THIS week’s property review includes this wrap up of recently completed sales in New South Wales and Western Australia.

 Three locals pay record price for WA aggregation

 NSW Southern Tablelands grazing makes $18m+

 Far western NSW station makes $7.1m

Three locals pay record price for WA aggregation

THREE local landowners have paid a combined record $52.5 million for one of the largest and most strategically located rural holdings in Western Australia’s Great Southern region.

The 11,262ha West Fitzgerald and West River Aggregation, midway between Albany and Esperance, comprised six properties offered by the estate of MP Slade.

With a capacity to crop and run high numbers of sheep, the portfolio includes the adjoining 1505ha Boccamazzos, the 1514ha Oakleys, the 3379ha Graingers, the 1631ha Bowlings, the 1516ha Dekkers and the 1716ha Fergusons.

A 1783ha portion of Graingers was withdrawn from the sale, with the estate electing to retain the land for lease.

The southern boundary of the aggregation neighbours the South Coast Highway providing transport access to regional service centres, processing facilities, export terminals and local CBH receival points.

No price guide was offered when the aggregation was launched in September last year, but Elders agent Simon Thomas said properties of this calibre and scale are rarely brought to the market.

He was unable to disclose the buyers but said the final sale price exceeded expectations and set a new benchmark for the region following a strong marketing campaign dominated by locals and neighbours.

On an arable basis, the 6426ha achieved $8169 per hectare ($3306 per acre).

The West Fitzgerald and West River Aggregation has been historically operated as a conservatively managed Merino sheep enterprise, running around 10,000 head.

The soils include duplex, gravels and clays with areas of lighter and lake country.

Across the enterprise 7781ha are arable, with the current cropping season growing 3280ha of barley and canola.

Infrastructure includes three residences, numerous sheds, several shearing sheds and sheep yards and several silos.

NSW Southern Tablelands grazing makes $18m+

A family with other holdings in the area has paid a district record for a premium mixed farming enterprise on New South Wales’ Southern Tablelands.

The 1367ha Inveralochy has been listed by the Maas family. It  is located near Lake Bathurst and 15 minutes from Goulburn and was purchased for more than $18 million.

After failing to sell via expressions of interest last year, Inveralochy was offered with a $17,292/ha ($7000/ac) price guide.

Raine & Horne Rural agent Nicolas Heath said the listing generated strong interest from local multi-generational farming families and international buyers.

“Demand for quality assets of this size and calibre remains very strong, particularly from those close to Sydney and Canberra.”

He was unable to disclose the buyer or the final sale price, but said the combination of scale, infrastructure and water security was key to the strong result.

“This is a blue-ribbon rural asset with ample infrastructure, multiple residences and outstanding water security, offering immediate productivity with long-term upside.”

Inveralochy runs around 4800 sheep and 400 cattle, with capacity for up to 850 cows and calves or 15,000DSE.

The property has healthy and productivity improved and native pastures with 62ha sown to wheat, 34ha to lucerne and 43ha to ryegrass.

Water is provided by two bores, 38 dams and 7km of dual frontage to the Mulwaree River supported by 650mm of average annual rainfall.

Infrastructure includes three residences, a six-stand shearing shed, sheep and cattle yards, numerous sheds and four silos with 364-tonnes of capacity.

Far western NSW station makes $7.1m

Willeila Station in far western New South Wales has sold under the hammer for $7.1 million (including plant and machinery) to the nearby McLeod family for expansion.

The renowned 28,985ha sheep and cattle breeding and finishing property is located 80km south-east of Broken Hill and 80km from Menindee, and was sold by the Johnstone family after 16 years of ownership.

Elders agent Marty Deacon said the marketing campaign generated strong buyer interest, with multiple offers received and inquiry from Victoria, South Australia and central New South Wales.

During their ownership, the Johnstone family conservatively managed stocking rates resulting in strong stands of native grasses and herbages, even during dry times.

Willeila has open plains and undulating red sandy soils and grey lakebed soils known for growing strong stands of native grasses and herbages that can support 3500 Dorper breeding ewes and 180 breeding cows.

Lake Nettlegoe provides 1214ha of lakebed grazing, while the Stephen’s and Redan Creeks offer valuable flood-out country suited to finishing prime cattle in season.

The property is watered by six bores, four of which are equipped, and five dams.

Infrastructure includes a five-bedroom home, a three-bedroom cottage, workers’ quarters, a four-stand shearing shed, steel sheep yards along with 3 additional outer yards, steel cattle yards and numerous sheds.