Saturday, December 3, 2022

London-based owner selling South Australian farm

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Old North Bungaree
Old North Bungaree. Photo courtesy Australian Property Journal

A 678-hectare landholding in the Booborowie District in South Australia has entered the market.

Sitting in South Australia’s renowned Mid-North region, the mixed-use farm is being offered in one line or as two or three separate land parcels, making use of the five certificates of title.

Phil Schell and Angus Bills of CBRE have been appointed to manage the sale via an expressions of interest campaign, on the behalf of London-based vendor, with price expectations of $19,500 per hectare.

The segment of Old North Bungaree farm, sits 4km west of Booborowie, 38km north-east of Clare and 200km north of Adelaide and comprises 639km of arable land suitable for cropping or running livestock.

“This is a quality offering in the tightly-held Mid-North, and we’re expecting prices to approach $19,500 per hectare. The property features the characteristics of a highly-productive broadacre cropping platform, benefiting from scale, operational efficiency, fertile soils, idyllic climate and a desirable location,” said Schell.

The land includes a small amount of lucerne, as well as shelter belts and permanent water from two creeks, with the nearby Booborowie township receiving 437mm in annual rainfall.

The property is also supported by red and brown soil over red clay and includes a home with current tenants, a hay shed, sheep holding yards and two bores.

“We’re expecting interest from local land owners looking to expand their presence, producers seeking geographic diversity and corporate entities,” said Bills.

Prices in the Mid-North region of SA are currently being placed under pressure by local families looking to expand their operations in the diverse agricultural sector of the region.

“Buyer confidence in the state is on the rise, and demand is currently outstripping supply when you combine the family and corporate interest,” concluded Bills.

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