Punari, Oakbrook, Taratap and Woodrise: four major SA farms sold

Four more farms in the traditionally tightly-held southeast South Australia have been snapped up in top-dollar deals.

About $50 million worth of South Australian farms have changed hands with four holdings in the tightly-held southeast region sold.

The 1068ha sheep and cattle farm, Woodrise, located in the lower Limestone Coast region between Robe and Hatherleigh has been sold for the first time in more than 60 years.

In September an Adelaide-based pastoral family offered the property with recent district land sales indicating the property could fetch between $18.7 million and $22 million ($1700 to $2000 per dry sheep equivalent).

Colliers Agribusiness selling agents Jesse Manuel and Tim Altschwager, who handled the sale, confirmed the property had sold, but did not comment on the sale price or the purchaser.

The 1086ha Woodrise farm has been sold to an undisclosed buyer.

Prior to the sale Woodrise was running a self-replacing sheep flock averaging 12 dry sheep equivalent per hectare or 11,000 dry sheep equivalents.

Meanwhile three other Limestone Coast farms have been sold with neighbouring farmers reportedly spending more than $30 million combined to acquire Punari, Oakbank and Taratap farms near Kingston SE.

Sheep stud owners Bruce and Debbie Nulty sold their adjoining 1292ha Punari and 1195ha Oakbank to separate buyers.

Lachie Stewart’s 419.95ha Taratap, which had been home to a mixed prime livestock enterprise, was also sold to a separate neighbouring buyer.

The Nulty’s Punari and Oakbank has primarily been used for prime lamb and cattle production thanks to its black flats cultivating sub clovers, rye grass, phalaris and native grasses pastures.

Elders Real Estate Robe selling agent Grant Schubert handled the sale of the Punari, Oakbank and Taratap farms.

In the last few months there has been about $100 million worth of southeast South Australian farms sold including these four Limestone Coast farms.

Earlier in the year the McWaters family sold their 630ha Lucindale grazing farm under the hammer for $22 million.

Meanwhile three other SA farms were snapped up for almost $30 million combined in separate deals last month.