Upper Hunter opportunity

Upper Hunter opportunity

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A two-property grazing aggregation in the Merriwa district will go to on-line auction later this month, giving buyers the option of lodging bids for either on...

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A two-property grazing aggregation in the Merriwa district will go to on-line auction later this month, giving buyers the option of lodging bids for either one, or both.

The properties, “Parkway” and “Templemore”, are owned by the family of the late Keith Yore, Hunter Valley irrigation pioneer and founder of the Dapkos rural supply business, who died in 2017.

Mr Yore bought “Parkway” in 2001 and the nearby “Templemore” six years later.

He operated the two in conjunction for cattle breeding, backgrounding and fattening, however, each with its own resident manager.

As part of the winding-up of Mr Yore’s estate, the properties are now to be offloaded.

They have been listed for sale by Chris Meares of Meares and Associates, Sydney, and John Flood of Flood Rural and Water, Muswellbrook.

They will be offered at online auction on February 26-27 with the 1375 hectare (3398ac) “Templemore” expected to attract bids in a range of $5-$5.25 million and the 829ha (2048ac) “Parkway” from $3.7-$4m.

Features common to both properties are productive basalt soils, a 660mm rainfall, excellent stock water systems and fenced laneways.

“Templemore”, the larger of the two properties, is situated 19 kilometres north-west of Merriwa where it comprises three eastern-sloping sheltered valleys.

The property was one of the early selections in the district, and was held for the better part of a century by the family of the original selector, Patrick Costigan.

Rising from alluvial flats to well-grassed slopes and low hills, the property has rich soils of heavy chocolate and black basalt supporting pastures of native grasses and clovers.

Stock water is pumped from the Krui River – to which “Templemore” has a 1.1km frontage.

It is reticulated via storage tanks to 64 troughs across the property’s 21 main paddocks.

The property has an estimated carrying capacity of 6500-7000 DSE or 325-350 cows.

It is well suited to breeding or backgrounding of cattle and woolgrowing or prime lamb production.

In addition its river flats lend themselves to fodder or cash cropping, and an area of 150ha has already been prepared for winter oats sowing.

The manager’s residence is a three-bedroom weatherboard home with split system air conditioning.

It has recently been renovated, with new kitchen and bathroom.

Working improvements include steel cattle yards, a six-bay steel machinery/hay shed and a shearing shed and sheepyards no longer in use.

Situated about 6.5km to the east of “Templemore” as the crow flies, and 12km from Merriwa, is “Parkway”, a property of mostly gently undulating east-sloping basalt country with some rocky high points.

About 85ha of the property is arable.

The predominantly native pastures support an estimated carrying capacity of 6000-6400 DSE or 300-320 cows.

The property is subdivided into 15 main paddocks and two bores supply stock water to paddock troughs, supplemented by seven dams and two creeks.

Structural improvements include a three-bedroom weatherboard home, timber cattle yards and unused woolshed.

Both properties are carrying a good body of feed following much-needed summer rains, and both also offer scope for further development through pasture establishment and subdivision.

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