The ten most eye-catching farms for sale in Victoria and the Riverina
Ten of the dearest farms have a combined worth of more than $265 million. We reveal how much each farm is expected to make and the high profile owners.
THE ten most eye-catching farms currently for sale in Victoria and the Riverina are steeped in history and have a combined worth of more than $265 million.
Some of these properties have been owned by the same families for decades, others are owned by high profile ASX-listed investment trusts while a few are in the hands of foreign investors.
The 10 sprawl from the north at Hillston to south in Gippsland, and range in size from 105ha to 14,916ha.
Their land is used to run diverse agricultural enterprises including almond and cotton production, grazing, cropping, dairying and a table grape orchard, as well as a horse training facility.
Sitting at the top with the heftiest price tag is Mooral, an almond orchard for sale at Hillston, NSW.
The orchard, which is owned by the ASX-listed Rural Funds Group, was put on the market at the end of April with an asking price of more than $100 million.
The 3814ha property consists of 808ha planted to mature almond trees with a secured long-term lease to supply Select Harvests. Mooral also features a whopping 10,350ML water entitlement to lower Lachlan River groundwater.
At the time, CBRE selling agent Col Medway said it was rare for a property like Mooral to be on the market and that it would appeal to domestic and international buyers.
In Gippsland, Nambrok Estate – one of the country’s most historic and significant properties – has been on the market for almost 12 months.
With an asking price of about $20 million, the 989ha mixed farming property has been owned by several prominent figures.
Nambrok was built in the 19th century for pastoralist and Gippsland pioneer John King, the grandson of NSW’s third governor – Philip King.
In 1908, the property was purchased by John and Edith Widdis and just a few years later, in 1915, Mrs Widdis became the first female owner to triumph at the Melbourne Cup with Patrobas, who was trained and stabled at Nambrok.
The McGauran family, which includes former agriculture minister Peter McGauran and former senator Julian McGauran, purchased the property in 1985.
In January, Chinese textile giant Ruyi Group listed for sale the renowned Larundel Estate at Cargerie near Meredith.
The 924ha property, which is used to produce ultrafine Merino wool, lamb and crops, has a price tag of about $20 million.
CBRE’s Danny Thomas told The Weekly Times the property was suited to a buyer looking for a landholding with a trophy homestead while offering a balance of fertile plains, rivers and bush.
“The history of the property and its place within the nation’s agricultural history is another drawcard,” Mr Thomas said.
At McMillians near Cohuna is the Heap family’s dairy farm, Balmoral Park, which was listed for sale at the end of 2018 for about $8 million.
The 1133ha property has been run by five generations of the Heap family who first secured the land in 1929.
Jason and Lorelle Heap took the reins from Jason’s parents, Gary and Carole, in 1996 and the couple run the farm with the help of their two sons Jai and Tristan.
“We’ve made massive improvements since that time, including building a new rotary, buying and developing neighbouring farms and installing pipe and riser irrigation,” Mr Heap said.
The family milk about 700 cows, but said their operation could sustain at least a further 600 head.
When it comes to size, the largest of the properties is Gundaline at Carrathool, NSW, which spans 14,916ha and is one of Australia’s largest irrigated cotton farms.
The property hit the market at the beginning of June, after being ownered by the Dutch-based fund Optifarm for just two years.
It sold for a reported $60-$65 million in 2018.
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