Cooloongatta farm, at Tarcutta, sold for $6.5m-plus to local buyer

A picture-perfect livestock operation near Tarcutta was sold for $2.69m in 2019, but the value of the farm has skyrocketed since.

A premier breeding and fattening property in southwestern NSW has been sold at a top-dollar price, almost three times higher than when it was last sold in 2019.

The Cooloongatta farm, located at 1725 Humula Road, Tarcutta, has been sold in a deal believed to be worth $6.5m-$7.5m.

The farm was last marked as sold in September 2019 for $2,625,000, with the value having now tripled in less than three years.

A sale price of about $7m would equate to about $23,890 per hectare for the blue-ribbon 293ha holding.

Webster Nolan Real Estate – Surry Hills director and selling agent David Nolan said the sale was made prior to the intended auction date in April.

“It was a very strong result,” he said.

“It demonstrates that properly presented and good quality assets still have a strong demand in the market.”

The deal is further proof of the record rural property market activity that has consumed buyers in the recent times.

The farm was sold by a Sydney businessman, with the successful purchasers existing land owners in the region.

Key features of the Tarcutta farm include reliable rainfall, around 180ha of arable cultivation country and two centre pivots with 80ML irrigation licences.

With elevated and protected grazing country, the farm was also ideal for Lucerne, fodder production and livestock fattening.

720km west of Tarcutta, at Pooncarie neighbours have continued the trend of snapping up farmland on the market.

On April 13, the 8993ha Dockerty Station, located 1.5 hours from Mildura was sold at auction to the owners of an adjoining property.

A bid of $3.1m ($349 per hectare) secured the tightly held grazing farm.

The Freeman family, who have owned Dockerty Station since 1944, were the vendors.

Elders Real Estate principal and selling agent Marty Deacon said five registered bidders were active on the day.

He also said the farm sold in line with price expectations with the vendor very pleased with the result.

No stock is depastured at present except for Australian bush goats, but it is estimated 1800 breeding ewes or cattle equivalent can be carried on the farm. About 1000 Australian bush goats are sold each year from the Dockerty Station.

The sale comes after a rurally-based buyer secured the New England region’s Upton Farm in a whopping pre-auction sale.