A Riverina farm, spanning more than 43,300 hectares, has been sold for the first time in 20 years.
Owned by two families, Glen Emu Station has been sold at auction for a record $16.1 million.
Pastoralists Bill and Pip Ryan who are based at Curragh purchased the property. They recently sold two of their other properties Tooracoll and Woolaway.
Selling agent Peter Robertson said it was sold on a per acre basis at auction.
“We marketed it at that level and we sold it at $150.50 per acre,” he said. “Bill and Pip Ryan have quite a few holdings already in the area.”
The station is made up of four adjoining properties 'Glen Emu’, 'Ettrick', 'Llanover Downs' and 'Glen Dee'. They were sold together despite individual contracts being drawn up. “The previous owners were a partnership who gradually bought all four properties over the past 20 years” Mr Robertson said.
Glen Emu Station is currently carrying between 8000 and 8500 breeding ewes, but it is rated by the Local Land Services to run 18,000 DSE. The property has 23 main paddocks with a central laneway system to stock handling facilities. There is a modern four bedroom, two bathroom home on the property and a second large homestead suited for guests or workers.
Glen Emu Station is described as having a healthy mix of annual and perennial salt bush, blue bush, trefoil clover, grasses and native herbage.