THIS week’s property review includes a wrap-up of interesting recent listings across the country.

 Tasmania’s largest farm returns to the market

 Two stations on offer in far north-west NSW

 $60m+ for home of Binda Picnic Races

 Ch7 newsreader & wife list Southern Tablelands country

 Turnkey grazing asset in Central NSW returns to the market

 Canowindra’s Millambri running 10,000DSE

Tasmania’s largest farm returns to the market

Tasmania’s largest farm has returned to the market with industry sources suggesting it could make north of $100 million.

The 21,744 hectare Rushy Lagoon in the state’s far north-east is a grazing, and irrigated and dryland cropping opportunity.

It comprises two contiguous properties – 20,523ha Rushy Lagoon and 1221ha East Wyambi.

The property was offered for sale in March 2018 by the late Allan Pye, one of New Zealand’s richest farmers. It was anticipated to make $70 million, but was subsequently withdrawn following an extensive expressions of interest campaign.

The diversified farming enterprise is conducive to a range of agricultural pursuits including dairy, sheep, beef and cropping; potatoes, cereals, poppies, hemp, carrot seed, oilseed and legumes.

Currently, 1170ha are developed to irrigation (centre pivot) and there is a 693ha irrigated dairy platform offering significant scope for expansion. The property has an estimated carrying capacity of 85,000 dry sheep equivalents.

LAWD agents Danny Thomas and RMS Advisory agents Peter Ryan and Jarrod Ryan have been appointed to handle the sale.

Mr Ryan said further investment in pasture improvement, irrigation, paddock planning and stock water systems would significantly increase sheep and cattle numbers.

Mr Thomas said potential future income streams include lease payments from a proposed wind farm development, sand mining royalties and carbon offset payments.

Rushy Lagoon receives an average rainfall of 750mm a year and benefits from substantial water entitlements (12,548ML), on-farm water storages (3935ML) and a permit to construct an additional 2500ML dam. Infrastructure includes a 20-stand shearing shed.

Rushy Lagoon and East Wyambi are being offered for sale as a whole or as separate assets by expressions of interest closing on November 1.

Two stations on offer in far north-west NSW

Broken Hill-based Nutrien Harcourts agent Troy Hartman is marketing two stations in the far north-west of New South Wales.

Tarakan Station

Broken Hill’s Allison House, which until recently provided accommodation for high school students from isolated properties, is selling Tarakan Station.

The 40,469ha property is situated in the corner country, 50km from Tibooburra and 380km from Broken Hill.

Mr Hartman was unable to provide a price guide for Tarakan; however, in July 2022, the nearby 67,955ha Lake Stewart Station made $80/ha ($32.50/ac).

The property features a thriving rangeland grazing enterprise that has operated as a low-maintenance cattle breeding operation for the past 20 years.

Mr Hartman said the well-established business model has proven to be sustainable and efficient, allowing for the effective management of cattle in a natural environment.

The diverse and picturesque landscape comprises a mix of undulating ironstone and sandy ridges, and creeks lined with majestic gum trees.

There is a good body of feed after good rain over the last 12 months, including cannonball, copper burr, wooly butt, saltbush, blue bush and Mitchell grass.

The seven dams are described as a standout feature, supported by a 5000 gallon tank and 226mm of average annual rainfall.

Infrastructure includes an unequipped wool shed and cattle yards.

Registrations of interest for Tarakan close on November 12.

Mulga Valley Station

Western New South Wales landholders wanting to expand and South Australian producers seeking to add geographic diversity to their existing portfolios are showing good interest in Paul and Jane Martin’s Mulga Valley Station.

The 16,576ha property is located near Broughams Gate, 120km from Broken Hill, west of the Barrier Ranges and east of the South Australian border fence.

Mr Hartman was unable to provide a price guide for Mulga Valley; however, neighbouring country recently sold for $76/ac.

The Martins recently undertook considerable improvements to fencing and livestock handling facilities to develop the property into an easily managed Dorper breeding enterprise.

Mulga Valley has a diverse mix of native pastures, including Mitchell grass and salt bush, covering undulating sandy rises and box swamps along localised flood out areas.

Water is provided by three bores (two equipped), a substantial dam and numerous tanks.

It is being offered for sale by registration of interest closing on October 15.

$60m+ for home of Binda Picnic Races

The Carr family’s iconic pastoral enterprise and landmark holding in southern New South Wales has returned to the market with expectations of raising more than $60 million.

The 3860ha Funny Hill is situated near Binda in the Southern Tablelands region, 23km north of Crookwell and 67km north of Goulburn.

It has been continuously developed by the family since the 1860s and is home to the oldest country racecourse in Australia. The annual Binda Picnic race meeting is run annually in March and was first held in 1848.

Funny Hill was offered to the market in October in 2022. It is the largest contiguous landholding in the region.

With rich granite soils and highly improved pastures, the scenic tablelands country has a high percentage of arable land suited to perennial pasture establishment and fodder production.

Currently operated as a beef production enterprise, Funny Hill is equally suited to mixed grazing enterprises, such as wool or prime lambs.

