Local family to sell huge northwest NSW farming portfolio

A 7300ha three-farm aggregation of dryland and irrigated cropping, plus wetland grazing, has hit the market with a major water portfolio.

The 7356ha Eureka Aggregation has been listed for sale by a local farming family.

A significant mixed irrigation, cropping and grazing aggregation covering more than 7300ha in northwest NSW has been listed for sale after more than 40 years in the hands of a local farming family.

The three-farm 7356ha Eureka Aggregation, located at Bullarah, about 67km west of Moree in northwest NSW has hit the market, including a huge water portfolio.

The aggregation comprises the 2291ha Eureka, purchased in the early 1980s. In the first year the property grew about 162ha of cotton with one licence. Since then the property has been further developed with the addition of three more licences to 1515ha.

Water is also a feature on Eureka, with storage increased from 34ha to more than 310ha or more than 19,000ML, resulting in only one missed cotton crop in the last 40 years.

The 4159ha Wandoona was added to Eureka in 1995 from previous owners, who had held the property for 99 years. The property offered an area of more than 4000ha of wetland grazing and dryland farming.

In May 2017 the 906ha Alamby was purchased at auction and became the final addition to the aggregation.

Across the aggregation 1515ha have been developed for irrigated cropping, divided into 19 fields.

Recent comparable land sales in the Bullarah district have yielded offers worth $10,000 an arable hectare, while the regulated water licences are expected to be worth about $8000 a megalitre.

Moree Real Estate agents Terry Adams and Paul Kelly are handling the sale of the Eureka Aggregation, via expressions of interest closing May 14 at 4pm.

The Eureka Aggregation will be sold as a whole, but could be sold among multiple buyers via a syndicate.

Across the aggregation 1515ha have been developed for irrigation, divided into 19 fields with

four reservoirs from which all the fields are gravity fed.

The Eureka Aggregation covers 1600ha of Gwydir Wetlands grazing currently running 340 cows.

Field runs ranging from 450m to 850m currently grow about 700ha per year, with three fields a year re-lasered to maintain efficient water distribution and improve yields.

Gwydir Regulated River and Mehir River water licenses provide access to more than 14,000ML across the Eureka Aggregation.

The aggregation also consists of 3800ha of large-scale efficient dryland farming suitable to both summer and winter crops. There is currently 280ha of dryland cotton; the remaining area is fallow with 2500ha of that to be planted with various crops in winter.

Wandoona is also situated at the start of the Gwydir wetlands, carrying 340 cows and is supported by three sets of cattle yards, two large new hay sheds plus 600 tonne of sorghum silage in a silage pit.

Additional infrastructure across the aggregation includes 5960-tonne silo storage, four homes, three cottages, a workshop and large machinery shed.