Renowned NSW Riverina farms to fetch $30 million offers

A prominent family have listed their four-farm 1900ha sheep and cropping aggregation near Wagga Wagga. See the details.

More than 1900ha of NSW Riverina farmland has hit the market as a renowned family in the region prepares to relinquish ownership of its highly regarded four-farm aggregation.

Offers of about $30 million, or the equivalent of more than $15,700 a hectare, are expected for the Fife family’s 1907ha mixed farming Gundary Aggregation, located about 30km northeast of Wagga Wagga.

The son of the late Wagga Wagga politician Wal Fife, David and his wife Kerry have listed the aggregation for sale, offering it to the market for the first time in 36 years.

Wal Fife, a minister in the government of Malcolm Fraser, spent 18 years as the Liberal Party’s state member for Wagga and a further 18 years as its federal member for Farrer.

During the Fraser government he was minister for aviation, education and consumer affairs.

The Gundary Aggregation, located about 30km northeast of Wagga Wagga, has been owned by the Fife family for more than three decades.

Comprising four parcels, the Fife family’s Gundary Aggregation includes the 714ha Myrnong, 627.5ha Lochiel, 478.7ha Girrawheen and 87ha Aerodrome Lane.

In recent seasons a high performing first-cross flock has historically carried

up to 9000 merino ewes crossed with Border Leicester and Dorset rams with a carrying capacity of 23,500 dry sheep equivalent.

Additionally the aggregation boasts a significant portion of arable land that includes established lucerne pastures and 655ha of winter cash crops sown for this year.

However, after conservative management, intensification, dual-purpose cropping, and further capital investment it would allow for an estimated carrying capacity of 26,000 dry sheep equivalents.

The Gundary Aggregation has carried up to 9000 merino ewes crossed with Border Leicester and Dorset rams with a carrying capacity of 23,500 dry sheep equivalent.

Inglis Rural Property agents Liam Griffiths and Sam Triggs are handling the sale with a two-stage expressions of interest campaign closing July 4.

“The Gundary Aggregation presents an excellent opportunity and rare economies of scale for large investment groups seeking to secure an aggregation of high quality, consistently performing farming assets,” Mr Griffiths said.

“It is equally attractive to local landholders and family operators looking to secure additional scale.”

Meanwhile further south in the Riverina, Mellool Station spanning 4100ha near Swan Hill has been sold for the first time in more than 50 years in an eight-figure deal.