End of year sales pile up

Here’s what has (and hasn’t) sold in recent weeks:

“Kincora”, the 1613 hectare Gundagai grazing property held by the Archer family since taken up as a 720ha soldier’s block in 1922, has been sold by Inglis Rural Property for an undisclosed price in the $5-$5.5 million range.

Offered for sale by expressions of interest, the highly regarded Eastern Riverina property was sold to an unnamed southern farming family.

Selling agent Sam Triggs said the sale was in line with the upward trend in values for well-developed grazing land driven by improved livestock returns – and, in the Riverina, a scarcity of quality listings.

“Lakeview”, the Uralla grazing property of Cam and Lel Banks, was passed in at auction in Armidale last Friday by Elders Armidale and Webster Nolan Real Estate of Sydney, and is now on the market for private sale at $3.1m, with several parties showing interest.

Towal Creek Station, the Macleay River cattle property developed since 2008 by the late Phil Salter, was sold at auction earlier this month by Webster Nolan Real Estate and Kempsey Stock and Land for $4.9m to an unnamed northern NSW grazier.

The 2305ha Bellbrook property, carrying 700 Angus/Wagyu breeders, is about 50pc open grazing country and has a 6km frontage to the Macleay River.

Also sold under the hammer last week was “Mirrabooka”, the Taralga grazing property and rural retreat held by the Regan family since 1969.

Offered for sale at on-line auction by Meares and Associates of Sydney, the 238ha basalt-soil property attracted 13 registered bidders and sold to an undisclosed local purchaser for $1.4m, or $250,000 above the sale reserve.

In 1969 “Mirrabooka” was purchased by the late Bryan Regan, who in the mid-1970’s helped amalgamate the NSW Graziers’ Association and the United Farmers and Woolgrowers Association. Michael Regan was the most recent owner.  

Elders agents offered “Huntingdale” at auction on December 9 at Mudgee but the property was passed in at $1.5m. Two bidders from Sydney went head to head but didn’t make the property's reserve of $2m.

Elders Dubbo agent Denis McGrath said higher offers have since been received and more inspections have been booked.

The 1283ha place included a five bedroom home, wool shed, machinery shed, sheep and cattle yards.

The Bungendore grazing property, “Woodlands”, held for more than 150 years by the Hyles family, was sold in November by on-line auction Meares and Associates for $3.525m, well above the $3m reserve.

The 1157ha property is one of the few remaining large holdings in the area and offers scope for subdivision to cater for the demand for small farms from Canberra. Seven prospective bidders registered for the auction, which resulted in a sale to an undisclosed party.

Three registered bidders went head to head at the auction of “Keema”, Narromine.

Bidding started at $1.2m with the McFetridge family topping the action at $1.45m. The 644ha property cropping and cattle property was sold by Brian McAneney and Frank Power of Ray White Rural Dubbo.