$15m-plus price tag for Ball Agriculture’s Euroa sheep station, Balmullin

A 1551ha grazing enterprise in North East Victoria has hit the market with the owners wanting to increase their Wagyu beef breeding.

The desired restructure of a family-owned farming portfolio is the catalyst for the sale of a 1550ha sheep station near Euroa, in North East Victoria.

Nestled in the Molka district, 40km south of Shepparton, Ian Ball and wife Joan have owned the renowned grazing enterprise Balmullin as part of their expansive property portfolio.

The Melbourne-based couple launched Ball Agriculture in 2006, growing and selling beef, lamb and red wine for the domestic and export markets.

Mr Ball, who is Ball Agriculture’s managing director, said the aggregation has been an important part of the enterprise, but they were pivoting to a different direction toward Wagyu beef breeding.

“We have made a decision to restructure the business with an increased focus on our Wagyu beef enterprise, increasing our breeding numbers to satisfy the insatiable appetite of our established market connections,” Mr Ball said.

Ball Agriculture are selling their Euroa sheep station, the 1551ha property Balmullin.

“Balmullin has been, and continues to be, a strong contributor, and we have injected significant capital into the property to enhance its performance and sustainability in all aspects of the operation.

“Undercover sheep handling facilities have been constructed, quality fencing and wide laneway system introduced, and extensive pasture renovation has taken place over the last decade.

“The property has state-of-the-art undercover sheep handling facilities, a 3000-head containment area, over 110ha of flood irrigation via two turkey nest dams with 205ML of storage capacity and new fencing across the entire aggregation.”

The Ball family have implemented significant capital upgrades at Balmullin.

Balmullin (868.82ha), Berridale (350.88ha) and Boxwood Park (330.88ha) comprise the Balmullin aggregation, with the properties for sale as a whole or in three separate lots via conjunctional agents Elders Real Estate and CBRE Agribusiness.

It is expected the aggregation will field offers worth $9884 to $11,119 a hectare ($4000 to $4500 an acre), meaning it could be worth more than $15.3 million.

The Ball family also own 1200ha near Longwood East, which runs about 700 Wagyu breeders and includes the highly regarded 3.6ha The Falls homestead garden and the adjoining Mullins and Ball Shiraz vineyard.

The Balmullin aggregation has a carrying capacity of 15,000 dry sheep equivalent.

CBRE Agribusiness director and conjunctional selling agent Shane McIntyre said the Balmullin aggregation has been home to Ball family’s Molka Lamb venture, focused on prime lamb production with about 6500 first cross and composite ewes producing lambing averages of more than 125 per cent annually.

“Balmullin is a thoughtfully designed prime lamb operation of significant scale, with support irrigation, and containment areas, ensuring the ideal finishing environment for prime lambs,” Mr McIntyre said.

“The property enjoys 525mm average annual rainfall with additional winter run-off harvesting capacity into two turkey nest dams enabling flood irrigation onto lucerne and summer pastures.”

The aggregation has a current carrying capacity of 15,000 dry sheep equivalent with existing infrastructure including a state-of-the-art shearing complex and machinery sheds.