TI Campbell and Sons’ ‘Ilkadoon’, ‘Tarnook’ and ‘Paradise’ for sale

For the first time in their 136-year ownership, a historical Australian farming family has placed three major parcels of rural property on the market.

For the first time since their settlement in 1885, three NSW farms are the market with a price guide around the $15m mark.

TI Campbell and Sons’ three properties in the northern Riverina are for sale via expressions of interest.

The three properties, two at Goolgowi and one at Gunbar – around an hour north of Griffith – will see a total of 6219ha up for grabs.

The three properties combined could command $15m, with a price guide starting at $7.93m (at $3397.44 per ha) for Ilkadoon, $1.95m for Tarnook (at $3013.23 per ha) and $4.74m (at $1457.85 per ha) for the Paradise property.

Spencer and Bennett Real Estate managing director Wayne Spencer said the listing of the properties has gathered a “good amount of interest” already.

“It is a very unique property that has a lot of farming history,” Mr Spencer said.

“The vendor came to us about six weeks ago which was totally out of the blue and a big surprise to us to put it on the market.

“We are very happy with that and extremely excited and thankful to see what opportunities come up.

“There have been some expressions of interest to be sold as a whole or separately and my gut feel is that it will be sold in three separate lots.”

FOR SALE

‘Ilkadoon’ Tabbita Lane, Goolgowi, 2652

2333.82ha (819 irrigation, 1250 arable, rest grazing)

Five liveable homesteads

Four stand shearing shed and sheep yards

Sealed road access

Two quarries, (currently under five-year lease)

1500m airstrip

‘Tarnook’ Merrondale Lane, Goolgowi, 2652

647ha (340 irrigation, 267 arable, rest grazing)

1608 delivery entitlements

Small machinery shed

‘Paradise’ Mid Western Highway, Gunbar, 2711

3250.84ha (1050 dry arable, 2200 grazing)

One homestead

Four stand shearing and sheep yards

Machinery shed

80 tonne silo

After generations of farming on the rural New South Wales properties, the vendor family is moving in a new direction.

Mr Spencer said there has been strong early interest in the properties with corporate and domestic family buyers in the frame.

“At this stage there will be a bit of corporate interest in it,” he said.

“That’s a big parcel of land and it will need a big investment for such a size.

“At this early stage neighbouring property holders are interested because it is a very, very good block for a neighbouring property.

“The last couple of years with cropping inputs being a bit more expensive, owners have been getting excited about livestock.

“This land is quite stable and to get into some pastoral country to run some sheep.”

As part of the potential sales there is also approximately 6500 Megalitres of general water also available for negotiation.

The listing of the three New South Wales stations comes after two landmark Victorian properties have come under offer for a combined total expected to exceed $20 million.