Fairview and Jemalong at Lucindale listed for sale

A pair of tightly-held South East South Australian farms have hit the market, including one which spans a massive 4326ha.

A pair of first-class, south east South Australian farms have hit the market, with one expected to set a “new benchmark” for the district.

The 4326ha six-farm aggregation known as Fairview, at Lucindale, has been listed for sale where it is expected to fetch a premium price.

Fairview director Grantley Stevens said the sheep and cattle property, which was amalgamated during the last 25 years by the Swiss-based Westphal-Abrezol family, was a rare offering.

“We have seen land sales in the region make $6000-$8000 per acre ($14,825-$19,766 per hectare) so it will be interesting to see what the market determines,” Mr Stevens said.

“Premium land of this size and versatility is a future long term investment for decades and we believe will set new benchmarks for the south east of South Australia.”

If offers reach the $14,825-$19,766 per hectare mark, the aggregation as a whole could receive offers ranging from $65-$85 million.

The Fairview aggregation comprises six farms in South Australia’s South East.

Comprising six farms known as Old Fairview, Lantara, Wombalano, Keys, Watson’s and Mickan’s, the Fairview aggregation has run a self-replacing cattle herd of Black Angus and Angus-Black Simmental cross cows, with predominantly a Merino ewe flock using Suffolk and Dorset rams for its crossbred enterprise.

Fairview farm manager Marc Dupree said the carrying capacity at the property had dropped to an average annual stocking of about 25,000 dry sheep equivalent while some of the country was out of production for pasture and soil improvement projects.

“When I arrived at Fairview in 2004, the place was running over 14,000 sheep and around 1000 Hereford-Simmental cross beef breeders,” he said.

The 4326ha Fairview aggregation has been listed for sale where it is expected to receive significant offers.

Colliers Agribusiness national directors Jesse Manual and Tim Altschwager have been appointed to managed the sale.

“Fairview operates a totally self-sufficient model in terms of its year-round stock feed requirements, producing all of its hay and grain requirements on the property,” Mr Manuel said.

“As evidenced by the historical stocking rates that are modest compared to district averages, Fairview’s owners have always operated in a conservative fashion, and transitioned from a certified organic model to conventional farming around ten years ago.”

Offers for all or parts of the Fairview aggregation are invited.

Meanwhile, a 1211ha cropping and grazing property located at Conmurra via Lucindale, known as Jemalong, has been listed for sale by the Wagner family after more than 100 years of ownership.

Located about 30km south of Lucindale, Jemalong has been used for grazing and cropping in recent seasons, on a mix of heavy black clays to black peat-like flats, to red loam and grey loam over limestone coils.

No price guide for the property has been offered, but Elders Real Estate selling agent Grant Schubert said the property has already attracted interest from within the district and interstate buyers.

In the last year there were several major rural property sales in South Australia including the Handbury family’s sale of their Saltbush Ag portfolio for $33 million.

The Handbury family were also the buyer of the 630ha Binbrook property at Lucindale which was sold under the hammer for $22 million.