BOURKE, NSW, property Youngerina has sold at auction for $3.05 million, well above pre-sale expectations.
The sale price of the 25,506 hectare (63,027 acre) property is equal to about $120/ha ($48/acre).
Located at Yantabulla, 108km north west of Bourke, the property comprises of a 24,470ha of Western Lands Perpetual Lease, a 777ha Western Lands Conditional Lease (currently being converted to freehold), and 259ha of freehold.
Marketing agent Greg Seiler, Nutrien Harcourts, said five of the 13 reigistered bidders were active at the auction. Bidding started at $2.4 million, with pre-auction expectations having the sale price of the property at about the $40-plus/acre mark.
Offered by Dubbo-based Colin and Robyn Hood, the carrying capacity is rated at 5500 dry sheep equivalents or would run 500-600 cattle. Youngerina was also presented as an opportunity to invest in carbon.
The country comprises of sandy and sandy loam soils with stoney ridges, plus some stoney outcrops and ironstone gravel flats. There are numerous creek systems that run into box flats, swamps and flooded creek systems.
The property also features Youngerina Lake, which is part of the larger Denman Lake, and carries an abundant array of wildlife.
Livestock water is supplied from seven bores, five wells and five dams, with 23km of poly pipe supplying tanks and troughs.
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There are large areas of mulga and areas of pulled mulga along with box, beefwood, ironwood, and belah timbers.
Grasses include mulga Mitchell and woollybutt with crowsfoot, salines, soft, and edible burrs along with spinaches and salines. There is couch grass and clovers in the creek beds and on the flats.
Improvements include old shearers quarters in need of repairs, with power and phone connected.
The property is divided into four grazing paddocks. All of the fencing is said to have been constructed in the past 20 years.