Fodder factory or stud with secure water

Fodder factory or stud property with secure water hits the market

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One of the largest irrigation farming aggregations to hit the market in the Hunter Valley for many years has been listed for private sale, presenting a raft of opportunities to water-conscious investors.

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One of the largest irrigation farming aggregations to hit the market in the Hunter Valley for many years has been listed for private sale, presenting a raft of opportunities to water-conscious investors.

On offer are the properties New Haven and Bureen, which face each other across the Hunter River near Denman in the Upper Hunter Valley, adjacent to two of the nation's premier thoroughbred studs.

Both are owned by Bill Hunter in the name of his company, Hynken Pty Ltd, which has hotel interests in the Hunter Valley and Central Coast as well as rural interests, including a property at Wybong.

New Haven, purchased in 2004, was previously owned by noted hay producers Ian and Justin Wolfgang, and Bureen was purchased the following year from Allan Almond.

Both are being sold now to wind up the owner's 17-year involvement in the rural sector, and have been listed for private sale.

Priced at $3.7 million for New Haven and $1.85m for Bureen, they are available for either separately or as an aggregation for $5.55m.

The offering represents a rare opportunity for an investor to acquire prime irrigation land and water entitlements in a region renowned for its long history of fodder production, fattening and horse breeding.

Immediate neighbours of the properties include the well-known Godolphin and Coolmore thoroughbred studs, and the properties now for sale lend themselves to similar usage, or as a stud fodder source.

Situated 10 kilometres south-east of Denman and 30km from Muswellbrook, New Haven and Bureen have direct Hunter River frontages of about 900 metres and 1.6km respectively.

New Haven, the larger of the two blocks, at 246 hectares (608ac), rises from alluvial flats to gently undulating country of rich red basalt soils.

About 200ha of New Haven is arable including 98ha under two Valley centre pivots, one of which grows oats, hemp and summer grass in rotation and the other lucerne and oats, producing hay for local horse studs.

The property comes with 462 water access licence (WAL) units to the regulated and historically reliable Hunter River, to which irrigators below Glenbawn Dam currently have a 95 per cent allocation.

Both properties have been managed for the present owner since purchase by Murray Richards, who now occupies the stylish four-bedroom brick-veneer New Haven homestead.

Set on a rise with views over the property, the homestead has formal lounge and dining rooms, reverse-cycle air conditioning, two wood heaters and heated flooring.

It is complemented by a three-bedroom brick-veneer cottage and extensive working improvements including hay sheds, machinery shed/workshop and steel cattle yards with 200-head working capacity.

Facing New Haven directly across the river, Bureen is a property of 100pc alluvial flats, traditionally used for lucerne or fodder production but well suited for fattening.

Although not currently set up with irrigation infrastructure, the property comes with 198 WAL units and has a solar bore delivering stock and domestic water.

The property has been ploughed and sprayed in readiness for the 2020 season and comes with hay sheds, machinery shed, silos, steel cattle yards and two cottages (currently rented for a combined $650/week).

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