Two Riverina family farms at Old Junee and Moama hit the market

Two separate family-owned Riverina farms have hit the market where they could command more than $30 million combined.

The Shelmerdine family are selling their 1000ha Moama aggregation.

Two Riverina family farms have hit the market where they could field offers worth more than $30 million combined.

A long-held family farm whose story stretches back to soldier-settlement days is for sale, 10km from Old Junee and 45km from Wagga Wagga.

The property comprises five parcels of undulating land on six titles across 1103ha, all with bitumen road frontages, town water and, in most cases, gently rolling red loam soils.

Neil and Lynda Turner followed on from Neil’s father, Wallace, 92, who farmed in the district for 70 years.

“Dad had 600 acres (242ha) when he first arrived and started off raising chooks for eggs,” Neil said.

“These days we grow wheat, canola, oats and lupins and breed Merinos, usually joining 2200 ewes to Haddon Rig rams while also currently stocking 1000 hoggets and 2000-odd lambs.

“This year we’ve put in a bit over 400ha of crop, but that figure has been closer to 650ha in the past.”

RLA Property Wagga Wagga selling agent Bob Wheeler said sales in the area last year had seen prices realised above $6000 an acre ($14,825 a hectare).

The Turner family are selling their mixed aggregation near Old Junee.

“In this case, I believe the fact that the crop will be given in adds significantly to the property’s value,” he said.

This means the Turner family’s aggregation could field offers worth more than $16.35 million in total.

Meanwhile in the southern Riverina, a family-owned irrigated cropping aggregation has hit the market where it could fetch $14 million.

After three and a half decades, David Shelmerdine and family are selling the 1000ha holding, comprising three parcels offered for sale as a whole, individually, or in any combination of contingent lots.

Held under the name Laradoc Pty Ltd, the aggregation has changed shape through the years, David said, with the family acquiring the first parcel of the portfolio 35 years ago.

Irrigation is a key part of the Laradoc Pty Ltd aggregation.

In recent seasons the property has received significant capital upgrades to now feature a combination of ultra-modern spray coupled with high performing laser-levelled flood irrigation across 668ha, while the balance is dryland cropping country.

David - who is a founding director and deputy chairman of the Climateworks Centre and is an industry advisor on climate change, agricultural supply chains and sustainable development - said the property would be well suited to a buyer ready to expand.

“It was a hard decision to make, but that is life. The property is ready to go to someone to build into their operations,” he said.

Last season, 786.6ha was sown to winter crop (418.6ha canola and 368ha wheat) with more than 3650 tonnes of quality grain produced alongside 1000 tonnes harvested on the 181ha adjoining dryland leased country.

Earlier this month, on the other side of the Murray River, one of Australia’s biggest dairy farming operators, Australian Fresh Milk Holdings has listed a 4000ha northern Victorian aggregation for sale where it is set to command $60 million-plus.