Buyers unfazed by Covid

Buyers unfazed by Covid

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Rural properties are continuing to change hands and attract keen competition from buyers, despite the interruptions to inspections caused by Covid-related lockdowns and restrictions.

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Rural properties are continuing to change hands and attract keen competition from buyers, despite the interruptions to inspections caused by Covid-related lockdowns and restrictions.

Heading the roll-call of recent sales was that of Wing Vee, the historic Central Tablelands grazing property originally part of the Suttor family's Triamble Station.

Comprising 3865 hectares of basalt plateau and lighter hill country running down to a 13-kilometre frontage to the Macquarie River, Wing Vee (pictured) has been held since 2016 by the Sharwood family, whose pastoral interests have now shifted to Queensland.

The property was listed for sale late last year with David Nolan of Webster Nolan Real Estate in Sydney and Bill and Tyler Lawson from McDonald Lawson, Mudgee, and went to auction without result in November before being listed for private sale at $8.25 million.

It has now been sold for an undisclosed figure close to its asking price (with some livestock included), to an unnamed investor from the Central Coast who plans to further develop the property.

Situated near Hargraves, 62km west of Mudgee, Wing Vee has an estimated carrying capacity of 12,000-14,000 DSE and comes with a renovated five-bedroom homestead, six-stand Econo shearing shed and new Metalcorp cattle yards.

In another substantial pastoral deal, Webster Nolan in conjunction with Jake Smith of Elders Gundagai have sold the Walgett district property Belvedere to an unnamed Southern Riverina buyer.

Owned since 2011 as an outstation by Jeff and Jane Rogers of Colly Plains North, Quirindi, Belvedere is a 6820ha Western Lands leasehold with a 1705ha cropping licence.

The property has a 17km frontage to the Narran River, a rated carrying capacity of 4580 DSE and basic improvements.

Passed-in at auction in June, it was sold later for a figure 'very close to' its $235/ac ($3.9m) asking price, for what is believed to be a record for the Walgett district.

Meanwhile in the Central West, an on-line auction conducted late last month by Nutrien Harcourts Forbes resulted in two successful sales for listing agent Ainslie Toole.

Wing Vee went to auction without result before being sold close to the asking price of $8.25 million.

Edgecombe, a 72ha lucerne farm of self-watering river flats on the edge of Canowindra, sold under the hammer for $3.5 million to local landowners Anthony and Roslyn Dunhill of Mandurama.

Owned by Gary and Jennifer Grey of Kiama, Edgecombe drew inquiries from Sydney, the South Coast and tablelands areas.

The price works out at $19,663/ac ($48,567/ha) which is believed to set a record for the district, as it did 27 years ago.

Also sold under the hammer on the day was Marby, the 757ha mixed farming property held for 54 years by the Williams family and for sale now to settle the estate of the late John Williams.

Situated 62km west of Forbes in the Jemalong Irrigation district, Marby was formerly part of the 18,000ac Manna Station of stock dealer J.J. Leahy, and joins the present-day homestead block of Manna Station owned by the French family, who seized the opportunity to buy back that part of the farm.

It attracted seven registered bidders, expected to fetch between $2.75m and $3.5m, although no knockdown price was disclosed.


By PETER AUSTIN

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