News

Yalca property sells for $2.18 million

By Rodney Woods

A mixed farming property that has been owned by the same family since 1946, sold for $2.18 million at a sale on November 8 at the Yalca Cricket Club.

Owned by the Jackson family, the 456.4 ha property on Starrets Rd, Yalca, sold for a record price for the dryland market in that district.

Elders real estate manager for the southern Riverina and northern Victoria Matt Horne said the sale of The Pines exceeded expectations.

“We're stoked with the outcome,” he said.

“We were unsure where it would land, we had our thoughts but it definitely exceeded those.”

With bidding starting at $1 million, Mr Horne said, despite the conditions, the sale showed there was still confidence in the industry.

“I thought it would sell well but to sell that well shows the confidence of some of the locals and is a testament to how well the farm was presented and nurtured by the vendors,” he said.

“It ticks many of the broad-scale farming boxes.”

Mr Horne said there were five active bidders and another four to five genuine buyers, who did not get a chance to bid as the price grew.

They were part of the 60 to 70-strong crowd that attended.

The property is now in the hands of Leigh and Jane Waser, from Yalca, and Mr Horne said he expected them to use the property to grow rotational crops.

Vendor Ian Jackson is retiring from farming and will relocate to Cobram.