Wagner family sell southeast SA farm, Jemalong

A farming legacy dating back more than a century has ended after a 1200ha property was sold in a deal worth almost $20 million.

More than 1200ha of tightly held cropping and grazing farmland in South Australia’s southeast has changed hands, ending one family’s tenure dating back more than a century.

Jemalong, located at Conmurra about 30km south of Lucindale, has been sold in a deal understood to be worth almost $20 million, or more than $15,000 a hectare.

The 1211ha property was listed for sale by the Wagner family in August this year where it attracted the attention of local and interstate buyers alongside corporate interests.

While details of the Jemalong transaction remain undisclosed, it is understood a South Australian farming family, based in the state’s southeast, has purchased the property.

During the Wagner family’s tenure, Jemalong had been used as a mixed cropping and grazing property, growing a combination of grains and oilseeds in rotation and running sheep and cattle.

The Wagner family’s Jemalong property has been used for an approximately even split between cropping and grazing pursuits.

It is anticipated the purchasers will also use the property for mixed farming.

Elders Real Estate Robe selling agent Grant Schubert said Jemalong received “very strong interest” during its time on the market.

“Farmland in the southeast is a trophy-like item. With rainfall in the region and access to underground water, land is extremely tightly held,” Mr Schubert said.

“The market is not ferocious like last year, but the interest was quite considerable with over 20 inspections.”

A southeast South Australian farming family is understood to have purchased Jemalong.

Mr Schubert said there was notable inquiry in the property from high-net worth individuals who were assessing the property as a land banking opportunity.

The top-dollar sale of Jemalong is the most expensive of South Australia’s rural property spring selling season, following the auction of 353ha of farmland at Curramulka which made more than $13 million.

Located near Jemalong, the Swiss-based Westphal-Abrezol family also listed the 4326ha six-farm aggregation known as Fairview for sale in August this year.

At the time is was anticipated the aggregation could make $65-$85 million if offers reach $14,825-$19,766 per hectare.