The Oaks changes hands for record $53 million in Great Southern region

In this week’s property round-up with Kylie Dulhunty, The Oaks has changed hands for a record $53 million in WA’s Great Southern, while a major Central West NSW holding is expected to sell above $10 million and repriced Murrumbidgee properties offer buyers scale, water and well-established infrastructure.

The Oaks changes hands for record $53 million in Great Southern region

Size: 5,313ha

Location: Dalyup, WA

Sale Price: $53 million

A premium 5,313ha (13,129 acres) Western Australian farming and grazing operation, The Oaks, has sold for a record $53 million, setting a new benchmark for arable land values in the Dalyup region near Esperance.

The blue-chip freehold asset in six titles, held by the Russell family for more than 50 years, is located about 40km north-west of Esperance and less than 20km from the south coast.

The sale equates to about $9,976 per hectare ($4,037 per acre), underscoring continued demand for high-quality, scalable cropping country.

Currently operated as a 70/30 split between cropping and pasture, The Oaks sits in a high-rainfall zone and comprises about 3,998ha (9,879 acres) of arable land.

While the property has historically supported both mixed farming and livestock production, it is understood the new Western Australia-based owners, Stott and Charmaine Redman and family, plan to develop the asset as an exclusively grain-focused operation.

The property features productive loam soils on undulating slopes and sand-over-gravel profiles across flatter country, with deep ripping to 500mm undertaken over the past three years to improve water infiltration and root development.

Five-year average yields have ranged from 1.5–2.5 tonnes per hectare for canola and 3.5–4.5t/ha for wheat.

In previous seasons, the property also carried about 4,420 Merino and 920 crossbred ewes, producing both fine wool and prime lambs.

With a 10-year average annual rainfall of 492mm, including about 360mm during the April-to-October growing season, infrastructure includes a centrally located six-stand shearing shed, a large machinery shed, and two residences, including a renovated Ravensthorpe stone cottage and a four-bedroom homestead.

Colliers agents Rawdon Briggs, Duncan McCulloch and Gabi Mewburn marketed the property along with AWN Rural’s Rowan Spittle.

Mr Briggs said The Oaks was a premium property and several factors combined to drive strong buyer competition.

“Its diversity of soil types, reliable rainfall, position and location within 40km of Esperence,” he said.

“We also marketed it as three parcels being available.

“It sold as one parcel but the market knew that we were able to break it up, so that drove the private interest and some institutional interest in the under bidders.”

Meanwhile, Colliers is also offering another large-scale Great Southern asset, Lake Shaster South, via offers to purchase on contract, with the campaign closing on January 29.

The 4,321ha (10,677 acre) broadacre cropping and livestock enterprise is located about 80km west-south-west of The Oaks, placing it within the same tightly held agricultural district.

The property comprises about 2,959ha (7,312 acres) of arable country, supported by a further 949ha (2,345 acres) of remnant vegetation and other land.

The non-arable component may offer potential for biodiversity offset use, providing an added point of interest for buyers seeking scale alongside environmental or diversification opportunities.

Given its land mix, size and proximity to recent record-setting transactions, the asset is expected to attract attention from both producers and investors assessing expansion or redevelopment opportunities in the Great Southern region.

The campaign comes amid heightened demand for premium Western Australian broadacre assets and underscores ongoing confidence in high-quality farmland with long-term strategic appeal.

Major Central West NSW holding expected to sell above $10 million

Size: 15,264ha

Location: Eremerang, NSW

Sale method: Private treaty

Price guide: More than $10 million

A large-scale mixed farming and grazing aggregation in central west New South Wales is expected to fetch more than $10 million, with a 15,264ha holding offering scale, water security and diversified income streams now on the market.

‘Black Range Station’, the property at 2880 Tallebung Rd, Eremerang, is located about 85km north-west of Condobolin in a well-regarded mixed farming and grazing district.

The asset is being offered for sale by private treaty, either as a whole or in two separate parcels, by Ray White Parkes, Forbes, Condobolin, West Wyalong, subject to subdivision and council approval.

The price guide has been set at $290 to $300 per acre, positioning the holding as a significant opportunity for producers and investors seeking scale across livestock and cropping enterprises.

