1130 hectares in the Goschen/Lalbert district went to auction on Friday, the first time in five years that substantial Mallee land has been offered for sale. And the price didn’t disappoint.
When Greg and Craig Fox took their four properties at Goschen to auction they were open to selling them in one line or as individual lots in order to achieve the best price.
After 20 inspections during the five week long campaign, there was no need to sell the lots individually, the demand was there for the full 2784 acres.
The hammer fell at $8.8 million or $3101 per acre, a record price per acre for Mallee country.
“The last major auction for substantial Mallee country was five years ago, and that was the property directly opposite this place. It made just over $1400 per acres,” agent Joe O’Reilly of BRC Agents said.
The agent reported that 95 per cent of the interested parties were locals.
“Properties are incredibly tightly held here, and when they are on the market they’re often purchased or leased by neighbours.”