TWO properties in New South Wales sold in multi-million dollar deals feature in this week’s wrap of recently completed rural sales.

 Grazing enterprise between Sydney and Canberra makes $16m

 Walgett family pays $12.5m for Dungalear South

Grazing enterprise between Sydney and Canberra makes $16m

A farming family from Wellington in New South Wales’ central west has paid around $16m for one of the largest rural landholdings between the Sydney to Canberra growth corridor.

The 1782ha Bundong is in the Southern Tablelands, 38km from Goulburn and 81km from Canberra, and was once part of a larger pastoral operation spanning 12,000ha.

After more than 30 years of ownership, a Sydney investor brought the property to market late last year, targeting $18m to $20m.

Bundong has been run as a prime lamb, wool and cattle enterprise, and has been carrying a crossbred and Merino sheep flock alongside an Angus herd. It is rated to run between 10,000DSE and 12,000DSE.

Bundong has a mix of perennial pastures (including lucerne and phalaris), annual cropping (oats and barley) for finishing and hay production.

Country ranges from alluvial and sandy loams to brown granite rises, with a large proportion arable and well suited to cropping and pasture development.

The property has significant frontage to Lake Bathurst, and water is also supplied by two equipped bores and numerous dams. More than 2000ha encompasses a natural private lake known as The Morass.

During their ownership, the vendor planted 500,000 trees to provide windbreaks and shelter for livestock.

Infrastructure includes a prestigious circa 1888 five-bedroom homestead, widely regarded as one of the region’s most significant heritage properties, with sweeping views across The Morass and Lake Bathurst.

There are two renovated staff houses (a three-bedroom manager’s house and a two-bedroom staff cottage), a six-stand shearing shed, steel sheep and cattle yards, shearers’ quarters and numerous sheds.

The sale of Bundong was handled by Inglis Rural Property agent Sam Triggs.

Walgett family pays $12.5m for Dungalear South

After a spirited auction, Dungalear South in north-west New South Wales sold under the hammer for $12.5m to a local Walgett family looking to expand.

The 11,686ha grazing and farming operation comprises a mix of freehold country and a Western Lands lease. It is located 32km north of Walgett and 49km south of Lightning Ridge.

The property once formed part of historic Dungalear Station, which at its peak was renowned for shearing up to 100,000 sheep.

Dungalear South is typical of the Walgett district’ highly regarded western grazing country and features established stands of coolibah, myall and belah timber. Under the current ownership, the aggregation has been conservatively stocked with about 3500 ewes and followers.

During the marketing campaign, Hart Rural Agencies agent Charlie Hart was unable to disclose a price guide, citing limited comparable sales in the district.

After nine inspections and six registered bidders (three active on the day), Mr Hart said he was pleased with the result, noting Dungalear South sold above reserve.

Around 1468ha are arable. A further 278ha comprises cleared arable country, with an additional 234ha of cultivation country across permit and freehold land.

Water is secured via dams and the Dungalear and Bairnkine bores, supported by 450mm average annual rainfall.

Infrastructure includes an eight-stand shearing shed, steel cattle yards and a hay shed.