Riverina farm Yaloke at Deniliquin sells for more than $9 million

A farm in the Riverina has sold for more than $9 million. Full details about the sale, including the buyer, here.

Yaloke sold for well above its asking price.

A FARM in the Riverina has sold for more than $9 million – well above its asking price.

The 3341ha mixed farming property Yaloke at Deniliquin sold for $9.35 million after it had an asking price of more than $8.5 million.

Yaloke had been owned by the Wragge family for over a century and was purchased by farmer Chris Stoney who runs Minto Pastoral Company.

Yaloke, trading as Tulla Pastoral, has been held by the Wragge family since 1918, operating a mixed farming enterprise consisting of sheep, cattle and irrigated and dryland cropping.

Alan Wragge’s great-great-grandfather, Thomas, was a pioneer of the Wakool region, owning Tulla in the mid-1800s. His grandfather bought Yaloke at war’s end and Alan was the fifth generation in charge.

Stock levels at the property had been boosted to around 6000 Merinos and 1000 head of beef cattle, while around 1000ha has been laid out to flood irrigation.

It comes as the country’s rural property market has been catapulted into uncharted territory on the back of a flurry of record prices and multimillion-dollar listings.

The Weekly Times recently reported a perfect storm of low interest rates, better seasonal conditions, buoyant commodity prices and strong investor appetite is said to be behind the red-hot market, which experts believe shows no signs of stopping anytime soon.

Recently, a cropping and grazing property in the Riverina sold for $8.4 million.

The property, Karbarook at Milbrulong, NSW sprawls across 954ha and was sold by Richard Simpson.

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