Gardiner family sells Ruvigne at Gunnedah to Baillieu family

A major 2658ha farm in northeast NSW has changed hands, with the extended family of a former Victorian premier acquiring the property.

The family of late Fairfax chief executive Greg Gardiner have offloaded their northeast NSW mixed farming powerhouse in a top-dollar deal with one of Australia’s richest families.

The Sydney arm of the Baillieu family has purchased the 2658ha mixed farming property, Ruvigne, located on the Liverpool Plains near Gunnedah.

In March this year the Gardiner family listed the property for sale, where it was expected to fetch offers worth more than $40 million. It is understood that Ruvigne was sold for a figure in this price range.

Marshall Baillieu and family have purchased the property, adding it to their existing holding, 4637ha Tongy Station, located on the banks of the Talbragar River between the townships of Cassilis and Uarbry.

Ruvigne at Gunnedah has been sold by the Gardiner family to an arm of the Baillieu family in a top-dollar deal.

Mr Baillieu beat 13 other buyers to purchase Tongy Station for just under $20 million in 2015 and keep the property in the family name after it was initially purchased by WL Baillieu in the 1920s.

Mr Baillieu, a member of one of Australia’s wealthiest families, which also includes former Victorian premier Ted Baillieu, also has family connections to the Gunnedah district dating back generations.

It is understood the Baillieu family plans to continue to run Ruvigne similarly to the Gardiner family, employing a management team to continue its dryland and irrigated cropping production.

Inglis Rural Property chief executive Sam Triggs, alongside Jamie Inglis and Liam Griffiths, handled the sale.

Mr Triggs did not disclose the buyer or purchase price, but said Ruvigne had attracted the interest of family farming and corporate buyers thanks to its irrigation infrastructure and water security.

Ruvigne at Gunnedah has predominantly been used for irrigated and dryland cropping.

About 20 years ago the Gardiner family purchased Ruvigne from the Victorian-based Cochrane family, expanding the farm to its current 2658ha by also buying neighbouring properties.

Mr Gardiner passed away in 2009, aged 66, following a battle with cancer. His son Nick, a Sydney-based investment banker, took over running the property.

Alongside dryland and irrigated cropping farmland, Ruvigne also has water access and a restored seven-bedroom Federation Homestead built by Thomas Goodwin in 1908.

Thomas Goodwin bought the property Ruvigne from English-born Frederick Gough in the early 1890s, who had come to Gunnedah in 1872 as the Anglican Vicar.

In recent seasons Ruvigne has produced 4000-5000 cotton bales a year, with wheat, barley, sorghum, soybeans, mung beans, sunflowers and canola crops while also carrying cattle.

There is also 854ha of irrigation development, 4090ML of storage dams and natural storages.

933ML Mooki River general security entitlements, 1130ML groundwater with full carry-over entitlements and a 2759ML flood plain harvesting licence (Department of Planning Industry and Environment – Water Draft Entitlement Notification) were also included in the offering.