Auctions
Results
‘Elambone’ sells for $10 million to interstate buyers planning expansion in the area.
Farmers with big plans for expansion continue to purchase farms in the central west according to agent Ian Robertson from Land Agribusiness Water Development.
His latest example is Elambone, a 650 hectare property in Greenthorpe/Grenfell, New South Wales, which is about half an hour from Cowra.
The vendors took over management of Elambone 14 years ago.
“It had been run by the owner, who was based in Cowra and he owned the farm and leased the adjoining farm,” he said. “So it was set up a bit like a corporate farm, rather than a family farm, where all of the improvements were in the grain sheds, machinery sheds... The house is perfectly liveable but wasn’t the selling point of the property. Soil tests are really good, the aribility is really good and rainfall is excellent so that’s what sold it.”
The property recently sold in excess of $6000 per acre. “The new owners live interstate but they own other farming land in this area.”
Mr Robertson says there continues to be strong interest in the area.
“The amount of rural farmland turning over in the Central West area continues to be really strong.”
