Woodrise and St Vincents Portfolio are on the market with forecasts that SA farmland values to soar
Two major rural holdings have hit the market with a combined value of more than $40m, including one owned by the Michell family, once the largest wool processors in the world.
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Two major South Australian rural holdings have hit the market with a combined value of more than $40m, including one farm on the Limestone Coast region owned by the Michell farming dynasty, once the largest wool processors in the world.
The 1068ha sheep and cattle property Woodrise, between Robe and Hatherleigh, is on the market for the first time in more than 60 years.
The property is owned by Ed Michell who has family connections with the company, GH Michell and Sons.
At their peak, the Michells handled up to 15 per cent of the Australian wool clip, as well as operating processing plants for wool, leather and hides.
Woodrise has been in the family since the early 1960s and Colliers Agribusiness’ Jesse Manuel and Tim Altschwager are handling the sale with a forecast sale price of between $18m and $22m.
They declined to comment on the identity of the vendor or the potential final price, but said Woodrise’s carrying capacity in recent years has averaged 12 Dry Sheep Equivalent per hectare over a 12-month period or 11,000 DSE total. Recent sales of land in the district have shown over $1700 per DSE, with some making as high as $2000 per DSE.
They are separately handling the sale of St Vincents Portfolio, a sheep and cattle grazing landholding south of Adelaide between Sellicks Beach and Hindmarsh Tiers, comprising 770ha of productive land with stunning views, abundant water and high-quality improvements.
St Vincents portfolio comprises three separate offerings; Hilltop Farm, a significant grazing property of 407ha with three titles and a carrying capacity of over 6000 DSE; Ashley Park, the main homestead property comprising 238ha including over 40ha of permanent irrigation, all of the farm buildings and majority of the livestock infrastructure; and Old Sellicks Hill Estate that is being offered as 10 individual, vacant lifestyle parcels ranging in size from 10ha to 15ha.
Recent sales of bare grazing land in the district have achieved over $30,000 per hectare equating to a potential price of between $20m and $25m.
Agribusiness financier Rabobank’s annual Australian Agricultural Land Price Outlook found
favourable macro forces were continuing to swell agricultural land prices in 2022, following a
27 per cent growth in 2021.
Preliminary data indicates growth of above 25 per cent in Australian agriculture land prices so far for 2022, suggesting full-year sales will easily yield double digit growth.
Mr Manuel said for the past 15 years Woodrise has been using biological farming practices to enhance soil nutrient cycling and availability in our farming system.
“The program has facilitated greater pasture growth and extended the growing season,” he said.
“The program is already having an impact, significantly lifting maiden ewes’ lambing percentages due to the increased pasture nutrition available in the Autumn period.”
The St Vincents Portfolio are well suited to livestock production, with high quality infrastructure, excellent improved pastures, intensive feeding facilities and quality fencing.
To complement this, the landholding features extensive surface water and multiple bores for stock, domestic and irrigation purposes.
Mr Manuel said the owners have been graziers on the Fleurieu Peninsula since the mid 1800s.
“This historic family run livestock enterprise holds a special place in the region’s agricultural history, having maintained a notable presence on the Fleurieu Peninsula for well over 100 years,” he said.
The current owners have a sustainability focus, applying natural fertilisers across the whole property together with extensive tree shelter belts, encouraging native bird life and natural insect and weed controls.
Mr Altschwager said the properties occupy an extraordinarily unique position at the juncture of the outer Adelaide metropolitan area and the rural environment of the Adelaide Hills/Fleurieu Peninsula.
“The properties feature efficient access out of Adelaide via the Southern Expressway and Main South Road, and can also be accessed via Victor Harbor Road. Both are important tourist routes linking the properties with the amenity of the McLaren Vale, the Adelaide Hills, Adelaide’s southern suburbs and the South Coast,” he said.
Originally published as Woodrise and St Vincents Portfolio are on the market with forecasts that SA farmland values to soar
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