Palgrove expands into southern NSW with Gilgal purchase

Liz Wells, Grain Central., February 19, 2020


Gilgal at Cootamundra has been sold by the Ward family to Palgrove. Image – Inglis Rural Property

QUEENSLAND-BASED beef seedstock and commercial operation Palgrove has moved into southern New South Wales with its purchase of the historic Cootamundra holding Gilgal.

Gilgal is Palgrove’s first property in southern New South Wales and supplements the capabilities of the partnerships Queensland and northern NSW holdings.

The 3619 hectare property is situated 11 kilometres south of Cootamundra and was offered by the Ward family. It was marketed exclusively by Inglis Rural Property.

Palgrove general manager Prue Bondfield said Gilgal’s annual average winter-dominant rainfall of 600 millimetres, other features, location and enterprise mix made it an ideal fit.

“It had everything we wanted.

“We always look at opportunities everywhere, and certainly in that eastern Riverina, we’d been wanting some country with a different rainfall pattern where we could have different joining times,” he said.

Mrs Bondfield said Palgrove intended to “keep the status quo” at Gilgal, and would continue to run Angus breeders and grow crops in a proven and practical mixed-farming system.

“Whilst it’s a prize place, it’s not a trophy place.”

Landmark Gilgal offering generated wide enquiry

Dual purpose crops form an important part of the production mix on Gilgal. Image – Inglis Rural Property

The holding, which includes Gilgal and the adjoining Winona and O’Connors properties, was sold for an undisclosed price via an expressions of interest campaign conducted by Inglis Rural Property sales manager Sam Triggs and director Jamie Inglis.

The total parcel was marketed as having a dry-sheep equivalent (DSE) of 34,000-38,000 in average seasons, along with dual-purpose cropping. It attracted 53 inquiries and 22 inspections.

“This is a landmark sale in the Cootamundra district following 150 years and five generations of single-family ownership,” Mr Triggs said in a statement.

“The Palgrove partnership is an example of the progressive rural land ownership models now being seen in Australia, with proven family operators joining forces with investment funds to scale up proven business enterprises.

“It is corporate-scale agriculture operated with family farming experience and expertise, which is arguably one of the most efficient farming models in Australia.”

Mr Inglis said versatile country in the region has been selling for $800-$1000 per DSE.

“The demand for mixed farming country in the South West Slopes is insatiable,” Mr Inglis said.

“I would like to congratulate the Ward family on offering such a well presented and efficiently managed asset.”

Improvements include two raised-board woolsheds, new undercover Proway sheep yards, three sets of cattle yards, eight machinery sheds, a hayshed, a workshop and grain storage.

Gilgal is also equipped with an excellent water system including two ground bores and a well, several creek systems including Cunjegong Creek, and a network of elevated tanks reticulated to troughs. The holding has more than 80 surface dams, some of them spring-fed, and town-water connection.

An impressive homestead, as well as cottages and two managers’ houses make up the residences.

Palgrove holdings now span Queensland and NSW

Prue and David Bondfield.




















Palgrove runs Australia’s largest registered Charolais herd, and is also a significant supplier of Angus, Brangus and Ultrablack genetics, as well as a commercial beef producer.

In 2017, Palgrove principals Prue and husband David Bondfield went into a partnership with the New Zealand Superannuation Fund.

Palgrove’s home property is Strathgarve, between Warwick and Stanthorpe in Queensland, where it also owns Killaloo at Drillham on the Western Downs and Rhodesia at Yamala in central Queensland.

In NSW, Gilgal now joins Palgrove’s existing holdings, Macintyre Station at Bukkulla, north of Inverell, and Mountview, south-west of Glen Innes.


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