Northern NSW beef farm fails to sell at auction

A premier grazing enterprise across 2051ha in northern NSW has failed to sell at auction after being passed in for more than $27m.

The Williams family are selling the 2051ha Jamberoo property near Walcha, NSW, purchased 2017.

A premier grazing enterprise across 2051ha in northern NSW has failed to sell at auction after being passed in for more than $27m.

Jamberoo, located in the Walcha-Yarrowitch district, was listed for sale earlier this year by the Williams family following eight years of ownership.

Regarded as a first class cattle grazing property, Jamberoo has run a mix of breeding cows and backgrounding, fattening steers, with the property rated to carry in excess of 25,000 dry sheep equivalents, or up to 1400 breeding cows or backgrounding 3000 to 4500 steers.

Initially the property was scheduled to be auctioned on April 2-3 via Meares and Associates, but was postponed until April 16-17 following the intense inland rainfall following Cyclone Alfred.

The opening price for Jamberoo was $25m on Wednesday, before rising to $27.5m on Thursday morning. The property was then passed in.

It is understood negotiations are ongoing with potential buyers for the significant grazing property.

Infrastructure at Jamberoo includes two three-bedroom homes, two steel cattle yards and a machinery shed complex.

“Over the years during its pasture development Jamberoo has operated with a beef breeding herd and increasingly a steer fattening program. It is our opinion that the potential for Jamberoo lies with its ability to either background or fatten steers for either the feedlot or premium domestic meat markets – given year in year out average weight gains of 0.8kg per day or better,” Meares and Associates director Sam Meares said when the property was listed for sale.

“The level of development as a working farm on Jamberoo is outstanding. Apart from its excellent natural resources including its high rainfall, rich basalt soils and altitude, sitting on the top of the Great Dividing Range the property has been developed over the past seven years from virtually a blank canvas to now one with approximately 70 per cent of the total holding and virtually all cleared land (1450ha) sown to outstanding high performance fescue based pastures.

Jamberoo is rated to carry in excess of 25,000 dry sheep equivalents.

“The final 180ha of older pasture is planned to be updated in autumn 2026, completing the development program.”

Water is provided by an equipped bore, permanent springs, Warnes River frontage, double frontage to three main creek systems and around 60 spring fed dams.

Infrastructure includes two three-bedroom homes, two steel cattle yards and a machinery shed complex.

Located 15km from Yarrowitch, Jamberoo is located among a series of recent top-dollar district sales including Upton Farms and Kentucky Blue which sold for a combined $135m-plus across the last few years.

Most recently Jackson Agriculture, a northern NSW beef producer founded by John Jackson, sold its nearby 1504ha holding, Lakeside, for $30m after a deal was struck post-auction.