NEW South Wales mixed farming listings, Kendorwal and Green Park Aggregation, show last year’s flood events and consecutive interest rate rises have not dulled momentum in the southern Riverina real estate market.
The 2289ha Kendorwal holding is suited to irrigated and dryland cropping, and runs sheep, and has attracted strong early interest arounda price point of $24 million.
It is located near the village of Bunnaloo, 37km north-east of Deniliquin. Kendorwal was purchased in 2016 by the Chinese-owned Xinyangfeng Fertilizer Company, which has invested significant capital in the property, including installation of five centre pivots, updating of infrastructure, and soil improvement.
Border Real Estate agent David Leeds said these investments have transformed the asset from an average cropping and grazing property into a high-yielding, productive mixed enterprise.
Alongside the infrastructure, the property has ample supply of water via a Murray Irrigation Limited main channel enhanced by a 770ML turkey’s nest dam.
Mr Leeds said “the proof is in the yields”, with Kendorwal producing nearly 6000 tonnes of canola, wheat and barley in total in 2022, and achieving yields per hectare of 10-10.5t for wheat and 4.5t for canola under pivots.
“They have also pushed out a lot of the old infrastructure, cleaned it up and made it a really viable cropping program,” Mr Leeds said.
Mr Leeds said the vendors have also invested in improving Kendorwal’s drainage, which paid off during the heavy rain and flooding that hit the Riverina last year.
“This block doesn’t flood, which is one of the absolute benefits of it.
“There’s been a fair bit of investment go into drainage, so not only did it not flood from overland flows, but the surface water from the sheer volume of rain we had didn’t impact the yields.
“If anything, the yields withstood the challenges of last year and were near record.”
Productive sheep enterprise
Kendorwal has recently carried approximately 1000 Merino ewes, but could accommodate more thanks to an extensive shearing shed and fenced feedlot-like area.
“The shearing shed is one of the features of the property.
“They do a lot of their drafting work undercover, actually in the shed, because of its size.
“There is also a containment area with six feedlotting paddocks, really well fenced, in the middle of Kendorwal.”
Mr Leeds said historically there has been a feedlot at the property, and the vendor was considering tripling the sheep population before bringing it to market.
Other improvements include 330t of grain and 70t of fertiliser storage, a machinery shed and two residences.
Mr Leeds said he has already fielded about 40 inquiries for the property and has conducted several inspections.
“Interest has been pretty solid.
“There has been a really big mix of locals, some from outside the district, and a couple of corporates.”
Kendorwal is listed for sale via expressions of interest closing 3 March.
Green Park a rare opportunity
The property of the late Angus Macneil AO, the 2868ha Green Park Aggregation, has come to market.
Located 12km west of Rand, Green Park has been in the Macneil family since 1931, and the aggregation has been developed over 90 years.
It now boasts five holdings: Green Park (1393ha); Romani (306ha); Burnleigh (316ha); Karimba (309ha), and Moolah (544ha).
Paull & Scollard Nutrien Ag Solutions agents Roger Bramley, Mike Scollard and Sam McCulloch and Elders Rural Services agents Nick Myer, Matt Horne and Henry Mackinnon are handling the listing on behalf of the vendors.
Mr Bramley said Green Park Aggregation was a rare property offering prospective buyers scale and versatility in a highly-productive cropping region.
“It has got scale in an area with [500mm average] rainfall; they don’t come up for sale very often,” Mr Bramley said.
“Angus Macneil was there for 60-plus years after his father died.
“He put a lot into the property; he put all the inputs in, everything from the fertiliser and spraying for crops is right up to speed.”
Mr Bramley said there has already been “good local and corporate interest”.
He said many potential buyers were attracted to the versatility of the property, which is currently 70pc cropping enterprise, with the balance running sheep.
Approximately 97pc is considered arable, with the current owners managing a 2020ha annual cropping program featuring wheat, barley and canola.
Green Park Aggregation has also carried 4000 breeding ewes, which graze on 712ha of improved pastures.
Both enterprises are supported by extensive infrastructure including 3450t of grain storage, machinery, hay and shearing sheds and two sets each of sheep and cattle yards.
Green Park Aggregation is offered for sale as a whole or as five contingent assets via expressions of interest closing March 16.
Farming key to Macneil legacy
A long-term contributor to the grains industry and the community of Rand, Mr Macneil died in September last year.
He was an ongoing member of the Grains Council of Australia, including holding the position of deputy chair, Grain Producers Australia and the NSW Barley Marketing Board.
Since 1962, Mr Macneil had a strong involvement with the NSW Farmers Association, and held various positions as a board member, regional chairman and chairman of the Corowa District Council.
He was named a Member of the Order of Australia in 2019 for service to primary industry and to the Rand community.