Property

Movement at the station: Recent property listings and sales

Linda Rowley, property editor, October 27, 2023

Spring Park, north of Young on the south-west slopes of NSW, has been running Merinos on improved pasture at a high stocking rate. Photo: LAWD

THIS week’s property review includes this wrap-up of interesting recent listings and sales in New South Wales.

  • Prell calls time on Gundowringa
  • Pejar comes to market
  • LAWD lists Spring Park, Rosemont, Oakdale
  • Prominent Cobar family expands with Wirchilleba

Gundowringa

Offered for the first time in 119 years, fourth-generation sheep producer Charlie Prell is selling the historic holding Gundowringa.

The 865ha property is situated 17km from Crookwell and 32km from Goulburn, and is being sold to enable family succession.

The well-drained granite and red-basalt soils are growing perennial pastures that can support 9000-11,000DSE.

 

Inglis Rural Property agent Sam Triggs said Gundowringa offered  a diversified income stream underpinning profitability.

“With 13 wind turbines and a substation, there is a pending 30-year lease agreement with an income stream of $226,800 per annum indexed at Sydney CPI.”

Mr Triggs said the agency has carried out a discounted cash-flow analysis to establish a net present value (NPV) of the income stream.

Mr Triggs said it is a developing market, so it is difficult to say how potential purchasers will respond.

“Early indications suggest the property will attract greater interest because banks are looking at cash flow, serviceability, and the ability to weather cyclical commodity and climatic cycles; turbines allow a buffer for that.”

Situated in a 750mm annual average rainfall region, Gundowringa has extensive frontage to the Wollondilly River and 24 dams.

Improvements include a six-bedroom stone home, a four-bedroom home, three cottages, a circa-1900 eight-stand (three equipped) shearing shed, numerous sheds, and steel cattle yards.

Gundowringa is being offered for sale via expressions of interest closing on November 30 and is likely to sell for between $11 million and $12 million.

Pejar

Inglis Rural Property has also listed the neighbouring 472ha grazing holding Pejar.

Owned by Sam and Alannah Gordon, Pejar sits halfway between Crookwell and Goulburn.

It boasts 6km of Pejar Dam frontage, and its undulating country has fertile red basalt and well drained granite soils growing improved perennial pastures.

Estimated to carry up to 5500DSE, Pejar has not been fully stocked since 2017 and is currently running 120 cows, 80 steers and heifers and 1500 ewes.

 

As well as Pejar Dam frontage, the property has 1.5km of double frontage to the seasonal Pejar Creek and 1km of double frontage to the seasonal Gray’s Creek.

Water is also supplied by a 3ML water access licence and 23 dams.

Improvements include steel yards for cattle and sheep and three silos with 130 tonnes of grain storage.

Pejar offers C3 zoning allowing for a multitude of agricultural or lifestyle pursuits, with possible additional income streams including subdivision, agritourism, ecotourism, agroforestry, aquaculture, boating, camping and fishing facilities.

Pejar is offered for sale by expressions of interest closing November 29.

Spring Park

The historic Spring Park, established in 1872 by Jim Tunney, is being offered for sale by Richard and Elizabeth Westmacott after 37 years of ownership.

Named after the springs that provided the stock with water, the 530ha property sits 21km north of Young and 55km from Cowra.

During their ownership, the Westmacotts have made significant investments to enhance the property’s operations.

“We have undertaken soil conservation work, planted hundreds of trees, and built the property up to the highly productive operation it is today, which is equally suited to any combination of sheep, cattle or cropping enterprises,” they stated.

Rated to support 13.4DSE per hectare, the vendors are conservatively managing a 1620-head Merino flock on improved perennial grass, lucerne and clover pastures.

Spring Park is 90pc arable and is well suited to sheep and cattle as well as cropping. Photo: LAWD

The gently undulating country benefits from well-draining, mostly red-brown earth soils with granite outcrops.

Around 90 percent (479ha) of Spring Park is arable, with the 2023 cropping program comprising 25ha of undersown grazing wheat plus 35ha of barley.

The holding is securely watered by 17 dams, natural springs and watercourses, with groundwater available via an unequipped bore.

Improvements include a circa-1888 six-bedroom stone homestead, a new four-stand shearing shed, a machinery shed, steel sheep yards, cattle yards and three grain silos with 190 tonnes of capacity.

Spring Park is being offered for sale by expressions of interest closing November 23.

Rosemont

The 825ha Rosemont is a well-appointed livestock breeding and grazing opportunity benefited by 732mm of annual rainfall.

Located 8km from Golspie and 36km from Crookwell, it is suited to pasture and crop production.

The country rises from fertile creek flats through to arable slopes and grazing hillsides.

The enterprise is currently growing improved and native pastures and running 1400 ewes and 60 cows and calves.

The fit-for-purpose operational improvements to support sheep and cattle enterprises include a four-stand shearing shed, steel sheep and cattle yards, a shed and two silos with 60t of total capacity.

Rosemount is listed for sale by expressions of interest closing November 30.

Oakdale

With a long history of cattle and sheep breeding, the 525ha Oakdale is well suited to wool production.

Located 22km to Yass and 91km to Canberra, the improved, undulating pastures can comfortably support 4250DSE.

Situated in a 682mm annual average rainfall region, Oakdale is watered by dams with extensive catchments and two creeks.

Oakdale is located in the Yass district and is for sale for $6.5M. Photo: LAWD

Improvements include a six-bedroom home, a two-stand shearing shed, steel sheep yards, steel cattle yards and numerous sheds.

Oakdale has been listed for $6.5M.

Wirchilleba

A prominent cattle, dorper and farming family headquartered south of Cobar is expanding its operations with Wirchilleba in central NSW.

The family is believed to have paid close to $5.5 million for the 8419ha mixed organic livestock grazing and dryland farming enterprise, located 53km north of Mount Hope and 111km south of Cobar.

The country on Wirchilleba is described as highly regarded soft grazing, with the fertile soils growing a variety of natives including copper burr, barley grass, cotton bush and clovers.

Wirchilleba is set up to run sheep and cattle as well as crop. Photo: Nutrien Russell Property & Livestock

The property is carrying a good body of dry summer grass, with winter herbage in abundance and supporting 850 cows and followers.

The well-developed, open cropping country is flat to slightly undulating with heavy red clay to sandy loams.

Wirchilleba has 2633ha of mixed organic dryland farming with 1200ha sown to lucerne.

Watered by eight dams, two bores and 9ML of water entitlements, Wirchilleba benefits from a 6km flow from the Burthong Creek.

David Russell from Nutrien Russell Property & Livestock handled the sale on behalf of the vendors Phillip and Vanessa Bell, who own the large-scale cattle breeding property Cooplacurripa Station in northern NSW.

 

 

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