Local buyers purchase two NSW Riverina farms

A 1050ha property north of Wagga Wagga and a 530ha farm near Corowa have been sold in separate multimillion dollar deals. See the details.

Two southern NSW farms valued at about $20 million combined have changed hands, snapped up by local buyers in multi million deals.

At Stockinbingal, between the northern NSW Riverina and the South West Slopes, the Morton family have sold their 1054ha Dudleigh Aggregation, ending a tenure dating back more than 100 years.

Listed for sale last spring, the property was expected to receive offers worth about $11,000-$12,500 a hectare, or $11.7-$13 million.

Terms of the deal remain subject to confidentiality, however, it is understood that a local farming family has acquired the property, adding it to their existing holdings.

Elders selling agent Angus Macleod said there was “limited” interest in the property due to its listing at a time last year when interest rates were high and livestock prices had dipped.

The Morton family have sold the 1054ha Dudleigh Aggregation, ending their 115-year tenure.

Owned by the Morton family for 115 years, the Dudleigh Aggregation had been growing a mix of wheat, barley and canola on more than 900ha in recent years.

About 260km south of Stockinbingal, 530ha grazing property, Fairfield at Corowa, has been sold by Kingsley Green.

Kingsley Green has sold his 539ha property, Fairfield at Corowa.

Mr Green listed the property for sale just weeks ago, with a deal struck prior to Easter.

It is understood a local farming family has acquired the property as an add-on to their existing aggregation, while also purchasing a core of Mr Green’s breeding flock.

Offers worth more than $7.5 million were expected for the 539ha property.

The deal comes after Mr Green purchased Fairfield in 2015 for $2.4 million, acquiring it from the Clifton family, who had owned the property for more than 70 years.

In recent seasons Mr Green had used the property for prime lamb production, while also cropping grain and lucerne for feed.

Elders Real Estate Riverina agent Matt Horne handled the sale of Fairfield.

The pair of deals at Stockinbingal and Corowa come after a Victorian pastoralist family split its 2700ha Deniliquin farm, selling it to two local buyers.