Dinning, Agnew and Rowett families: Southeast SA farms in hot demand

Multiple tightly held farms in southeast South Australia have been sold as locals pay a premium to expand their holdings.

The rural property market in southeast South Australia has seen a number of significant results this spring as locals pay up to expand their existing holdings.

In what is traditionally tightly held farmland, three SA farms have been snapped up for almost $30 million combined in separate deals, while another premium aggregation has hit the market.

The Dinning family have sold their 1164ha cattle farm, Yalandro, located about 35km from Bordertown after 80 years in the family.

Yalandro, a grazing and cropping farm at 678 Jones Rd, Mundulla in South Australia has been sold.

The holding was listed for sale in July with a price indication between $15 million and $17 million.

It is understood a local landholder with substantial holdings, including adjoining land to Yalandro, has acquired the property in a deal about the expected price range.

SAL Real Estate Mount Gambier selling agent Cameron Grundy said a strong beef market was driving the demand for some southeast SA farms.

“There was good interest in Yalandro, most of it was relatively local but there was some interest from Victoria and southern NSW too,” he said.

“The market is, at the very least, holding prices at the recent higher levels we have seen and when there may be two corporate adjoining landholders, this could drive the price further.

“Interest rates are still relatively low and the outlook for beef is sound so buyers are tending to take a long-term view and deciding the current values are reasonable for buying.”

The 455ha Agnew farm was sold at auction for more than $8 million.

About 50km north of Yalandro, the Agnew family have sold their 455ha grazing and horticulture farm to a local buyer through auction for $8,050,000.

The neighbouring Tranter family secured the property and a licence of almost 500ML.

The Tranter family run a mixed farming operation including potato production and it was expected they will use Agnew to expand their operations, making use of the equipped pivot sites in particular.

Hodges farm comprises medium loam soils over clay scattered with gums grading to heavy black loam with depth over an original square mile block.

Earlier this month the Lillicrap family paid $5.4 million at a Penola auction to secure the 266ha Hodges mixed farm from a local vendor who has owned the holding in the family since 1964.

Located at Penola’s Coles region, three bidders tried to secure the farm which has traditionally been used as a prime lamb breeding and finishing property, but also has the potential for cropping.

TDC Livestock and Property agents Tom Pearce and Mark De Garis completed the auctions of both the Agnew and Hodges farms.

Earlier this month Tom and Kerry McWaters sold their 630ha Binbrook farm, at Lucindale, SA, through auction for $22 million as it fetched almost $35,000 a hectare.

Two hours north of Agnew, the Rowett family are selling their 3930ha aggregation of cropping and horticultural farming assets.

Located in SA’s upper southeast, the Kynoch aggregation comprises irrigated and dryland cropping country as well as a major onion business.

The Rowett’s onions enterprise produces between 8,000 and 10,000 tonnes of onions annually thanks to underground water licences providing irrigation water allocations totalling over 3000ML sourced via multiple bores.

Colliers Agribusiness agents Tim Altschwager and Jesse Manuel are handling the sale with expressions of interest closing Wednesday December 14 at 12pm (ACDT).