A CROOKWELL district grazing property previously long associated with the Webster family of Binda will go under the hammer next month for the second time within six years.
But its early turnover is not a reflection on its performance – only a product of its owner’s changed circumstances.
The owner, Sydney-based lawyer John Moutsopoulos, has another property, “Ferndale”, in the district, but had recently bought more country elsewhere and “Garraroo” will be sold to free up funds for reinvestment.
“Garraroo” has been listed for sale by Colin Medway of Landmark Yass and will go to auction on August 28, with bidding expected to top $2.1 million.
Mr Moutsopoulos bought the property in 2008 after it was passed in at an auction.
The sale marked the end of half a century of ownership by Mary Laws, whose father, the late “Gundy” Webster, bought it for her in 1958.
It was previously held since at least the turn of the century by the Rodger family of Narrawa, the long ownership tenures (until this one) testifying to the property’s productive capabilities.
Comprising 686 hectares (1696 acres) of gently undulating granite-type country, “Garraroo” is a well-regarded grazing property with a long history of woolgrowing, and prime lamb and cattle breeding.
During its long ownership by Mrs Laws, the property was leased by Mr Webster’s son Garnet as part of a multi-property woolgrowing operation in the Binda-Bigga district numbering at its peak some 40,000 sheep.
Today, with carrying capacity estimated at seven-and-a-half DSE a hectare, the production focus is on Merino breeding with a prime lamb sideline, and cattle breeding, in conjunction with the owner’s “Ferndale” property.
Situated 13 kilometres from Binda with sealed road frontage, and less than three hours’ drive from Sydney, “Garraroo” is likely to interest an investor more focused on returns than lifestyle considerations.
That’s because while it does come with a three-bedroom cottage suitable for weekend accommodation, it doesn’t have a grand homestead.
All the spending by past and present owners has gone into working improvements.
Hence the property boasts a five-stand shearing shed with extensive steel sheep yards, new steel cattle yards with curved race and covered crush, lockable workshop/garage and new hay and machinery sheds and silo.
The present owner has also undertaken major upgrading of fencing and water infrastructure, the latter involving a reticulation system feeding eight paddock troughs to complement the property’s 15 dams and creeks.
Average rainfall is about 750 millimetres and the native perennial pastures are complemented by sub-clovers.
The 25 main paddocks carry a healthy scattering of shade trees – mostly yellow box, red gum and stringybark.
While “Garraroo” has been worked for more than a century as a supplementary holding to its various owners’ other properties, it also offers excellent potential home sites with sweeping views to the north.
Contact Colin Medway, 0428 481 243.
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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.
