Upton Farms and Wongawal Station to be sold through auction for up to $100m-plus

Two separate owners will auction 40,000ha worth of NSW livestock farms in the coming weeks, which could fetch more than $100m.

More than 40,000ha worth of NSW livestock farms are expected to be sold in the coming weeks, which could command $100m-plus combined for their two separate owners.

The 2668ha Upton Farms cattle aggregation, one of the New England regions premier cattle stations, is on the market and to be sold through auction in April.

The farm is located southeast of Tamworth, near the villages of Nowendoc and Niangala and is expected to rake in between $80m and $100m.

Recent sales in the New England region have indicated prices of up to $20,000-$25,000 per cow area, while Upton Farms has an estimated carrying capacity of 4,000 cows.

The farm is held in four lots; Alpha (412ha), Brislington (657ha), Pindari Tops (660ha) and Billy Creek/Foxdale (956ha), and will be offered up as individual lots or as one at auction on Wednesday, April 13 at 11am, concluding on Thursday, April 14 at 12pm.

Meares and Associates chief executive Chris Meares, who will run the auction, said he was expecting tight competition as bidders fight to secure one of Australia’s premier cattle farm holdings.

“Given the shortage of quality properties for sale, and the strong demand for the same, it is expected that Upton Farms will sell at above land market rates, reflecting yields being achieved from such high volume production levels,” he said.

“It is the uniqueness and dynamism of the portfolio which will underpin this investment, even at those land rates.

“Upton Farms provides an extraordinary opportunity to invest in a portfolio of some of the most highly improved and best presented livestock fattening holdings in Eastern Australia.

“The portfolio has generated outstanding production and financial returns, with minimal seasonal risk and has the ability to supply markets 12 months of the year.”

Over the last 60 years, Upton Farms owner Greg Upton and his father, Roy, developed the farms into premium green pasture feedlots which provide grass fed beef to both national and international outlets.

The first farm was purchased by the Upton family in 1962, before building their holding into the “outstanding” aggregation it is today.

With no waste sites across the four farms, Upton Farms holds a carrying capacity fatten around one beast per acre, with 300kg-plus weight gain per annum on the red/chocolate soft basalt country.

The first farm was purchased by the Upton family in 1962.

The aggregation also includes four fully-renovated three-five bedroom homesteads and near new cattle yards.

The farm is also home to Fescue and Rye-based pastures with the cattle on the farm to be included in the sale.

Earlier in February, a Sydney property and pastoralist investor listed their 2300ha Southern Tablelands cattle farm for sale with price expectations of $33m-plus.

OUT WEST

800km away from Upton Farms a 17,000ha goat breeding station has hit the market as part of a major SW western districts land sell-off.

Six adjoining lots, totalling around 41000ha, are up for auction on March 9, with separate auctions to be held on the day.

Wongawal Station, the largest of the lots, is located 128km from Bourke, is for sale with price expectations of around $8-9m.

Six adjoining farms in western NSW are for sale.

Nutrien Harcourts Cobar principal and selling agent David Russell said the farms can run shedding sheep, as a goat operation or seasonal cattle country.

Wongawal Station owner Gary Sirol has previously used the farm as a goat breeding backgrounding property.

Historically, sheep carrying capacity across Wongawal Station was estimated at 3,500DSE plus seasonal goat harvesting on the soft Mulga country.