One family’s succession planning decision could provide the entry opportunity for another family - or a keen investor - to a chunk of prime Liverpool Plains dryland farming country.
The opportunity has come about as a result of the Miller family’s decision to offload their “Overdraft Aggregation” near Mullaley, a 1511 hectare (3734ac) spread of choice cropland.
Carmel Miller and her late husband Don, with their son Cameron, bought the three-farm aggregation in 2013 from the Lush family (who still own an adjacent property “Dunadee”).
When purchased by the Lush family in 2007 from Swain brothers, it was a somewhat smaller aggregation of “Overdraft” and “Wyana”, to which the adjoining “Glenambro” of 213ha was later added, making up the area now for sale as “Overdraft Aggregation”.
The property has been listed for sale with Ian McArthur and Richard Gemmell of Elders, and will go to auction in Gunnedah on June 23.
The sale is seen as a timely test of values in a prime year-round cropping locality,
Although no price guide has been released, the sale is seen as a timely test of values in a prime year-round cropping locality, and interest is reportedly strong from local interests and investors alike.
Situated 30 kilometres north-west of Mullaley and 50km west of Gunnedah, the property is in the area known as Goolhi, where it started life as one of 30 soldier settler blocks from Goolhi Station in 1949.
Such was the reputation of the well-watered Liverpool Plains even then that the ballot for the 30 blocks, ranging in size from about 930 to 1900 acres (370-760ha), attracted more than 1700 applicants.
The block that would assume the evocative name of “Overdraft” (perhaps a title suggested by a witty bank manager, to keep his client focused!) was drawn by Albert Kite, from far-away Barellan.
Production in those early days of closer settlement centred on sheep and wheat, but today on “Overdraft Aggregation” it’s all about cropping the rich blacksoil plains that typify the country.
The heavy black or chocolate alluvial and cracking clay loams that make up 95 per cent of the property’s area are ideal for intensive year-round cropping and are utilised accordingly.
Winter cereals, sorghum, sunflower, canola and grain legumes are grown in prudent winter-summer rotations, using GPS and other modern technologies to maximise yields and conserve moisture.
The 2017 cropping season has started well, with about 300mm of rain so far recorded and good soil moisture levels, and the property is being sold as a going concern with all crops included.
Land now sown to winter crop includes 296ha of conventional wheat and 150ha of durum, 207ha of canola and 309ha of chickpeas. A further 293ha has been fallowed for summer crop.
Average rainfall is in the 600-650mm range and the property’s six bores (five equipped) supply water to the houses and stock troughs.
The aggregation comes with three dwellings, the main “Overdraft” homestead of five bedrooms set in established lawns, a four-bedroom manager’s residence and a three-bedroom cottage.
Working improvements reflect the property’s productivity and include three grain sheds, 21 silos of 1690-tonnes total capacity, a large steel machinery shed with high clearance, other storage sheds and a two-stand shearing shed.
- Agents: Ian McArthur, 0429 431 519; Richard Gemmell, 0428 164 672.
