Victorian farming family snaps up two NSW Riverina farms

A leading northern Victorian farming family has expanded their landholdings across the border in a recent sale worth millions.

Northern Victorian farming family, the Inchbolds, have paid about $10m, for two parts of the Wangamong Aggregation, at Oaklands, NSW.

A Victorian farming family has snapped up more than 900ha of dryland and irrigated cropping farmland in the NSW Riverina, adding it to their vast farming enterprise either side of the Murray River at Yarrawonga-Mulwala.

Offered for sale by the Simpson family last September, the 1564ha Wangamong Aggregation at Oaklands, located 49km north of Mulwala, has been carved up between two buyers.

NSW property records show the Inchbold family have purchased the 512ha Wangamong and the 421ha Wangamong West properties, for about $10m, or the equivalent of about $10,720 a hectare.

Cropping wheat, barley, pulses, and oaten hay, while also carrying cattle, Adam Inchbold with his wife Ingrid, and in conjunction with his parents, Richard and Dorothy, run more than 5000ha near Yarrawonga, built over five generations.

The Wangamong properties will add to the family’s existing holdings in the broader southern NSW Riverina region.

Meanwhile a local farming family has secured the third parcel of the Wangamong Aggregation, acquiring the 631ha Wangamong East.

During their tenure the Wangamong Aggregation was converted to a dryland and irrigated continuous cropping enterprise.

The price of the transaction remains undisclosed but is understood to have sold in line with vendor expectations.

Last season the Wangamong Aggregation cropping program consisted of 545ha of canola, 270ha wheat, 325ha barley, with 160ha fallowed for a summer corn program.

Andrew and Libby Simpson, offered the aggregation to market, following more than 75 years of ownership by the Simpson family of the original Wangamong property.

Elders Real Estate Riverina agent Matt Horne handled the sale of the Wangamong Aggregation, and said the sales process for the three-farm aggregation was positive.

“We received good interest in the western holdings and whilst it took additional time to sell the eastern property, it’s now transacted at a commercial level in which we are all happy and comfortable with.”

The Simpson family had owned the original Wangamong property for more than 75 years.

“The Simpson family had done an excellent job developing and nurturing the properties over a number of generations, were an exceptional family to represent and work with, and will no doubt be missed by the Oaklands community given their active involvement with the local schools, sporting clubs and community groups over such a long period of time.”

The Simpson family were selling the Wangamong Aggregation due to family succession planning and a desire to expand on their agricultural interests in the western Riverina in southern NSW, where they currently lease the Falkiner Memorial Field Station, owned by Australian Wool Innovation.

Two years ago, AWI started the search for a new tenant at the Falkiner Memorial Field Station, which spans 3100ha between Deniliquin and Conargo, NSW.