The 3,480* hectare ‘Sylvania Aggregation’, in the Gunnedah/Boggabri region, is the latest major asset to be negotiated down in price to achieve a sale.
Originally listed for ‘in excess’ of $20m in September last year, the grazing and cropping property with 1450ha planted to wheat and carrying 800 mixed cattle and 340 breeders, has been sold within the revised price of $15-16.5 million. That’s a discount of between 17.5% and 25%.
The discounted sale comes a week after a $10m or 8% price drop for the 4,031ha Torrumbarry mixed dryland and irrigated cropping aggregation near Echuca. Listed last July for $60m plus, it now has a revised price of ‘north of’ $50m.
According to The Weekly Times ($), Sylvania was reportedly purchased by the Stoney Property Group for $13m in November 2021 from UK hedge fund manager Sir Michael Hintze’s MH Premium Farm group.
The property had been extensively developed by both MR Premium and Stoney, with a winter cropping program and perennial pastures with four stock and domestic bores, including a recently drilled bore yielding approximately 1,000 Gallons per hour.
One of the largest contiguous landholdings in the region since establishment, the property features chocolate self-mulching clays in the southern section with well-drained red loam soils prevail in the northern portion.
It has newly appointed quarters, two cottages, machinery sheds, a shearing shed, hay storage, silos, cattle yards, sheep yards, and a chemical shed.
Sold jointly by Inglis Rural and Elders, the property attracted “a wide buyer pool resulting in a competitive sales process,” according to Inglis agent Liam Griffiths.
The prizewinning Merino operation, Rosemont, is up for sale.
1200ha of Prime Crookwell sheep country offered as an aggregation
The turnover around Crookwell appears to be continuing with the 825ha Rosemont and 409ha Clovelly offered as an aggregation or independently.
Rosemont, operated by the Seaman family, is a prizewinning Merino wool operation with a 5,200-head self-replacing flock across 825ha, currently sown to 273ha of improved perennial grass and clover pastures. It features a four-stand shearing shed and adjoining steel sheep yards, steel framed machinery shed, steel cattle yards and two 30-tonne silos. It is listed at $8.9m.
Next door Clovelly, sitting on 409ha, is owned by former NRL chief executive Neil Whittaker and boasts four kilometres of Bolong River and creek frontage, with a carrying capacity of 3,900 DSE. It runs a self-replacing Merino flock, with a portion joined to Border Leicesters for first- cross ewes, then to Poll Dorsets for prime lamb production. It features a two-stand woolshed with new shearing machinery and three sets of sheep yards.
Clovelly is listed at $4.95m.
Both properties are available separately or in one line via LAWD.
Callemondah homestead
Victorian Western Districts properties on the move
The Weekly Times is reporting that a prominent Victorian family has offloaded a selection of mixed cropping and properties that were listed for a combined $7m.
The historic 258ha Callemondah was sold by Damian and Wendy Brady to an expanding local buyer, while another local purchased their 123ha cereals and oilseeds cropping Yorkies farm.
The Bradys’ daughter Meaghan, along with her husband Jarrod Blandford, also recently sold the 957ha Gracemere, near Bairnsdale, to Japanese multinational Sumitomo’s forestry division. The Weekly Times believes the property sold for $8m plus.
Also in the Western District, a 248ha property running 850 Merino first-cross ewes has hit the market. It’s 6km from Lismore and the property was set up for sheep/cattle breeding, backgrounding and fattening, but with an average annual district rainfall of 625mm, it would also work for cropping.
Expression of Interest by 29th Feb 2024 with Anthony Stevens real estate.