As a whole, Black Range spans 15,264ha (37,717 acres).

Part A, located south of Tallebung Rd, comprises about 8,860ha (21,893 acres), while Part B to the north totals about 6,404ha (15,824 acres). The property includes an estimated 1,900 to 2,000 hectares of annual cereal cropping country.

The 2025 program featured about 1,215ha of barley undersown with a lucerne and clover mix, along with a further 810ha of wheat.

Improvements include a five-bedroom homestead, garage, seven-bay machinery and hay shed, a five-stand shearing shed with sheep yards, and purpose-built goat and cattle yards.

More than 42.5km of new internal, containment and exclusion fencing has been installed, while a modern, fully upgraded stock and domestic water system services the operation.

Water security is underpinned by a solar bore producing about 3,000 gallons per hour, two new drought-proofing bores drilled in 2025, 16 large surface dams, and tanks and troughs throughout the property.

Selling agent Paddy Ward said the holding had demonstrated consistent performance across multiple enterprises.

“Black Range Station is a well-developed farming and grazing powerhouse offering outstanding scale, infrastructure and income diversification,” he said.

“A consistent performer, the property has carried approximately 2,500-3,000 breeding Dorper ewes plus lambs plus 50-100 cattle, and 1,000-1,100 goats under containment, alongside a significant cropping program.

“With excellent water security, fencing, and further development potential, the property is offered for sale as a whole or in two separate parcels (subject to subdivision and council approval).” 

Repriced Murrumbidgee holdings offer scale, water and infrastructure

Size: 1029.5ha

Location: Wagga, NSW

Sale method: Private treaty

Price guide: Walteela ($19.9 million), Fletchers ($7.3 million)

The asking prices for two premium agricultural assets in the Eastern Riverina have been strategically repositioned, presenting what agents say is a compelling value opportunity for buyers seeking scale, water security and modern irrigation infrastructure near Wagga.

The properties, ‘Walteela’ and ‘Fletchers’, comprise a combined 1,029.5ha of high-quality irrigated and dryland cropping and grazing country, along with a standalone irrigation development opportunity.

Both holdings are underpinned by significant water allocations and substantial capital investment in efficient, large-scale irrigation systems.

LAWD Senior Director Col Medway said the pricing adjustment was driven by the vendor’s broader capital strategy rather than any change in asset quality.

“The decision to reposition the pricing reflects the vendors’ forward-looking capital deployment strategy,” Mr Medway said.

“Walteela is now being offered at $19.9 million and Fletchers at $7.3 million, which is a proactive commercial decision rather than a reflection of asset quality and represents an approximate 15 per cent reduction compared to the most recent neighbouring comparative sales.

“Less than two years ago, the vendors invested around $14,000 per hectare to convert 112ha of dryland to spray irrigation.

Now, the asking price indicates only an approximate $7,500 per hectare premium for the spray irrigation land compared to the dryland value.

“Along with the outstanding water security offered through both direct access to the Murrumbidgee Regulated River Scheme and Mid-Murrumbidgee groundwater entitlements, this presents a fantastic opportunity for interested buyers.”

Walteela spans 765.6ha and features 2.5km of frontage to the high side of the Murrumbidgee River, providing strong flood protection.

The property includes 192.4ha of spray irrigation under six pivots, with approvals and clearing in place for a further two pivots, while more than $1.8 million has been invested in operational infrastructure.

Water security is supported by 955ML of Mid Murrumbidgee Zone 3 groundwater and 635ML of general security river water, available to purchase at market value, along with average annual rainfall of 571mm.

The property includes a four-bedroom homestead, cattle yards, machinery and hay shedding, and grain storage.

Fletchers adds a further 263.9ha, with more than $1.7 million invested since 2021, including new pivots, bore infrastructure and a large hay shed.

Together, the holdings have produced up to 3,500 tonnes of irrigated fodder and carried an average of 500 joined cows and heifers over the past year.

The assets are offered for sale by private treaty, either separately or as a combined holding.

Kylie Dulhunty is a journalist with more than 20 years experience covering everything from court to health. Today, Kylie loves nothing more than turning market trends, industry insights and epic property sales - residential, rural and commercial into captivating stories.