The property is being offered for sale after 164 years of single family ownership. Owners James and Felicity Carr have been upgrading and improving the property since the 1970s, allowing them to transition from running 45,000 dry sheep equivalents to a 2200-head commercial Angus cow herd.

Inglis Rural Property CEO Sam Triggs said intergenerational assets of this calibre seldom come to market.

“Funny Hill is located in one of the state’s most sought-after and reliable districts.

“It boasts enviable scale, high-performing pastures and turnkey operations allowing for high labour efficiency and a cost-effective operation,” he said.

“Considered one of the beef production powerhouses of southern NSW, Funny Hill’s substantial and leading Angus herd is offered for sale as a going concern allowing continued operation and immediate cash flow,” Mr Triggs said.

Funny Hill is located in a reliable 763mm annual rainfall district. It has almost 10km of Crookwell River frontage, several permanent creeks and 64 dams.

It has a magnificent historic six-bedroom stone/brick homestead (c 1864), an old schoolhouse (c 1875), a 16-stand woolshed (c 1906) and the shearer’s mess and stables (c 1907).

Funny Hill will be offered for sale via expressions of interest closing on November 12.

Channel 7 newsreader and wife list Southern Tablelands country

Sydney Channel 7 newsreader Mark Ferguson and his wife Jayne, a non-executive director of Commonwealth Games Australia, are selling their picturesque sheep and cattle property on the New South Wales Southern Tablelands.

The 777ha Hazeldean is located 33km from Crookwell and 72km from Canberra. It is suited to any combination of store lamb, fine wool and cattle production.

The Fergusons purchased the property in 2015 and have invested significantly in improvements to pastures, fencing and water supply.

They have also upgraded livestock handling facilities and renovated the historic Hazeldean homestead.

Mr Ferguson said it would be tough to say goodbye to the property.

“I have loved the journey over the past 10 years but family priorities change and it is time to hand Hazeldean over to someone new.

“I am very proud of the improvements we have undertaken resulting in a very productive block.”

Based on recent sales of high rainfall grazing properties, LAWD senior director Col Medway anticipates the market to value Hazeldean at around $8.5 million.

“The property provides an ideal add-on enterprise for existing operators outside the Crookwell district who are seeking geographic diversity, or investors looking for a turnkey, hands-off rural investment.

“Hazeldean should appeal to a wide range of buyers, particularly given the improvements to infrastructure and the flexibility of enterprise,” Mr Medway said.

The property is capable of running 7650 dry sheep equivalents. It has a history of carrying 3000 Merino ewes joined to terminal sires for store lamb production and can run 150 cows on agistment in a weaner production system.

Complementing the area’s high annual rainfall of 783mm, Hazeldean is securely watered by 1.3km of double frontage to Phils River and 2.7km of single frontage to Berrells Creek supported by 25 dams.

Infrastructure includes an historic, fully renovated four-bedroom home, a four-stand shearing shed, steel sheep yards and numerous sheds.

Hazeldean is being offered for sale by expression of interest closing on November 7.

Turnkey grazing asset in Central NSW returns to the market

A turnkey grazing investment opportunity on the Central Tablelands of New South Wales is being reoffered to the market by the Forbes-based Johnston Rural Group.

The 1212ha Avalon West is located near Murga, between Eugowra and Cudal, and 70km from Forbes, Orange, Parkes and Cowra.

The well-developed mixed farm is being sold to rationalise a 21-year partnership.

Agent Sam Johnston said the country is looking like a picture.

“Pastures along the highly productive creek flats are carrying a good body of feed that typically run 350 cows and calves, plus breeding ewes, stud bulls and opportunistic trade stock (season dependent).”

Over the past two decades, the vendors have bred and backgrounded young cattle before selling them to feedlots.

The property is also home to a registered Angus stud that has been in operation for more than 15 years.

Around 323ha are arable and used for pasture improvement, lucerne production and/or fodder cropping.

Avalon West is located in a 600mm average annual rainfall region and watered by more than 4km of double frontage to the spring fed Reedy Creek, two equipped bores and 32 dams.

Mr Johnston said the property has excellent fencing (a significant amount has been replaced in the last six years) and user-friendly operating improvements.

Infrastructure includes two cottages, a three-stand shearing shed, sheep and cattle yards, numerous sheds and two silos with a total 100 tonnes of grain storage.

Expressions of interest for Avalon West close on November 14.

Canowindra’s Millambri running 10,000DSE

Also, on offer in the Central West region of New South Wales is the 1688ha grazing and dryland cropping platform, Millambri.

Millambri is located 13km from Canowindra and 36km from Cowra.

It is suited to cattle breeding and finishing, prime lamb breeding and finishing, fine wool production and cropping — canola, wheat and oats. The property has a carrying capacity of 10,000DSE.

The Belubula River and Canongle Creek flats grow lucerne and brassica for hay and fodder production and lamb fattening. The alluvial creek and river flats rise to undulating arable land and steeper grazing country with productive red volcanic soils.

Water is secured by extensive frontage to the Belubula River, creeks, 12 dams and a bore, supported by 756mm of annual rainfall.

Infrastructure includes two five-bedroom homes, a five-stand shearing shed, sheep yards, a shed, a workshop and a 100-tonne silo.

Millambri is for sale by expressions of interest closing on November 7.