern New South Wales.

Around 80 percent of the gently undulating basalt soils are arable and grow fodder crops, including oats, sorghum and lab lab.

Tarwarri has a history of growing, barley, oats and sorghum and could be sown back to permanent pastures supported by seasonal fodder crops however, Mr Riley believes the highest and best use is breeding and finishing, with the operation rated to run around 500 cows or DSE equivalents.

Tarwarri is serviced by eight bores (four of which are equipped with solar pumps), three windmills and one electric submersible. There are 18 dams, as well as double frontage to both the Sandy and Benama Creeks.

Improvements include a four-bedroom home, two cattle yards, a woolshed, a machinery shed, a meat house, a cool room and two silos.