Tarellar Park at Strathkellar near Hamilton sells for new district record
A farm in the Western District has been snapped up by a local for more than $22,300 per hectare or $9000 an acre – a new record for the district. Full details here.
A FARM near Hamilton has smashed price expectations selling for a new district record.
The 152ha grazing property, Tarrellar Park at Strathkellar, went under the hammer last Friday and made $3.41 million – equating to $22,341 per hectare or $9045 an acre.
Tarrellar Park had an asking price of $2.7 million-$3 million.
The property had been owned by Ian and Kay O’Connell for 15 years and was snapped up by Cavendish farmer Tony Astbury, after five bidders sought to secure the farm.
The O’Connells are downsizing to a property close to the coast.
Selling agent Andrew Dufty from Charles Stewart said he believed that the price was likely to be a new district record and had set a new benchmark.
A prime lamb operation had been run on the property, which had also served as a base for a working dog training enterprise.
About 1350 first-cross ewes and 600 prime lambs had been run by the O’Connells.
It comes on the back of a string of record breaking farm sales.
Recently, another Western District farm sold for a record price.
The 179ha cropping and grazing property at Yalla-Y-Poora sold for $23,588 a hectare, or $9550 an acre.
Low interest rates, strong seasonal conditions and commodity prices, as well as investor appetite, is said to be behind the red-hot market — which experts believe shows no signs of stopping anytime soon.
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