Dalriada at Holbrook, NSW sells for more than $40m to farming family

Blue-ribbon property Dalriada at Holbrook has been snapped up by a farming family who paid $10m more than the price guide.

A blue-ribbon property in the sought-after farming district of Holbrook in southern NSW has sold for more than $40 million – a whopping $10m more than initial price guides.

The Weekly Times understands the 1435-hectare Dalriada property at Holbrook was last week purchased at a private auction by a farming family from centralwest NSW for $40 million-plus.

When Dalriada hit the market in October, it had a price expectation of more than $30 million.

Previously owned by the Burgess family, Dalriada was offered for only the second time since it was settled.

It’s sale comes amid record buyer demand for rural property across Australia buoyed by low interest rates, strong commodity returns and good seasonal conditions.

At the time of its listing, selling agent David Gittoes, from Elders Real Estate at Albury, said the 1000-cow capacity of Dalriada was enough to attract competition, but its level of improvements by the current owners pushed it into another league.

Mr Gittoes, who has a 30-year history in real estate, said it was “the best property I have ever stepped foot on”.

“You can’t put a hole in anything (the quality),” Mr Gittoes said.

“Everything has been done to perfection – this is a property that is picture perfect.”

Mr Gittoes said he could not comment on the sale price due to confidentiality agreements. But he said the property had sold at auction attended by six registered buyers

Along with its grazing potential, Dalriada has a 200-megalitre water license which has not been activated but could be used for irrigation.

Dalriada has been the base for the Burgess’ Ravensdale Hereford stud and was originally part of the Yarra Station spread of the 37,000 hectares owned by the McLaurin family.

It comes as two Australian farming families have snapped up a huge slice of American-owned cropping land in Victoria’s Western District for about $70 million.

US-backed Laguna Bay Agricultural Fund sold its 3353-hectare Woorndoo aggregation near Lake Bolac – in separate deals – to Ian and Camilla Shippen from Moulamein in southern NSW, and Clinton Ross, who has significant farming interests in western Victoria.