Topfer family sell Boambolo at Yass for $15 million-plus

Two NSW grazing farms have changed hands in separate deals, including one which was sold to an international buyer.

Two southeastern NSW grazing farms have been sold in separate deals worth about $24 million combined.

In the NSW Southern Tablelands the 758ha Boambolo farm, 22km from Yass, has been sold in a deal understood to be worth more than $20,000 a hectare.

Located at 968 Boambolo Rd, Yass, Boambolo has been offloaded by the Topfer family to an undisclosed buyer, with the transaction subject to Foreign Investment Review Board approval.

The property was sold quickly after it was listed for sale for $15 million-plus via expressions of interest closing February 23 this year.

The deal comes after the FIRB recorded a spike in approved foreign investment in the last quarter of last year, thanks partly due to favourable exchange rates for overseas investors.

The 785ha Boambolo, at Yass NSW, has been sold by the Topfer family.

In 2015 the FIRB threshold for foreign buyers of agricultural land reduced from $252 million to $15 million, and down to $55 million for investment in agribusiness.

Boambolo was marketed with 246ML Murrumbidgee III Water Source water entitlements, the ability to carry 500 Angus cows and followers, and with a three-bedroom home.

LAWD senior director Col Medway and director Tim Corcoran handled the sale.

And 1.5 hours southwest of Yass, brothers Pat and Lachie McAlister have sold their 2346ha grazing property, Green Valley, located near Tarcutta, on the NSW South West Slopes.

In October last year the property was passed in at auction and then listed for sale with a $9 million price tag.

An undisclosed NSW-based buyer has purchased the property to add to their existing holdings, which includes properties in other states, for an undisclosed sum.

The original parcel of Green Valley was purchased in 1935 by the McAlister family, before the second parcel was purchased in 1954 and the last piece was acquired in 1988.

In its current form Green Valley comprised 22 titles and was rated to run around 500 cows or at 10,000 dry sheep equivalents.

Nutrien Harcourts selling agent Sally Douglas handled the sale.