Irelands Angus stud farm at 90 Scotts Rd, Upper Kyeamba, Wagga Wagga, for sale
The Irelands Angus stud has listed its farm in southern NSW for sale. It comes after the stud was placed in liquidation. See how the property will be sold and who holds the mortgage over the farm.
THE home property of the debt-laden Irelands Angus stud is for sale.
Ray White has listed the 171ha Ivydell property near Book Book in southern NSW, which has served as the headquarters of the Irelands Angus stud since 2004.
Expressions of interest in the property, being marketed as “an executive country estate”, close on October 23.
Irelands Angus is run by CD & PJ Ireland Pty Ltd, the trustee of the Ireland family trust, which was placed in liquidation on November 14 last year with debts of about $13.3 million.
In January, The Weekly Times reported that three parties had lodged claims over the Ivydell property, personally owned by Corey and Prue Ireland, in the wake of the liquidation.
A NSW Land Registry Services title search at the time showed both Rabobank subsidiary De Lage Landen and Holstons Pastoral Company principal Peter August had placed caveats over the farm, but only in relation to the share held by Mr Ireland.
The title search also showed Westpac had a mortgage over the farm and appeared to have first rights to any deal over the property.
According to selling agents, “opportunities like Ivydell do not come to the market often” with the property boasting a “chic” five-bedroom home complete with gourmet kitchen, butlers’ pantry and wine cellar. Farm improvements include a cattle selling ring, 40 viewing pens and yards that could hold 100 adult cattle.
Ray White selling agent Geoff Palmer was unable to disclose a price for the property and said its media team would be handling enquries about its sale. When contacted by The Weekly Times today Corey Ireland declined to comment on the property’s sale.
Ivydell last week hosted a court-appointed Irelands Angus spring bull sale with 38 bulls selling from 46 on offer for an average of $5289 and a gross of more than $200,000.
The sale was conducted on behalf of the court-appointed receivers KPMG Australia.
In separate proceedings, Mr Ireland will face a committal hearing in the Wagga Wagga Local Court on October 14 on eight counts of fraud.
NSW Police alleged when he was charged in April that he entered into joint business ventures with farmers and on-sold cattle that either did not exist, were deceased or had been on-sold without investors’ knowledge.
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