Riverina family sell ‘one of Cootamundra’s finest farms’

A premier 1495ha farm in the NSW Riverina has been sold after it was tipped to field offers worth about $25 million.

The Leahy family have sold their 1495ha mixed farm, Spring Creek, located 10km from Cootamundra, NSW.

A NSW Riverina family have sold one of Cootamundra’s finest farms with the premier property changing hands after spending less than two months on the market.

The Leahy family have sold Spring Creek, a 1495ha mixed-farming property, located 10km northwest of Cootamundra.

Owned by the family for several generations, the Leahys listed Spring Creek for sale in October last year due to succession planning, where it was offered as a whole or in three parts.

At the time the property was expected to field offers worth about $25 million in total.

Details of the transaction remain undisclosed, however, it is understood a neighbouring farming operator with other agricultural interests in the Cootamundra district secured the property as a whole.

The value of the deal is also undisclosed, but understood to have been in the vicinity of vendor expectations.

Spring Creek hit the market in October last year priced at about $25 million as a whole.

Comprising a perfect mixture of gently undulating farming and fattening country and higher sloping breeding country, Spring Creek was marketed as suited to either “an investor looking for a blue chip addition to their portfolio, or a farmer looking to expand or relocate”.

Miller and James Real Estate selling agent Angus McLaren handled the sale of Spring Creek.

The property was divided into 40 main paddocks with a mixture of lucerne, clover and phalaris based pastures plus wheat and canola crops.

The property also has Goldenfields Water connection with water troughs in the majority of paddocks. There are 42 dams and a number of spring-fed creeks across the farm.

Existing infrastructure included a new four-stand, raised-board shearing shed with undercover steel sheep yards, a new set of steel Proway cattle yards with a loading ramp.

There were also 17 silos, four machinery sheds including a 700 tonne grain storage shed with a concrete floor, and a hay shed.

The top-dollar deal comes weeks after the Yarrawonga Merino Stud’s Phillips family sold their 1758ha Castle Hill Aggregation, located near Baldry, 44km from Parkes in Central West NSW.

Former Northern NSW cropping farmers John and Samantha Hickson are the new owners of the Castle Hill Aggregation, securing the property late last year for about $14 million.