Another test of top-drawer Crookwell land values will occur this month with the offering at auction by Landmark Harcourts of the “Wytaliba South” property of Sydney businessman Ian Chambers. The highly-improved 202 hectare (500ac) grazing property is situated in the Roslyn/McAlister “dress circle” belt of the Crookwell district where it flanks the crest of the Great Dividing Range.
“Wytaliba South” was created by a 2004 subdivision of “Wytaliba”, a 490ha property then owned by Mal McDouall, who had bought it in 2003 for $2.5 million. Several owners earlier, “Wytaliba” had been owned for many years by the Stephenson brothers, who established the improved pastures and made a reputation as leading prime lamb producers.
The original “Wytaliba South” block as purchased by the present owner comprised just 130ha, but two subsequent purchases from McDouall, in 2007 and 2011, brought the property to its present size. Situated about 14 kilometres east of Crookwell and within 2.5 hours’ drive of Sydney, “Wytaliba South” is a property of level to gently undulating richly pastured country of granite and basalt loam soils.
Currently carrying 150 Angus cows with calves and heifer replacements, the property also has destocked paddocks locked up for hay or silage, to which a successful buyer will have early access. The modest 1980s brick-veneer homestead that came with the original block has been renovated and extended by the present owner into a modern four-bedroom home, set in established gardens with a tennis court and cricket pitch.
Subdivided into 17 main paddocks with virtually all new fencing and established shelter belts, the property comes with a large set of steel cattle yards and a high-clearance machinery and hay shed. Average rainfall is about 850mm, and the property is watered by 15 dams and a reticulation system fed by two equipped bores. “Wytaliba South” presents well following recent timely rains, and recent sales in the district suggest a likely price range upwards of $3 million when the property goes to on-site auction on November 16.
Auction successes
Average rainfall is about 850mm, and the property is watered by 15 dams...
SEVEN bidders registered for last week’s Townsend Real Estate auction of “Big Panuara” at Orange, which resulted in a sale under the hammer to an immediate neighbour at $3.9 million. The price equates to $9280/ha ($3757/ac) for the 420ha former soldiers’ block, now owned by David and Sandy Blunt, or just under the $3850/ac predicted by selling agent Stephen Townsend.
Two other properties previewed in The Land also sold at auctions last week, “Greenhills” at Woodstock and “Lone Pine” at Tarcutta, both co-listed by David Nolan of Webster Nolan Real Estate. “Greenhills”, the 1028ha grazing property of Sydney businessman Simon Kurtz, was offered in conjunction with James P. Keady of Cowra and sold for $4.275m or $4158/ha ($1682/ac). “Lone Pine” was one of two properties advertised for sale on account of Annette Tynan of “Birubi” at Wagga Wagga, following the recent death of her husband Michael.
Her home property, and base of the Tynans’ well-known Birubi Limousin stud, was sold prior to auction, but the 268ha “Lone Pine” sold under the hammer, for $2.12m or $7910/ha ($3192/ac). The identities of buyers in each case were not disclosed.