In this week's Property Roundup:
Machinery mogul secures Liverpool Plains powerhouse
Size: 2,287ha
Location: Bundella, NSW
Sold price: $17.3m
A Chinese family operating under the Sydney-based Mooney Pastoral Company has sold one of its prominent agricultural properties, ‘Tuwinga’ to Cathrina Claas-Muehlhaeuser, the billionaire co-owner of one of the world's largest agricultural machinery companies.
Located on the southwestern foot slopes of the NSW Liverpool Plains, the property fetched $17.3m at auction on Thursday.
Ms Claas-Muehlhaeuser, chairwoman of Germany's CLAAS Group, who owns the property adjacent to ‘Tuwinga’, placed the winning bid of about $7,560/ha.
The Mooney Pastoral Company purchased ‘Tuwinga’ in 2018.
The property had not been offered on the market since it was originally settled by the Traill family in the mid-1800s.
‘Tuwinga’ has operated as a cattle breeding enterprise in addition to supporting high-yielding summer and winter grain and oilseed crops.
Its carrying capacity is estimated at 12,500-13,000 DSE or 850-900 breeding cows as a dedicated grazing enterprise.
Elders Real Estate Tamworth agents Chris Malone and Ben Green handled the sale.
Blackall backgrounder triples value in eight years
Size: 18,077ha
Location: Blackall, QLD
Sold price: $25.5m plus
Blue Sky Beef’s ‘Gowan Station’, located 70km south of Blackall, has sold to a Taroom-based investor after it was initially passed in at $25.5m.
The sale price is currently undisclosed, however, it is believed to have fetched more than $1410/ha selling through negotiation.
The property was formerly owned by Consolidated Pastoral Company (CPC), who sold the property to Blue Sky Beef in 2016 for $7.2m. The 2016 sale price equated to just below $400/ha.
The property has seven freehold titles and has the livestock carrying capacity of 3,000 Adult Equivalents.
The main complex includes a five-bedroom homestead, shearing shed, horse yards and stables.
Bruce Douglas and Andrew Turner from Ray White Rural and Wally Cooper from Rural Property & Livestock handled the sale.
New England novelties set to stun the market: More than 10,000ha up for grabs
'Romani'
Size: 7,404ha
Location: Kingstown, NSW
For sale price: EOI
More than 7,400ha of highly sought after country in the New England region has entered the market as ‘Romani’, located 67km west of Armidale has been listed for sale by Expressions of Interest. The property is to be offered as a whole or in three separate parcels, ‘Romani’ (2,950ha), ‘Pretty Gully’ (1,132ha) and ‘Bald Rock’ (3,322ha).
The vendor estimates the carrying capacity to be 16,000 DSE. The current management system manages 5,000 Dorper ewes on an eight-month lambing cycle with all lambs being finished on pasture or grain.
The property benefits from 2km of frontage to the McDonald/Namoi River, with the district receiving an annual average rainfall of 750mm.
Notable infrastructure includes Clipex cattle yards, a woolshed and two-sets of steel sheep yards and two new 600-tonne Twister silos.
Accommodation includes a four-bedroom main homestead, a four-bedroom second home, with the additional three-bedroom staff accommodation.
‘Romani’ is being offered by way of Expressions of Interest closing August 2, if not sold prior.
Andrew Blomfield of Pitt Son’s Real Estate is handling the sale.
'Glen Alpine Station'
Size: 3,855ha
Location: Werris Creek, NSW
For sale price: N/A
‘Glen Alpine Station’, a mixed cropping and grazing holding on the Eastern fringe of the Liverpool Plains has been listed for sale by Expressions of Interest.
Located 50km to Tamworth, 6km to Werris Creek, 25km to Quirindi and 384km to Sydney, the property supports winter and summer crops as well as forages with 1214ha dedicated to dryland cropping and grazing. The balance is a mixture of open and timbered grazing.
The semi-permanent Werris and Chinamen's creeks wind throughout the property, in addition to an annual average rainfall of 700mm (28 inches).
Situated by the ancient hills of an extinct volcano, ‘Glen Alpine Station’ is said to be “stacked full of potential ready to be restored to its former glory or taken in a different direction to a new future.”
The property is being offered for sale by Expressions of Interest, closing July 25.
Patrick Hurley of Rural Sales Australia and Simon Burke of Davidson Cameron & Co are handling the sale.
Citrus farm formerly part of a $115m deal returns to market
Size: 356ha
Location: Forbes, NSW
For sale price: N/A
‘Jemalong Citrus’ has been listed for sale by Expression of Interest as an established citrus orchard, focused on the production of Hamlin, McMahon and Salustiana varieties, providing full season production for both juicing and packing.
In 2019 Argentinian investors the Twynam Agricultural Group sold ‘Jemalong Station’, ‘Jemalong Citrus’ and ‘Merrowie Station’ in a deal worth $115m.
The Netherlands-based Optifarm acquired two of the three properties: ‘Jemalong Station’ and the adjacent ‘Jemalong Citrus’.
The farm has been extensively developed to irrigation 211ha via dual dripline with telemetry control, with the balance comprising dryland cropping and grazing/support land.
The property benefits from secure water entitlements including 1,300ML of Lachlan alluvial groundwater, 200ML of Lachlan River General Security water and 45ML of stock and domestic water as well as extensive frontage to the Lachlan River.
Additionally, there is the potential to further develop non-orchard portion underpinned by a 700ML bore approval.
For sale by Expression of Interest closing July 17, 2024.
LAWD directors Danny Thomas and Erica Semmens are handling the sale.
Land proves to be producers’ most valuable asset
The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) has released the preliminary estimates for the 2023 Farm Data Portal. It provides insights into the financial performance of broadacre, beef, cropping, dairy, sheep and sheep-beef farms.
A recent study by MLA reports land value has continued to rise despite economic downturns.
Producers are finding it harder to generate value as their capital, as land value continues to rise and profits reduced in 2023.
Operational efficiency cannot be achieved if profits cannot keep up with increases in land value, as this will inevitably decrease efficiency.
The data shows that the most valuable asset producers own is their land, as opposed to the business itself. Pic: MLA
