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The sale of Hill River set a record for a property sold at auction in South Australia in the 2021/22 financial year.
A 735.9-hectare (1818.41-acre) mixed farming and grazing property at Hill River, near Clare, sold at auction for $12.9 million in March, achieving $17,551 per hectare (just under $7100/acre).
Located 14-kilometres north east of Clare, the property was offered for sale by Kym and Donald Martin, with the Jaeschke family – Grant and Megan, Craig and Nicole and Rob and Lyn – the successful bidders on the day.
Ray White Rural South Australia’s Geoff and Daniel Schell conducted the sale on Thursday, March 17, with 13 registered bidders, however competition between three main bidders eventuated the sale.
Hill View offered both arable and grazing options with broadacre, hay production and livestock opportunities for interested purchasers, along with extensive improvements including a house, shedding, quality fencing, underground water via bores and solar pumps, as well as an airstrip and aircraft hangar.
The purchase will add to the Jaeschke family’s agricultural operations, also based at Hill River, which include mixed farming of livestock, poultry, hay production, cropping, grapes and wine.
Ray White Rural joint director Daniel Schell said Hill View offered the Jaeschke family a reliable addition to their portfolio.
“It ticked a number of boxes and really is an outstanding property” Mr Schell said.
“It’s a long-term reliable farming area with good rainfall and traditionally it’s been renowned as a very good farming region.
“It offered quality arable farming land, but the appeal of grazing land also, which then offered a genuine mixed farming property.
“It also had very good, useful farm infrastructure so when you put the three together, it certainly attracted considerable interest both locally, across SA and interstate as well.”
Moving forward, Mr Schell said there was continued strong demand for rural properties throughout the region.
“There’s really strong demand for all rural properties, particularly in good, reliable areas,” he said.
“When there’s strong demand it increases competition, which puts pressure on prices, and going forward I think that trend will continue.”
