Maybank, Turners Lane: Locals snap up Riverina farms for $25m-plus

Two Riverina farms have been sold among six local buyers, including a Holbrook property which made more than $24,000 a hectare.

A pair of NSW Riverina mixed farming properties have changed hands, with a range of local buyers adding to their existing holdings in deals worth more than $25 million combined.

North of Wagga Wagga at Old Junee, the Turner family has sold its five-farm 1103ha mixed farming aggregation, ending a family tenure which dates back to the soldier-settlement era.

It is understood five separate local buyers have each secured a slice of the Turners’ aggregation, including one neighbour and four producers based in the Old Junee district.

The value of the transactions remains undisclosed, however a price guide of more than $14,826 a hectare was used when the property was listed for sale in July this year.

The Turner family have sold their 1103ha Old Junee aggregation.

The Turners’ aggregation includes the lots Shiralee (336.2ha), divided into two parts, Lot 136 (110.5ha) and Lot 135 (225.7ha). There is also Jendima (171.9ha), which adjoins Shiralee; Oakvale (176.54ha); the adjoining Foxdale (156.2ha); and The Pinnacle (263.45ha).

Across the aggregation the Turners have cropped wheat, canola, oats and lupins across 400ha to 650ha and bred Merinos, usually joining 2200 ewes to Haddon Rig rams while also currently stocking 1000 hoggets and 2000-odd lambs.

RLA Property Wagga Wagga agent Bob Wheeler handled the sale.

Meanwhile, about an hour south of Old Junee, a 443ha Holbrook grazing property has fetched a premium price worth more than $24,000 a hectare.

Maybank, located 14km north of Holbrook, has been sold to an existing eastern Riverina farmer, ending Albury livestock agent and grazier Trent Boers’ short tenure at the property.

Mr Boer purchased Maybank via the Kilsyth Pastoral Company after it was listed for sale in 2020.

Maybank’s sale price remains undisclosed however it is understood a price in the vicinity of the guide of $12 million was paid for the property.

Prior to Mr Boers’ tenure the property was owned by Chris Gates and Meg Wade, who had run a beef cattle herd as well as their renowned Castlebar Endurance Arabians horse stud.

Via Kilsyth Pastoral Company, Albury livestock agent and grazier Trent Boers has sold the 443ha Maybank property.

LAWD director Tim Corcoran handled the sale and said the property received widespread interest from buyers chasing high rainfall in the NSW Riverina.

“There was interest from the central west NSW right down to the Western District in Victoria,” Mr Corcoran said.

“There is an appetite from the market to get into that part of the world, chasing that rainfall, and buyers doing high levels of due diligence are realising that the stock job will get better from here.”

The four-bedroom and three-bathroom Maybank homestead is considered one of the premier homesteads in the district.

The sale of Maybank comes after a series of major Holbrook district grazing properties were listed for sale so far this spring.

Most notably the Satchell family is selling the 2654ha Yambla Station, where offers are expected to reach more than $55 million.

In September the Shaw family listed the 1643ha Wantagong station for sale for $40 million, while the Meuer Pastoral Company is expecting about $18 million for the historic North Billabong station at Little Billabong.

Murray Scholz, a Nuffield scholar, and his wife Emma are also selling their 1420ha Dunoon Aggregation, which could make more than $26 million.