Big Riverina station linked to Paraway land purchase

PARAWAY Pastoral Company is believed to have paid up to $12 million for a historic NSW Riverina property.

Ulonga station at Hay for sale

PARAWAY Pastoral Company is believed to have paid up to $12 million for a historic NSW Riverina property.

Sources say Paraway, the grazing offshoot of Macquarie Bank, has bought Ulonga, one of the Lachlan River’s best and biggest grazing properties.

Paraway already owns six stations in southern NSW including the famous Mungadal Merino stud at Hay and Pooginook at Jerilderie.

The 31,267ha Ulonga station, about 40km northwest of Hay in the Riverina, has been on the market for $10-12 million.

Selling agent Chris Meares referred questions on the rumoured sale to owner Ben Barlow.

Mr Barlow has failed to return The Weekly Times’ calls but sources say the property had sold for around $140-$150/acre, including water.

Ulonga is three properties in one.

Ben and Cate Barlow have merged Lara, Tarana into Ulonga since 2002.

The property has 1725 megalitres of water entitlements.

Paraway Pastoral Company was linked to the purchase although a spokesman said the company had a policy of not commenting on rumours.