A DREAM to buy an Australian farm was realised for one Chinese-based investor last week, at a price of $8.2 million for 1214 hectares.
The hefty price tag, which works out at $6754.5/ha, was for “Greenwich Park”, Marulan, and comes after a six-month settlement period.
It does, however, include a working operation of Merino ewes breeding first-cross lambs, a black Simmental/Angus herd producing hybrid sale bulls, and 40.4ha of irrigated lucerne flats to finish lambs and produce hay for sale.
It took a couple of years from when it was listed to sell, but previous owners, Tony and Laurelle Simpson, were pleased with the outcome.
“It was listed one week before the global financial crisis,” said Mr Simpson, also a partner in Simpson Partners Business Lawyers, Cronulla.
“Greenwich Park”, with its 1.5 kilometres of frontage to the Wollondilly River upstream from Warragamba dam, is thought to be the oldest operating farm on mainland Australia, which has retained its original size.
This suited its buyer perfectly according to the selling agent, Brian McMillan, Raine and Horne, World Square, who said his client was after a property in excellent order, but also steeped in history.
Mr McMillan said the new owner, who was based in China, worked in one of Shanghai’s largest investment companies, but had a long-held dream of owning an Australian farm.
“He personally has a passion in farms – that was his original discussion with us,” Mr McMillan said.
Plans are for the farm to run as a professional business, with existing manager, Brad Croker, to continue in his role.
“They’ve given me the reins and said run with it, so that’s pretty good,” Mr Croker said.
With the new owners still having interests in China, as well as their Sydney address, Mr Croker would oversee the increase of the sheep flock, which produces Border Leicester-cross lambs, from its present 1000 ewes to become two thirds of the operation, with the 300-cow black Simmental/
Angus herd to remain, as well as the lucerne hay production on the river flats.
He said the rotational grazing would be intensified, with further subdivision of paddocks and the pasture improvement program would also continue.
“Last year we spent more on pasture, fertiliser and weed control than the past five years,” he said.
However, this also coincided with the good rain, so has worked well.
As a result, the property has been in top working order, and its historic homestead and buildings were also renovated during its previous ownership.
“To finally get it over the line is excellent,” Mr Croker said.
Mr McMillan, whose business partner is based in China, said the location to Sydney and Canberra, its access to sealed roads and being within three hours to Sydney, were also important selling features.
“I’ve never seen a guy so passionate about owning an Australian farm,” he said.
“He’s going to continue the growth of what Tony started.”
