Three NSW farms sold in separate deals worth $55m-plus combined

A corporate buyer and farming families have snapped up a trio of NSW farms, including a 3537ha aggregation sold for about $19 million.

A corporate buyer and farming families have snapped up a trio of NSW agricultural assets in multimillion dollar deals for mixed farmland in the state’s north.

More than 70 years of family ownership by the Capel family has ended with the sale of the 2146ha Kulki property in northern NSW, after it was purchased by a corporate farmland manager with significant agricultural holdings in the region.

It is understood the deal was worth about $20m, after vendors David and Annabelle Horn listed the property for sale last year to finalise an estate.

The 2146ha Kulki property, at Graman, has been sold to a corporate farmland manager.

Located near Graman, 39km northwest of Inverell, Kulki comprises 961ha of mostly heavy black self-mulching to chocolate brown soils, growing 585ha of barley, 331ha of oats and 45ha of lucerne.

On the 1185ha balance beef and lamb were carried with 30 cows and calves, 113 steers and 950 lambing ewes carried last season.

Meanwhile, 115km east of Graman at Deepwater, the 3537ha Echo Aggregation has been sold, exchanging in a deal worth about $19m, according to NSW property records.

A partnership has sold the 3537ha Echo Aggregation, at Deepwater, for about $19m.

Listed for sale by Herde Land Pty Ltd and Raguz Land Pty Ltd in July last year, the aggregation comprised seven contiguous properties; 664ha Carrot Farm, 518ha Bushgrove, 518ha Rockabbey, 518ha Sugarloaf, 500ha Bingeye, 452ha Cloudy Hills and 366ha Echo.

It is understood an undisclosed buyer has bought the aggregation, which offered improved grazing across 58 per cent of the portfolio, plus dryland cropping on 22 per cent, 0.5 per cent of irrigated cropping and 20 per cent timbered grazing.

Preliminary due diligence had also been conducted to assess options for carbon offsets for tree sequestration and biodiversity stewardship payments across further areas of the landholding, while primarily loamy traprock soils have been identified as suitable for carbon sequestration.

LAWD agents Simon Cudmore handled the sale of Kulki, while Darren Collins handled the sale of the Echo Aggregation.

The Horne family recently sold their 1024ha property, Stranraer, through auction for $16.4m.

Meanwhile, also in northern NSW a syndicate between two neighbouring farming families purchased a 1024ha cropping farm between Edgeroi and Bellata, 43km northwest of Narrabri.

In an auction held last month, the Stranraer property was snapped up for $16.4m, or $16,025 a hectare, after it was sold under the hammer.

Stranraer was owned by Robert and Carol Horne for 30 years, where it was 90 per cent arable, consisting of fertile black and grey self-mulching vertisol soils suited to summer and winter cropping.

Nutrien Harcourts NSW agent Paul Thomas handled the sale of Stranraer.