Property

Three local Merino sheep and wool producers have acquired western Victoria mixed farming operation Buln Gehrin for more than $35 million combined. Located two hours from Melbourne and 15 kilometres from Beaufort, the 1,881-hectare holding is suited to wool, prime lamb, cattle and cropping and enjoys views of Mount Cole and Mount Langi Ghiran.

Australian farmland returns totalled more than 15% over the 2021 financial year, as the sector benefitted from strong seasonal conditions and commodity prices. The latest quarterly Australian Farmland Index from the Asian Association for Investors in Non-Listed Real Estate Vehicles (ANREV) showed income contributed 5.33% and appreciation return 9.36% to the total.

The 670-hectare mixed farm Yamminga Aggregation has been sold for between $9.5 million to $10 million to a family operating a farming, livestock breeding and finishing business in the NSW south west slopes region.

Adjoining blocks in Victoria’s Mallee district have sold to a first-time farmland owner at a virtual auction at what are believed to be record rates for dryland cereal farmland in the region. The 576-hectare Ouyen aggregation was split into two parcels, which sold back-to-back under the virtual hammer at 61% above the vendor’s reserve.

Gabrielle Duykers. A motion to conduct public consultation on the development of the North Parklands has been vetoed by Naracoorte Lucindale Council. At a meeting last week, Cr Craig McGuire moved that council undertake public consultation on the future use of the greater North Parklands, which is owned by the State Government. But in the end, even Cr McGuire voted against his own motion.

A consortium comprising the O’Hara, Laundy and Cruikshank families has extended their regional NSW hotels acquisitions run, snapping up the Springdale Heights Tavern in Albury off-market for $22 million. The consortium had just picked up the Sportsmans and Duke of Kent hotels in Wagga Wagga.

Moree's Royal Hotel has become the third pub in the New England region to change hands in the past 10 days, with purchaser Jim Knox making his second acquisition in the area among those. HTL Property has managed each of the sales, with the agency’s Xavier Plunkett brokering the latest deal via a buy-side mandate for established hotelier Jim Knox.

Grazing and cropping property Belvedere has sold for close to $4 million to a family of landholders from the Southern Riverina. Located 86 kilometres north east of Brewarrina and 95 kilometres north west of Walgett, the 6,841 hectare property is suited for fattening sheep, cattle and goats. It has open and flat Mitchell grass country with alluvial grey self-mulching soils and seasonal river flows that produce beneficial flooding. Belvedere features 17 kilometres of Narran River frontage and an artesian bore.

Stephen and Claire Schmitt from Southern Downs have paid $3.6 million bare for the fully operational  Mount Manning  grazing aggregation. Located 25 kilometres north of Warwick and 136 kilometres south west of Brisbane, the aggregation comprises the 426-hectare Mount Manning and the 362-hectare Mullins Block.

The 33,789-hectare land lease of Wendi Station, in the far west of New South Wales, has been bought by Angus Seekamp from close by Woolcunda Station for $6.05 million. Situated 20 kilometres from the Silver City Highway and 100 kilometres south of Broken Hill, Wendi Station is suited to both cattle and sheep and has been owned by Mark and Chris Eglinton for 40 years, who will now retire.