Eastern Hills, a commercial scale 971 hectare (2399 acre) property located in a premier high rainfall grazing region, has been listed for $16.5 million after it was put to auction on Thursday.
Offered by James and Belinda Lyon, the asking price is equal to about $16,993/ha ($6878/acre) or $22,000/breeder area.
There were four registered bidders at the auction held in Tamworth.
Eastern Hills has frontages to two roads, and is located 42km from Walcha, 77km from Tamworth and 77km from Armidale.
The property is estimated to carry 750 cows. However, the property is equally suited to any combination of beef, lamb and wool production.
The country comprises of heavy chocolate basalt soils with an extremely high-water holding capacity on the rising creek flats running through arable slopes to grazing hillsides.
The fertilised pastures include both improved and native perennial grasses and clovers pastures.
A 40ha area has also been developed as a potential centre pivot irrigation site.
Water supplies include a dual frontage to the Uriamukki Creek and numerous dams and an extensive trough system.
An estimated 100 megalitre dam is set up to gravity supply the potential centre pivot site.
Eastern Hills features a temperate climate and a reliable, annual average rainfall of 1089mm (43 inches).
There has been significant fencing development with hinge-joint netting on steel posts with end assemblies. This includes 3.15km of laneways and 18km of electric-wired boundary fencing.
Infrastructure includes a two stand, raised board shearing shed with undercover sheep yards, and 500 head capacity steel cattle yards, linked by the laneway system.
Eastern Hills has a renovated three-bedroom, two-bathroom homestead, plus additional accommodation options for staff.
There is also a machinery shed with a 500 tonne cool room and two bedroom accommodation.
Contact Simon Cudmore, 0433 160 413, LAWD, or Peter Etheridge, 0411 655 565, Etheridge Properties.