ONE of the best breeding properties in the Merriwa district has returned to market.
“Faversham” – an aggregation of its namesake property plus three others, “Montego”, “Chatham” and “Moona” – offers 5582 hectares (13,566 acres) of premium cattle country.
The property is the cornerstone of the Choi family’s vertically integrated agricultural company Crown State.
The company, which also owns the Binnaway abbatoir, bought the aggregation from Jim and Cherie Edwards in 2013.
Mr Edwards had built up the aggregation since 1960 when he started out on his own with a 400ha subdivision of the family’s “Throwley” property. He then added on portions of the former property of his ancestor, pioneering Merriwa pastoralist, J.B. Bettington, “Bridley Park”, as they became available.
The company’s managing director Jon Choi said they had decided to take “Faversham” to market to capitalise on the strong property values in the Upper Hunter.
“We’ve been surprised how well property prices have gone up the way they have,” he said.
While the Edwards ran sheep and cattle the Choi’s have run an F1 wagyu operation – selling their cattle to local feedlotters as well as Elders’ who, in the past, exported live to Japan.
They conservatively ran 1200 to 1500 breeders.
During the Choi’s ownership they have carried out improvements to fencing and the manager’s cottages where Mickey Rapley and his family have lived.
Rising from creek flats to gentle slopes and grazing hills of mostly red and black basalt, with about 340ha of cultivation, the property has a long history of pasture improvement.
Introduced phalaris and ryegrass pastures complement the native grasses and clovers, and the country has been receiving regular aerial topdressing since the 1960s.
Average rainfall ranges from 800 millimetre to 1000mm, and the property is watered by two creeks and a reticulation system fed by four equipped bores.
Timber on the property includes yellow box, apple box, white box and kurrajong along with some river oak.
The Faversham aggregation will be offered as one or in four separate parcels.
Tenders for the property are due in to selling agents Gavin Beard, Landmark Harcourts Scone, and Michael Burke, MacCallum Inglis, by May 31.
Recent sales in the Merriwa district have averaged $1500/acre.