Two SA farms near Mount Damper and Maaoupe sell for more than $8 million

Two farms in South Australia have sold for more than $8 million after attracting more than 100 inquiries. See all the details of the sales here.

Money makers: Two farms in South Australia have sold for more than $8 million combined.

TWO farms in South Australia have sold for more than $8 million combined after receiving over 100 inquiries.

An Eyre Peninsula mixed-farming business, near Mount Damper and Wudinna in South Australia, has sold for more than $3.6 million.

The property, which was owned by the Foster family, has been purchased by Yorke Peninsula Farming Business on a leaseback arrangement for $1650 per hectare.

The Eyre Peninsula property, which is 2231ha in size across three land titles, has been used to run sheep and grow grain.

It has an average annual rainfall of 326mm and sandy loam over clay soils.

Expressions of interest for the property closed at the beginning of November.

Eyre Peninsula property near Mount Damper and Wudinna sells for more than $3.6 million.

A second farm, also in South Australia, has sold for more than $4.5 million.

Plana, a livestock farm at Maaoupe in the Penola district, sold for more than $11,700 per ha.

The property, which was owned by the Hall family for 65 years, has been purchased by three of its neighbours.

Plana spans 393ha across three land titles and has been running 100 cows, 300 weaner cattle as well as 4000 sheep.

Plana at Maaoupe.

It has an average annual rainfall of 568mm and a mix of fertile soils including gradational black clay loams and small sections of sand over clay.

Expressions of interest for the property closed at the end of October.

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CBRE Agribusiness’s Phil Schell and Angus Bills, who managed the campaigns, said the Young family’s Eyre Peninsula property attracted 45 inquiries while the Hall family’s Penola property attracted 70.

“There was significant interest in both properties,” Mr Schell said.

“That is a reflection of their quality, location and the opportunities they present, and the outcome in Penola in particular was an exceptional result for the vendor.

“It also highlights the strong demand for mixed-use and livestock farming operations we have seen in the early stages of 2020.”