A FURTHER eleven Cobbora district farms have sold under the hammer at Dunedoo.
The farms, totalling 5,067 hectares, were owned by the Cobbora Holding Company.
Four farms didn’t sell at the auction, held on Thursday, where nine farms and six lifestyle properties were up for grabs. The sales totalled $12.69 million.
The sale formed the second round of auctions for the Cobbora Holdings which is owned by the NSW Government.
Selling agent Colin Medway, CBRE, said there was a good amount of competition at the auction.
“It’s fair to say the smaller size of the blocks that were offered were well received by the market,” he said.
A total of 39 registered bidders participated in the auction process.
Negotiations are ongoing for the sale of the remaining four agricultural properties and are expected to conclude next week.
The company’s chief executive officer, Richard Outridge, said he was pleased with the outcome of this round of auctions.
“We are looking forward to continuing to engage with potential bidders for the remaining agricultural properties,” Mr Outridge said.
