Bourchier family buys Sir Clive McPherson's Tarramia
The Bourchier family, which has extensive farming enterprises in the NSW southern Riverina, has bought the McPherson family's renowned Tarramia estate on Lake Mulwala for more than $10 million.
The 1994-hectare grazing and cropping property with its 150-year-old homestead and rich history was the final disposal in the estate of the late Marion Page, the daughter of the famed banker and pastoralist Sir Clive McPherson and Lady Sidney Orme.
Put up for sale last month for the first time in 60 years by the executors of Ms Page's estate, it was acquired by Andrew Bourchier and his wife Ann Marie.
It is understood the Bourchiers will use Tarramia, which has four kilometres of Lake Mulwala frontage, to expand their farming operations.
Mr Bourchier's late father Harry was reportedly one of the largest private landowners in Victoria, running a mixed-farming operation including cropping and beef.
Ms Page, who played a key role in running Tarramia after her mother's death in 1945, died in August 2015 at the age of 97.
Tarramia was sold by Nick Myer and Xavier Leslie from Elders Real Estate. Both declined to comment. Matt Childs of Pat Rice & Hawkins was co-agent.
The price was not disclosed but its understood Tarramia sold in line with market expectations of more than $10 million.
Sir Clive, who died in 1958, is one of Victoria's most revered agricultural and business figures.
A stock and station agent and then a Yarrawonga auctioneer in the early 1900s, he later joined auction house McPherson, Thom, Kettle & Co as managing partner.
The business prospered and Sir Clive began to acquire property in the 1920s including the family's rural homestead, Boomanoomana Station and Tarramia.
He was later managing director of pastoral house Younghusband Limited, chairman of the Australian Wheat Board and a director of both the National and Commonwealth banks. He was knighted in 1941.
The offering of Tarramia followed the 2016 sale of the family's three-property Botanica holding in South Yarra, which sold for $33 million to the founder of retail surfwear chain Surf Dive 'n' Ski, Fadil Sadikay.
Also in 2016, the family's extensive collection of art, silver, furniture, books and memorabilia were sold at auction.
– LARRY SCHLESINGER
‘BLAND CREEK’ SOLD
“Bland Creek”, the 1009ha West Wyalong district property listed for auction on April 5, has been sold by Col Medway and Richie Inglis of CBRE Agribusiness.
Owned by Colin Ramsay, his son Rob and their families, the property was passed in at auction on a vendor bid of $3.1m after bidding from the floor reached $2.5m, and was later sold by negotiation for $3.15m to neighbours Jock and Ros Weir and their son and daughter-in-law Sam Weir and Emily Watts.
The property is part of historic East Bland Station and was offered for sale to allow for a reallocation of capital within the family business.
Situated 21 kilometres west of Quandialla on the Bland Creek (to which it has a 7.5km double frontage), the property is described as top-grade farming country of self-mulching grey clay and red soils.
The new owners will have immediate access to the country west of the Bland Creek to commence winter crop planting, while the vendors will lease back the eastern portion for three years.
Structural improvements were limited to a set of cattle yards, thereby making the property an attractive “add-on” to an already-established neighbour.
The sale price works out at $3122/ha ($1264/ac) all up, or $3633/ha ($1471/ac) on an arable basis, which the agents say is consistent with recent sales of comparable country in the area.