ULONGA Station at Hay - home of the famous One Tree Plain of song and verse - is bigger and better and back in play as the latest iconic Western Riverina pastoral property to hit the market this year.
The listing of "Ulonga" follows the recent (separate) sales of "Booabula" and "Caroonboon" at Wanganella, and reflects the heightened market interest in large-scale properties offering low-cost livestock production.
"Ulonga" in its present configuration is an aggregation of three properties put together since 2002 by owners Ben and Cate Barlow - fourth-generation farmers on both sides, and now looking at new directions.
Despite their rural roots, both have had other careers before returning to the land, Ben in an executive role with National Australia Bank and Cate as a trained midwife.
The latest "Ulonga" buildup began with the Barlows' purchase of the 8903ha "Lara", to the north of Hay, in 2002. To that they added the adjoining "Tarana" in 2006, and "Ulonga" itself in 2007.
This has created the aggregation now being offered for sale as Ulonga Station, comprising 31,267ha (77,229ac) and listed for sale by tender with Meares and Associates of Sydney and Landmark Deniliquin.
As such, it's a far cry from the 120,000ha sprawl that was Ulonga Station in the 1890s, when upwards of 80,000 sheep were mustered for shearing in the 52-stand woolshed for the then owner, T.F. ("Old Tom") Patterson.
Closer settlement in the early 1900s reduced the area as the property was in turn taken over by the Bank of Australasia, then A.T. Creswick followed by the Tyson family (who owned adjoining "Corrong").
In the late 1940s "Ulonga" was bought by the Circuitt family, under whose ownership the property built a name as the source of regularly market-topping Merino sheep at annual Hay breeders' sales.
When the present owners bought "Ulonga" (then 12,000ha) from Ted Circuitt in 2007, they bought the renowned Alma blood Merino flock as well, and now the same opportunity is available to an incoming buyer.
Tenders are being invited for the property on a bare basis, or with stock and plant included. A third option, of interest to off-farm investors, is a sale package incorporating ongoing management by the Barlows.
Either way, it stacks up as a formidable prize, given the property's proven capacity to generate annual returns of 10 per cent "plus" (from production and capital gain), and its potential for more intensive development.
The latter attribute stems from its ability to draw licensed water from both the Lachlan and Murrumbidgee river systems, as well as capturing the extensive overland flows that underpin its grazing profitability.
Situated 40 kilometres north-west of Hay, fronting the lower Lachlan River, "Ulonga" is a mix of open plains of native grasses and saltbush, floodplain areas of deep black soils, canegrass swamps and creeks.
It's the floodplain country, comprising some 7700ha or 25pc of the total area, which is the key to the property's drought defence and pastoral sustainability.
Its periodic inundation enables the other plain country to be tactically destocked for pastoral regeneration, and also allows for opportunistic extra earnings from cattle grazing - agistment of up to 1500 head.
Under present management "Ulonga" is operated principally as a Merino breeding enterprise, currently carrying 10,560 grown sheep with a general stocking rate that has averaged 35,000 DSE since 2007, but up to 45,000 DSE in post-flood seasons.
Flood waters are sourced variously from the Lachlan River (including regulated environmental releases), Mirrool Creek, other west-flowing creeks and overland flows.
The property comes with 1725 megalitres of water entitlements, and boasts a 190ML/year stock water reticulation system from the Murrumbidgee installed by the Barlows at a cost of $2.2 million.
Irrigation development is clearly an option for a future owner, and the property already has about 600ha of older-style irrigation layout, lasered and contoured, where 120ha of rice was grown in 2012.
Working improvements include three shearing sheds (all with five stands, and raised board), sheep and cattle yards, quarters for 14, sheds and silos.
The homestead, built for Osbert Tyson in the 1930s, is of timber and stucco construction with seven bedrooms, formal lounge and dining rooms, enclosed verandahs and large established gardens.
Tenders for "Ulonga" close on November 14, with offers for the property (bare basis) expected to be lodged in a range from $10-$12 million.
Contact Chris Meares, (02) 9362 8111, or James Sides, 0427 236 791.
Peter Austin
Former editor and long time columnist and property writer for The Land.
Former editor and long time columnist and property writer for The Land.
