It’s been an unusually tough three years of low rainfall for New England graziers, and property listings have been comparatively thin as a result, but in the wake of recent rains the tide is starting to turn.
Buyers are circling newly-listed properties like “Elswick” at Walcha, confident that the worst may be over and that, once the weather warms up, better times lie ahead.
“Elswick” is the 749 hectare (1850 acre) property of Peter and Karen Reid, who are selling after four years to take on another project, and have listed the property for private sale with Jim Lyons of Jim Lyons Agency in Tamworth.
The property came into being as one of eight soldier settler blocks subdivided off Europambela Station after the Second World War, when it was drawn (then, as a block of 1624 acres) by Alex L’Estrange from Condobolin.
Such was the reputation of the “Europambela” country (particularly, at that time, for woolgrowing) that the ballot for the eight blocks attracted 789 applications.
Alex L’Estrange held the property for many years, establishing there the Elswick Merino stud, and by the 1960s he was running 3600 sheep and 150 head of cattle.
The production focus later changed to cattle, and before the Reids took over, previous owners Norm and Di Bazeley had Angus and Charolais studs on the property.
Under the present ownership, “Elswick” is managed principally as an EU-accredited cattle breeding operation, with a herd of Angus cows producing calves for sale at the annual Ray White Armidale weaner sale in May.
Steer calves from “Elswick” topped at $1150 at this year’s sale, while a pen of “Elswick” heifer calves won the champion ribbon at the pre-sale judging.
Situated in open, undulating grazing country of trap and basalt soil types 12 kilometres east of Walcha, “Elswick” straddles the permanent Apsley River, to which it has an unrestricted pumping licence.
Most of the property has established pastures of sub-clover, rye, phalaris and cocksfoot, topdressed over many years to maintain carrying capacity.
Although now lightly stocked following the drought, the property in normal seasons typically supports between 500 and 580 breeding cows and followers, plus 200 crossbred ewes and about 50 horses.
Average rainfall is about 900mm and a reticulation system supplies river water to paddock troughs, supplemented by 20 dams.
Working improvements include a three-stand shearing shed and steel sheep yards, a large set of steel cattle yards with under-cover working area (formerly the stud cattle sale barn), machinery shed and workshop and, hay shed and silos.
As an operating stockhorse stud, “Elswick” also boasts an equine complex comprising a four-box stable, indoor wash bay, arena and round yard.
The property comes with two homes (both in use), a main weatherboard homestead built in the 1970s and updated five years ago, with four bedrooms, two bathrooms and established garden. The second is a clad home of three bedrooms and two bathrooms.
“Elswick” has been listed for sale at a price of $4.2 million, which equates to $7000 a cow area at the property’s estimated 600-cow carrying capacity – a figure well within the range of recent sales.
