Northern NSW cattle farm sold for more than $28 million

A prized 1500ha property in the NSW New England region has been sold in a major deal struck post-auction.

A pair of premier grazing properties in NSW have received mixed fortunes at two separate auctions held this week.

Jackson Agriculture, a northern NSW beef producer founded by John Jackson, has sold its 1504ha New England holding, Lakeside, after a deal was struck post-auction.

Offered for sale via an online auction, the property was initially passed in for $28.1 million on Wednesday, before being sold to the undisclosed underbidder for an undisclosed price.

It is understood a northern NSW grazier has purchased the property, paying a price greater than the $28.1 million bid Lakeside was passed in for.

Located south of Walcha, Lakeside is rated to carry 30,000 to 35,000 dry sheep equivalent and estimated to carry 1500 to 1750 cows, or fatten 3000 steers a year, or background 4500 steers a year.

When the property was listed for sale Lakeside agronomist representative Matt Foster from Grazag said the property was “top shelf”.

Jackson Agriculture have sold their 1504ha Lakeside property, near Walcha NSW.

“Of all the properties in the (Jackson Agriculture) portfolio I personally view Lakeside as the cream of the crop,” he said.

Jackson Agriculture owns further properties in the NSW New England region including Sueramez at Armidale and Winston Park and Braeside at Ben Lomond.

Meares and Associates chief executive Chris Meares handled the sale of Lakeside and said the property attracted the interest of mostly northern NSW and New England grazing producers.

“The market and the complement of buyers has changed quite a bit,” he said.

“Two years ago we had competition from buyers out of Queensland and investors from Sydney and you might see six to eight registered bidders.

“Now the inquiry has been a lot more localised.”

Girrakool and North Pomeroy, near Goulburn, was passed in through auction on Tuesday, April 23.

Meanwhile, negotiations are continuing for former Argo Investments director Robert Rich’s 2393ha Girrakool and North Pomeroy, located near Goulburn in the NSW Southern Tablelands.

Offered for sale via auction in Sydney on Tuesday, it is understood the property was passed in for an undisclosed sum with negotiations ongoing between multiple interested parties.

Initially offered for sale in early 2022, a new campaign for Girrakool and North Pomeroy was launched earlier this year with price hopes of $28-$30 million.

Webster Nolan Real Estate is handling the sale of the properties, which has carried 1300-1400 cows and selling the calves at about 500kg in recent seasons.