Like every other property in the vicinity – and most of inland NSW – Coorabong at Dubbo is looking pretty parched right now, but that’s no reason for would-be buyers to pass it by.
Some of our canniest pastoralists have many their fortunes by buying properties in the depths of drought, knowing that whether it rains tomorrow, or in six months, the turnaround will surely come.
And when it does, markets will strengthen, buyer competition will ramp up, and an altogether different mood will prevail.
Coorabong is a 852 hectare (2106ac) mixed farming property owned since 2012 by Brad and Katie Cox, who are selling now to consolidate around their home base property Rosewood”, which is about 20km to the north.
The property has been listed for sale with Jason Hartin of Hartin Schute Bell Narromine and Greg Moncrieff (Katie Cox’s father) of Moncrieff Livestock and Property Condobolin, and will go to auction in Dubbo on April 5.
Situated 30 kilometres north-west of Dubbo and 34km north-east of Narromine, “Coorabong” is described as level, open and arable country of mostly fertile black/grey soils with some red.
It was previously owned for nearly a century by the Tink family, who bought it in 1922 from the Strathorn family. During its Strathorn ownership the property was home to a pure Wanganella Merino stud.
Under present ownership, Coorabong has been managed as a mixed farming operation, carrying between 1000 and 1500 ewes in conjunction with a farming program of 400-500ha.
Crops grown have included wheat, oats, barley, canola and chickpeas, with cereal yields typically ranging from 2-5 tonnes/ha according to the season.
Although things are now dry, the property presents well and an area of 720ha has been worked up in readiness for winter crops.
Average rainfall is 550mm and the property is watered by six dams (three of them new) supplemented by a bore.
Much of the fencing has been renewed and the property is divided into 12 main paddocks, with a fenced laneway servicing some of them.
The homestead, built in 1963 for the Tinks, is of rendered brick construction with four bedrooms and open-plan kitchen and living area with polished cypress pine flooring.
Internal features include a modern kitchen with Caesar stone bench tops, island work bench, a five-burner gas cooktop, a Belling electric oven, split-system and evaporative air conditioning, and gas and slow combustion heating.
At the rear of the house is a large, covered entertaining area and in-ground saltwater swimming pool, plus a coolroom.
A second brick-veneer home with four bedrooms has been providing useful rental income.
Working improvements include a three-stand shearing shed with steel sheep yards, steel cattle yards, two machinery sheds, a 500-tonne grain shed with skillion workshop and three cone-bottom silos.
Recent farmland sales in the area have seen prices paid on the high side of $5000/ha ($2000/ac).
