Drenkhahn family sell Glendale aggregation to Victoria’s Coburn family

Two NSW properties have been sold, including the sale of a 3100ha aggregation to a northern Victorian farming family prior to a scheduled auction.

A northern Victorian farming family has snapped up more than 3000ha of NSW farmland, securing the four-farm aggregation in a deal struck prior to a scheduled auction.

The Coburn family, via Coburn Farming Victoria, purchased the 3115ha Glendale aggregation, at Trundle in Central West NSW.

Glendale was originally scheduled for auction on September 7, but was rescheduled until September 21 after late interest in the property.

However, the Coburn family acquired the property as a whole from Anthony and Michael Drenkhahn in a deal worth $11.75 million, as the farms were sold prior to the rescheduled auction.

Anthony and Michael Drenkhahn have sold their 3115ha Glendale Aggregation near Trundle, NSW. Picture: Supplied

A value of about $4941 an arable hectare ($2000 an acre) was paid with wheat (647ha), barely (287ha), canola (154ha) and lupin (73ha) crops included in the sale.

Nutrien Harcourts Forbes selling agent Ainslie Toole handled the sale and said the value of the deal aligned with their expectations.

“They (the Coburn family) inquired during the marketing process and needed some time. The owners were able to give them the time that they needed,” she said.

“The sale was right on par with what we were expecting and that was exactly what we got.

“The sale also included crops which certainly helped.”

Meanwhile about 1.5 hours north of Trundle, Michael and Karen Clift’s 2883ha Collareen Aggregation at Gulargambone was passed in through auction on Thursday.

The 713ha Kensal Green and Bruan Park aggregation near Gunnedah has been sold through auction.

Negotiations are continuing for the sale of the aggregation, which has been owned by the Clifts for 13 years.

And in northeast NSW, the 713ha Kensal Green and Bruan Park aggregation near Gunnedah has been sold through auction for $18.5 million.

Owned by Breeza farmer Scott Morgan and family since 1984, the property was sold under the hammer for the equivalent of $25,946 a hectare as a whole.

Local farming family the Tudgeys were the successful bidders ahead of eight total registered bidders.

About 622ha of the property is considered arable area with 443ha of developed irrigation.