Grimwade and Gordon to sell Deniliquin farms South Studleigh and Letona

More than 3300ha of Riverina farmland has hit the market with a prominent farming partnership looking to offload two farms.

A partnership between a former Rich Lister and a descendant of one of Australia’s oldest sheep farming dynasties is set to offload two sprawling Riverina farms near Deniliquin.

Grimwade and Gordon, a partnership between former Rich Lister Michael Gordon and George Grimwade (son of graziers Jane and Martin Grimwade) are selling South Studleigh and Letona, a 3333ha mixed farming aggregation.

The properties are priced at about $5000 to $5500 a hectare meaning they could make $16-$17 million as whole.

The 2524ha South Studleigh could make $12-$12.5 million while the nearby 809ha Letona could fetch $4-$4.5 million.

Grimwade and Gordon have steadily built their agricultural portfolio since beginning in 2017, with the partnership now owning more than 261,000ha across NSW and Queensland.

Earlier this year they paid $26 million bare for two NSW western land leases, securing the 41,067ha Ellavale Station and 29,200ha Congararra, both situated more than 100km north of Bourke.

Grimwade and Gordon are selling their 3333ha Riverina aggregation, South Studleigh and Letona.

In 2020 the partnership purchased one of Queensland’s historic pastoral properties, the 15,990ha Terrica Aggregation at Stanthorpe, in a deal worth $14 million.

South Studleigh, located 35km southwest of Deniliquin at Barham Rd, is an irrigated cropping and grazing property with 515ha developed for irrigation supported by four Murray Irrigation Limited delivery outlets and a high-volume deep irrigation bore (18ML per day capacity).

It includes a 40 x 18 x 6m all-steel hay shed and outstation sheep yards, and is fenced into 11 paddocks with secure stock waters via a solar pump and pipeline system.

The non-contingent Letona is located at 235 Letona Rd, 47km southwest of Deniliquin. Letona is currently run as a dryland operation but is connected to the MIL network.

Existing infrastructure at Letona includes a three-bedroom home, machinery shedding, workshop, three-stand shearing shed with adjoining steel yards.

Border Real Estate agent David Leeds and Elders Real Estate agent Matt Horne are handling the sale conjunctionally, with expressions of interest for the properties as whole or in two non-contingent lots closing Wednesday, June 7 at 12pm (unless sold prior).