News

Two NSW properties sell for a combined $20 million

By Rodney Woods

The sale of two district properties for nearly $20 million has highlighted the strength of the regional market, according to the selling agent.

Elders Deniliquin real estate agent Matt Horne sold the two properties last month.

Woperana Station, at Tocumwal, was sold for about $14 million while Berrigan property Nangunia Station sold for about $6 million.

Mr Horne said with the help of Finley Southern Riverina Livestock & Property real estate agent Jeremy Bell, Woperana was purchased by a family from northern NSW off the Wakefield family.

The Wakefield family has used Woperana Station as predominantly a year-round cropping farm with various livestock run as well.

Nangunia Station was sold by Ian and Anna Lilburne from Hay, who previously purchased it at the beginning of 2019 from the Steel family.

The station was purchased by businessman Courtney Ellis and his wife Talia, of Albury.

Nangunia spans more than 1800 ha and draws in the appeal from its five-bedroom original homestead, while Woperana Station is spread across 3400 ha.

Mr Horne said both new property owners plan to continue using the land in a similar fashion as the former owners.

‘‘The northern NSW family are irrigation farmers who specialise in growing summer crops, such as cotton and corn, and winter cereals — in addition to breeding and fattening beef cattle,’’ he said.

‘‘The extensive irrigation development, two deep irrigation bores and excellent water quality were attributes that the buyers of Woperana were quick to recognise.

‘‘The Ellis family plan to run a mixed farming operation that will include winter cereals, fodder production and livestock breeding and fattening.

‘‘The well-constructed and historic homestead on Nangunia Station, along with the extensive working and building improvements, were pivotal in the purchaser’s decision to acquire the Berrigan property.

‘‘Furthermore, the location fits well for the Ellis family who are based in Albury and have friends in the Berrigan area.’’

Mr Horne said two properties selling for almost a combined $20 million was not uncommon at this time of year.

He said the current market would allow for more properties to yield similar sale results, and believed buyers would continue to show interest with the combination of the approaching autumn months and the properties Elders has on the market.

‘‘Both presented as stand-alone properties with scale and versatility.

‘‘While commodity prices remain strong and interest rates remain low, demand will continue for properties with both scale and scope.

‘‘Autumn is an ideal time to purchase a rural property as the buyers can commence field preparation ahead of the autumn sowing window.

‘‘We have a number of quality listings on our books at present including Lisburn situated on the Newell Highway between Finley and Tocumwal and Caringa situated on the Aratula South Rd, south-east of Deniliquin.

‘‘Both properties comprise quality red loam soils and feature good building and working improvements,’’ he said.